The media industry encompasses a wide variety of fields including advertising, broadcasting, and networking, news, print and broadcasting, digital, recording, and animation, and each has its infrastructure. Media companies operate in these areas and provide products and services to end-users, from individuals to large organizations.
The entertainment industry includes businesses such as telecommunications services, television, music, video games, and live concerts. During the COVID-19 pandemic, entertainment companies offering video games and movie entertainment prospered. But companies that run theme parks or offer live concerts have been badly injured.
The entertainment industry is one of the largest industries in the world and is currently valued at $2 trillion. Estimates expect the industry to be worth $2.5 trillion by 2024. It reached its highest value yet in 2019 with $2.1 trillion, and the same year global entertainment record of box office releases and home releases recorded revenues of over $100 billion, the highest in the industry.
The entertainment industry consists of radio, print, television, and film. This, of course, includes blockbusters, indie movies, TV shows, radio shows, news, music, newspapers, books, magazines, and tons of other media released in tens of thousands of theaters around the world. It’s a vast world that permeates every aspect of society, and unless you’re one of the very few isolated tribes in the world that have no contact with civilization (which is how you’re even reading this article in that case!) the entertainment industry is in one form or another. Even this article is part of this industry.
Biggest Entertainment Companies:
- Nintendo Co. Ltd. (NTDOY)
Nintendo is a Japanese entertainment company that develops and sells video game hardware and software. One of the most widely recognized and established brands in the growing video game industry, Nintendo’s latest releases include popular games like Animal Crossing: New Horizons and the Zelda and Super Mario franchises.
- The Walt Disney Company (DIS)
Disney is a diversified global entertainment company that operates theme parks, resorts, a cruise ship, broadcast television networks, and other businesses. One of the company’s latest additions is the entertainment streaming service Disney+, which launched in the fall of 2019. In addition to providing streaming access to pre-existing content, the company produces a range of new television and movie content for this service. Disney’s Parks, Experiences & Products segment and Media Networks segment are Disney’s two largest revenue streams.
Sony is a huge Japanese conglomerate with operations ranging from consumer electronics to image sensors and (of course) media. Sony Entertainment’s subsidiary includes, among others, Sony Pictures, Columbia, and TriStar film and television studios. It controls some popular anime features, including A-1 studios and the Crunchyroll streaming service. Sony also owns Sony Music Entertainment, one of the three major labels.
Sony’s media business is home to many popular series such as Men in Black, Spiderman, and Ghostbusters, and music libraries from artists such as Beyoncé, Lady Gaga, and Taylor Swift.
Viacom was replaced by ViacomCBS, but before it was dissolved it was the 8th largest media company in the world with annual revenue of $12.83 billion. Viacom was an American multinational mass media company primarily engaged in film and television, founded on December 31, 2005, as a spin-off of the original Viacom. Viacom’s entertainment business, Paramount Pictures, MTV Films, Nickelodeon, and more. Viacom has a market capitalization of US$ 10.65 billion.
After Disney bought the 21st Century Fox movie studio in 2019, Fox remained. Fox includes the broadcast FOX network and 28 local affiliate stations. Cable networks include Fox News and Fox Sports national networks (not regional networks). It also runs the Tubi ad-supported streaming service.
Fox’s focus on news, sports, and live entertainment gives it greater exposure to these content markets than its competitors and keeps consumers subscribing to its cable package.
Companies are adapting to a more digital model as business models are changing. The world’s 10 largest media companies are leading this transformation by leveraging on-demand services and adopting media like podcasting and more. The market is evolving, but the world’s largest media companies also seem to be adapting their styles to suit this new demand.
– Amrin Ahmed