The media sector is vast and covers a wide range of areas including, news, print and publication, digital, advertising, broadcasting and networking, and motion pictures to name a few, each with its own infrastructure. Media companies operate within these spaces, providing products and services to end customers ranging from individuals to major organizations.
Global revenue in the media sector is expected to reach $1.24 trillion in 2022, with the United States accounting for the lion’s share at $438 billion. ADvendio wanted to learn more about US success in the media industry, so we explored a variety of media companies, taking a deep dive to learn more about what these companies have to offer.
1. Walt Disney
Walt Disney, headquartered in Burbank, California, was founded in 1923 and is a large media and entertainment company with many subsidiaries and a global reach. With a market capitalization of $177.12 billion, Disney is one of the most profitable media corporations in the United States.
Walt Disney houses some of the most well-known brands and characters globally. They operate the ABC broadcast network, the Disney Channel, ESPN, and several other cable networks, as well as Pixar and Marvel, among other film studios. With the arrival of Disney+ in 2019, Hulu, ESPN+, and Star have swiftly become streaming service leaders. Disney+ concluded fiscal Q3 2022 with 152.1 million overall streaming subscribers, an increase of 14.4 million from April 2nd to July 2nd.
2. Newsday Media Group
Newsday Media Group, based in Melville, New York, was formed in 1940 and is a dynamic media company that covers Long Island and New York City through a range of mobile and digital products, print publications, and live events. They employ between 500-1000 people according to Glassdoor. Newsday Media Group has also won 19 Pulitzer Prizes and other prestigious journalism awards including being first-place winners twice at the Global Media Awards in 2022.
The properties of Newsday Media Group include the award-winning Newsday and Newsday.com; Newsday Connect, a digital solutions company benefiting Long Island business owners; and Newsday Local Publishing, one of the Northeast’s largest groups of weekly shopper newspapers.
3. Southern California News Group
Southern California News Group, founded in March 2016, is one of the most powerful and influential news companies in the United States, particularly on the West Coast. When the Los Angeles News Group and its parent company, Media News Group, acquired Freedom Communications, they developed this strong partnership, resulting in the Southern California News Group becoming the largest news content provider in the five-county Los Angeles metropolitan area with roughly 1,001-5,000 employees.
Southern California News Group currently owns and operates 11 local daily newspapers and more than a dozen community weeklies. They utilize print, online, and social media to report on local news, entertainment, sport, and politics for their 8.1 million audiences, reaching the largest number of households in their market. Southern California News Group has won the 2020 National Headliner Awards, 2020 Best of the West Journalism Awards, the 2019 California Journalism Awards, and the 2019 Orange County Press Club’s Excellence in Journalism Awards, in addition to the Pulitzer Prizes.
4. Paramount Global
Paramount Global is another major US media firm. Viacom and CBS combined in 2019 to establish ViacomCBS, and its name was changed to Paramount Global in February 2022 as a result of the re-merger of Viacom and CBS, and it is now exclusively a media firm. The company, founded in 2005 in New York, has a market cap of $12.21 billion and creates entertainment content for a worldwide reach, through digital means, cinema, and television. Nickelodeon, Comedy Central, and MTV Films are all popular brands of Paramount Global.
Paramount Global owns the CBS broadcast network and studios, the most-watched network in the United States, Showtime, and other US and international cable networks. It is the headquarters of Paramount Pictures, the streaming video providers Pluto TV and Paramount+, and is home to the publisher Simon & Schuster. They now run gaming businesses via websites such as AddictingGames.com and Shockwave.com. Finally, the assets of CBS include radio, print, and television, as well as advertising services, such as the ownership and administration of ad placements such as billboards, benches, and public transport.
5. Discovery Reports Group
Discovery Reports Group is a leading global media company, founded in 2001, it has over two decades of strategic content development experience. While their headquarters are based in Wan Chai, Hong Kong, Discovery Reports Group operates in over 27 countries including the United States. They are best known for specializing in the creation of articles, newsletters, press releases, site content, blogs, marketing materials, company presentations, and business letters, as well as full content inventory management for their partners.
Some of these collaborations include the production of premium content for the South China Morning Post, The International Herald Tribune, and Fortune Magazine, where Discovery Reports Group served as a dependable editorial partner to assist these companies in organizing and articulating their ideas, as well as transforming these into clear, captivating messages to better engage their intended audience.
Each of these media companies have had their own successes and it will be interesting to see how they will adapt to the changing needs of the industry as it continues to evolve in the future.