Media market - additional information
The global entertainment and media market has a high value, considering it is made up of television, radio, internet, newspaper and in general technology-based companies. In 2016, this industry had an accumulated value of approximately 1.8 trillion U.S. dollars. Projections for this market are optimistic as this industry is expected to increase its value over the next years, potentially reaching a value of 2.2 trillion U.S. dollars by 2021.
American conglomerate Alphabet Inc., the parent company of Google and many other companies previously owned by Google’s founders Larry Page and Sergey Brin, is the largest media company in the world based on revenue. The U.S. is the most important regional market for Alphabet, generating 47 percent of its revenue. Telecommunication giant Comcast closely follows. The U.S. is also a major market for Comcast, as they held an estimate of 24 percent of the pay TV market share in the U.S. in 2016. The Walt Disney Company completes the top 3 media companies in the world.
Eight out of ten leading media companies in the world are U.S.-based companies. It is no surprise the U.S. is the largest media market in the world, and is projected to amass just over 623 billion U.S. dollars in revenue in 2017. Second-placed Japan is forecast to generate about a third of this total in the same year. Indeed, media has a major role on the daily life of Americans. On average, a consumer in the U.S. spends an estimate of 725 minutes per day consuming major media. As of 2016, television (broadcast/cable) is the medium with the highest daily consumption per capita in the U.S., followed by smartphone, radio and emails.