In this article, we will discuss 15 biggest broadcasting companies in the world.

The broadcasting industry has seen a paradigm shift in its dynamics after the outbreak of the COVID-19 pandemic. The days of radio, newspapers, and televisions are now fading away in the past as digital streaming and digital broadcasting networks have experienced a sharp rise in consumption of late, with the likes of platforms like Netflix and Amazon Prime on the rise. According to research by Zenith, people spend more time than ever before viewing media, consuming about eight hours of media each day.

Commercial broadcasting in the United States stretches back to the 1920s, when news bulletins, music programs, and live sporting events were first broadcasted into people’s homes. Since then, the industry has continued to grow, and the U.S television industry alone stood at a market value of $210.4 billion in 2021, rising by $12.3 billion from 2020. Comcast Corporation and Fox Corporation remain two of the biggest broadcasting networks in the United States.

However, it is interesting to note that although the sector keeps growing explosively in terms of its market size, the number of people employed in the US broadcasting sector has continued to fall in the past two decades. This is largely due to the rise of digital streaming platforms that require a substantially smaller number of people to operate as compared to radio or television.

Digital platforms provide curated content to users as per their tastes and profiles. The overall experience is interactive and personalized for the user, which is what traditional media often lacks. Some examples of digital broadcasting companies include YouTube, Netflix, Amazon Prime, and Disney+. The rise in traffic to digital streaming platforms has encouraged digital media companies to invest heavily in producing digital content. In 2020, Netflix invested $17 billion in content creation, up from $15.3 billion in 2019. The revenue for the digital streaming app industry is forecasted to reach $115 billion by 2026, from $72.2 billion in 2021.

Our Methodology

We have picked the top 15 biggest broadcasting companies in the world and have ranked them from #15 to #1 in order of their market capitalization. In addition to TV, radio and telecommunications companies, we have also included major streaming companies in this list as they are taking the form of mainstream broadcasters as streaming replaces TV in households worldwide.

15. Paramount Group, Inc. (NYSE:PGRE)

Market Cap: $1.51 billion

Paramount Group, Inc. (NYSE:PGRE) is a global media and entertainment corporation that develops content for viewers worldwide. The corporation has the industry’s most important and vast libraries of TV and film titles. Its portfolio includes some of the top media networks, such as MTV, Nickelodeon, Colors, VH1, and many more. Paramount Group, Inc. (NYSE:PGRE) also owns Simon & Schuster, VidCon, and Bellator. The company was previously named ViacomCBS Inc. and renamed itself Paramount Global in February 2022.

Paramount Group, Inc. (NYSE:PGRE) revenue for 2021 was reported at $702.7 million, a 1% increase from the previous year’s $695.9 million.

In addition to Paramount Group, Inc. (NYSE:PGRE), Comcast Corporation (NASDAQ:CMCSA), Charter Communications, Inc. (NASDAQ:CHTR) and The Walt Disney Company (NYSE:DIS) are included in our list of 15 biggest broadcasting companies in the world.

14. Altice USA, Inc. (NYSE:ATUS)

Market Cap: $2.87 billion

Altice USA, Inc. (NYSE:ATUS) is a French multinational mass media and telecommunication company. Altice USA, Inc. has spread its operation in four regions – Western Europe, Israel, the United States, and Overseas Territories. The company has become the second-largest telecommunication company in France. Altice USA, Inc. (NYSE:ATUS) has over 50 million TV, phone, and internet corporate and residential customers. In 2017, the company expanded its online advertising business by acquiring Teads.

The company’s revenue for 2021 stood at $10.09 billion, recording an increase of 1.98% from $9.89 billion in 2020.

In its Q2 2022 investor letter, MPE Capital, an asset management firm, highlighted a few stocks and Altice USA, Inc. (NYSE:ATUS) was one of them. Here is what the fund said:

Two (very) costly mistakes I’ve made over the last twelve months have been my investments in Altice USA, Inc. (NYSE:ATUS) and Poshmark. Both are down over 50% from my initial purchase price. I not only poorly appraised business quality, I also incorrectly appraised the intrinsic value of both of these companies. It should rarely end up the case that we pay over intrinsic value, at worst case we should never lose money on an investment. I will dive into one of these mistakes below and maybe dive into the other in a future letter. My thinking when buying Altice USA was that they operate as a duopoly in their main footprint, the New York Tri-State area. They provide a needs-based service: internet, video, and voice services. I figured this is a very stable business with high barriers to entry. Management seemed competent as well based on historical capital allocation decisions. I didn’t fully appreciate at the time how poorly positioned they were relative to Verizon Fios, as well as how fiercely competitive the business can get on promotions and customer acquisition.

Altice offers hybrid fiber coaxial (HFC) while Fios offers fiber-to-the-home (FTTH). FTTH is a far superior product, which has led to some share loss to Fios in the parts of their footprint that overlap. There have also been some subscriber losses in their other footprint due to new cable entrants and fixed wireless offerings (…read more)

13. Zee Entertainment Enterprises Limited (NSE:ZEEL.NS)

Market Cap: $3.09 billion

Zee Entertainment Enterprises Limited (NSE:ZEEL.NS) is an Indian company active in the content and broadcasting segments. The company broadcasts general entertainment television channels, such as non-news and current affairs programming. Zee Entertainment Enterprises Limited (NSE:ZEEL.NS)’s operations include satellite television channel and digital media broadcasting, and media content sales, which include programs, film rights, feeds, song rights, and movie creation and distribution. It boasts a collection with over 250,000 hours of television programs and rights to over 4,800 movie titles. Zee Entertainment Enterprises Limited (NSE:ZEEL.NS) has a viewership of over 1.3 billion people in 173 countries.

Zee Entertainment Enterprises Limited (NSE:ZEEL.NS) reported an annual revenue of $1.05 billion in 2021, up 1.94% from $1.03 billion in the previous year.

12. DISH Network Corporation (NASDAQ:DISH)

Market Cap: $7.50 billion

DISH Network Corporation (NASDAQ:DISH) was established in 1996 in the United States. The company has two main business subdivisions: Pay-Tv and Wireless. Pay-Tv subdivision offers its services under the DISH and the SLING brand. Pay-Tv has licenses to use Direct Broadcast Satellite (DBS) and Fixed Satellite Service (FSS), which offer video services to broadcasting networks and offers over-the-top (OTT) content. Wireless offers its customers postpaid and prepaid wireless services. DISH Network Corporation (NASDAQ:DISH) invested approximately $20 billion into its Wireless 5G sector to acquire wireless spectrum licenses, including the 3.45-3.55 GHz band licenses.

DISH Network Corporation (NASDAQ:DISH) revenue for 2021 stood at $17.88 billion, a 15.4% YoY increase from $15.49 billion in 2020.

In its Q2 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and DISH Network Corporation (NASDAQ:DISH) was one of them. Here is what the fund said:

Portfolio holdings in the communication services and financial sectors also made strong contributions. DISH Network Corporation (NASDAQ:DISH) continues to make progress on the buildout of its greenfield 5G network, with Las Vegas slated to become the first market launched later this year. The company gained credibility, and its stock reacted favorably, after it announced a partnership with Amazon to deploy a 5G cloud-native network using AWS’s cloud infrastructure. While the stock has been volatile in recent quarters, we continue to feel confident in Dish’s long-term prospects, which include competing as a fourth U.S. wireless carrier. Charter Communications has been executing well and benefiting from the growth in residential broadband, which has been accelerated by COVID-19 and should see further support from the Biden Administration’s infrastructure bill, which earmarks $65 billion for broadband buildout. In addition, we expect the company to continue to grow its wireless business, leveraging its mobile virtual network operator (MVNO) relationship with Verizon. The company continues to generate strong and growing free cash flow and deploys it toward consistent and material share buybacks.

11. Vivendi SE (EPA:VIV)

Market Cap: €9.24 billion

Vivendi SE (EPA:VIV) is mass media holding company founded in December 1987 and is headquartered in Paris, France. Vivendi SE (EPA:VIV) is the owner of Universal Music, Gameloft, Groupe Canal+, Havas, Editis, Prisma Media, Vivendi Village, and Dailymotion. Vivendi SE (EPA:VIV), through its various subsidiaries, is in the business of selling music, publishing, and distributing free-to-air channels. Moreover, it sells and distributes books, creates and publishes downloadable video games, and has an online video content platform.

Vivendi SE (EPA:VIV) ‘s sales during 2021 were reported at €9.5 billion, up 10.4% from 2020.

10. News Corporation (NASDAQ:NWS)

Market Cap: $9.40 billion

News Corporation (NASDAQ:NWS) creates and distributes media, news, education, and information services. Its business is divided into the following segments: Book Publishing, Subscription Video Services, News and Information Services, and others. The news and information segment comprises the New York Post, News UK, and News Corp Australia. HarperCollins, which publishes and distributes consumer books in print, digital, and audio formats, is part of the Book Publishing sector. The Digital Real Estate Services division provides real estate advertising and services, as well as financial services. The Subscription Video Services segment provides video sports, entertainment, and news services to pay-TV subscribers and other commercial licensees via cable, satellite, and Internet Protocol distribution, as well as video sports, entertainment, and news services to pay-TV subscribers and other commercial licensees.

News Corporation (NASDAQ:NWS)’s revenue for the fiscal year 2022 was recorded at $10.3 billion, increasing by 10.9% from $9.3 billion in the fiscal year 2021.

L1 Capital is also bullish on News Corporation (NASDAQ:NWS), believing the company’s collection of assets are being mispriced by the market, as revealed in the fund’s Q2 2022 investor letter:

News Corporation (NASDAQ:NWS) (Long -26%) shares fell over the quarter despite reporting third quarter results in line with consensus expectations. The decline was primarily driven by a softening in investor sentiment towards News Corp’s Digital Real Estate assets against a backdrop of rising interest rates in both Australia and the U.S., with REA Group shares down 17% during the quarter. While concerns over property market drivers are likely to continue in the near term, we see both REA Group and Move as being well positioned to structurally improve their businesses through this period. We continue to believe the News Corp assets are materially under-valued and remain supportive of ongoing initiatives to unlock value across the Group.

9. WPP Plc (NYSE:WPP)

Market Cap: $9.97 billion

Headquartered in London, England, WPP Plc (NYSE:WPP) is the largest creative transformation company that provides communications, experience, commerce, and technology services. WPP Plc (NYSE:WPP) operates through more than 3,000 offices in 112 countries across North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Africa, Latin America, Central and Eastern Europe, and the Middle East. Most of the company’s revenues come from regions in North America, the U.K., and Western Europe, which make up approximately 70% of the total revenue.

WPP Plc (NYSE:WPP) sales during 2021 were reported at $17.31 billion, rising by 5.46% from $16.41 billion in 2020.

8. Omnicom Group Inc. (NYSE:OMC)

Market Cap: $14.95 billion

Omnicom Group Inc. (NYSE:OMC) is a global marketing and communications company. Its branded networks and specialized firms serve 5,000 clients in 100 countries with advertising, strategic media planning and buying, digital and interactive marketing, customer relationship management (CRM), public relations, and other specialty communications services.

Omnicom Group Inc. (NYSE:OMC) reported revenue of $14.2 billion during 2021, an increase of 8.48% from $13.1 billion in 2020.

7. Fox Corporation (NASDAQ:FOX)

Market Cap: $14.97 billion

Headquartered in New York, USA, Fox Corporation (NASDAQ:FOX) is a news, sports, and entertainment company. The business is divided into three divisions: Cable Network Programming, Television, and Other. The Cable Network Programming sector creates and licenses news and sports content for distribution primarily in the United States via traditional and digital platforms. FOX News Media, FOX Entertainment, FOX Sports, and FOX Television Stations are among the company’s properties. Under the Tubi and FOX brands, it also purchases, markets, and distributes broadcast network programming and free advertising-supported video-on-demand (AVOD) services across the country.

Fox Corporation (NASDAQ:FOX)’s revenue for the fiscal year 2022 stood at $13.9 billion, recording an increase of 8.25% from $12.9 billion in the fiscal year 2021.

6. Orange S.A. (NYSE:ORAN)

Market Cap: $25.84 billion       

Orange S.A. (NYSE:ORAN) is a telecommunications service provider based in France. The organization offers internet, data transmission, multimedia, security, network, cloud, data security, and major project management services. Orange S.A. (NYSE:ORAN) provides services to residential and corporate customers and other telecommunication operators. It operates across Asia-Pacific, Europe, the Americas, the Middle East, and Africa. The group has a total customer base of 266 million customers worldwide.

Orange S.A. (NYSE:ORAN)’s revenue for 2021 stood at $48.3 billion, down 6.2% from $51.6 billion in 2020.

5. BCE Inc. (NYSE:BCE)

Market Cap: $41.30 billion

BCE Inc. (NYSE:BCE) is a telecommunications and media firm that serves residential, business, and wholesale customers in Canada with cellular, wireline, Internet, and television (TV) services. BCE Inc. (NYSE:BCE) is one of the big three national wireless carriers, with roughly 10 million customers constituting about 30% of the market in Canada. The corporation is divided into three divisions: Bell Wireless, Bell Wireline, and Bell Media. Bell Wireless provides wireless phones, data communication products, services, and consumer gadgets. Bell Wireline provides data services such as internet access, Internet protocol television (IPTV), local telephone and long-distance services, other communication services and products, and satellite TV and connectivity services.

BCE Inc. (NYSE:BCE) reported revenue of $18.5 billion in 2021, up 3.11% from $17.9 billion in 2020.

4. Charter Communications, Inc. (NASDAQ:CHTR)

Market Cap: $54.46 billion

Charter Communications, Inc. (NASDAQ:CHTR) is an American broadband connectivity company and cable operator serving 41 states with a customer base of more than 32 million through its Spectrum brand. The company provides business-to-business internet access, data networking, business phone services, and video and music entertainment. Spectrum Reach, its advertising sales branch, provides regional businesses with a chance to advertise on cable television networks and advertising platforms in individual and multiple service areas.

Charter Communications, Inc. (NASDAQ:CHTR) ‘s revenue for 2021 was recorded at $51.6 billion, an increase of 7.45% from $48.0 billion in 2020.

Here is what Oakmark Funds specifically said about Charter Communications, Inc. (NASDAQ:CHTR) in its Q3 2022 investor letter:

Charter Communications, Inc. (NASDAQ:CHTR) is also trading like a bank stock due to concerns about broadband subscriber growth and competition. With the stock trading for a high-single-digit P/E on next year’s consensus earnings forecasts, we believe the market’s assumptions are overly punitive. Charter remains the dominant broadband provider in 60% of its footprint, and we expect continued operating profit growth even in a tougher competitive and macro environment.

3. Netflix, Inc. (NASDAQ:NFLX)

Market Cap: $114.28 billion

Netflix, Inc. (NASDAQ:NFLX) is one of the world’s biggest entertainment services, with over 222 million paid subscribers in over 190 countries enjoying TV shows, documentaries, feature films, and mobile games in various genres and languages. Netflix, Inc. (NASDAQ:NFLX) started selling and renting DVDs by mail in 1997. After a year, Netflix, Inc. (NASDAQ:NFLX) focused on the DVD rental business. However, the company launched streaming media and video on demand in 2007 and has become a pioneer in this segment ever since.

Netflix, Inc. (NASDAQ:NFLX) ‘s revenue for 2021 stood at $29.6 billion, a rise of 18.8% YoY from $24.9 billion in 2020.

Here is what Polen Capital has to say about Netflix, Inc. (NASDAQ:NFLX) in its Q3 2022 investor letter:

We have spent months analyzing Netflix, Inc. (NASDAQ:NFLX) ‘s ability to monetize shared passwords, as there are over 100 million households that use, but do not pay for, Netflix. We believe Netflix has outlined reasonable plans for cracking down on password sharing and now expect the company to be able to monetize roughly 30% of that user base in the short term, which has the potential to add billions of dollars to annual free cash flow. In addition, we have analyzed the opportunity for an advertising-supported subscription model, and Netflix has also made meaningful progress in this area by partnering with Microsoft and attracting new digital advertising talent. .… (Click here to read the full text)

2. Comcast Corporation (NASDAQ:CMCSA)

Market Cap: $135.71 billion

Incorporated in 2001, Comcast Corporation (NASDAQ:CMCSA) is a global media and technology conglomerate comprising three major businesses: Comcast Cable, NBCUniversal, and Sky. The company acquired NBC Universal and Sky to broaden its broadcast network. The company offers a wide range of entertainment, news and information, sports, and other content, as well as communication products and services. The organization caters to small and medium-sized businesses, as well as residential and commercial clients, and has a presence in the United States, Europe, and other places.

Comcast Corporation (NASDAQ:CMCSA)’s sales during 2021 stood at $116.3 billion, up 12.3% from $103.5 billion in 2020.

ClearBridge Investments made the following comment about Comcast Corporation (NASDAQ:CMCSA) in its Q3 2022 investor letter:

The Strategy was not completely insulated to macro headwinds and some companies saw tough comparisons after strong pull forwards in demand during the COVID-19 pandemic. Media companies including Comcast Corporation (NASDAQ:CMCSA) were hurt by both factors in the quarter.

After extremely strong broadband growth during the early days of the pandemic, Comcast is now experiencing slowing to negative growth in its broadband business due to new competition and less consumer moving activity along with headwinds on the programming side, where advertising budgets have been more stressed.

1. The Walt Disney Company (NYSE:DIS)

Market Cap: $158.15 billion

The Walt Disney Company (NYSE:DIS) is a global entertainment company that operates a wide range of entertainment outlets. The company is divided into two primary segments: Disney Media and Entertainment Distribution (DMED) and Disney Parks, Experiences, and Products (DPEP). The DMED section includes the company’s global production and film and episodic television programs distribution. The DPEP division encompasses important lines of business, such as parks and experiences, as well as consumer products. The Walt Disney Company (NYSE:DIS) also creates and publishes novels, comic books, and periodicals and sells branded items through retail, online, and wholesale outlets.

The Walt Disney Company (NYSE:DIS) reported revenue of $67.4 billion in the fiscal year 2021, an increase of 3.1% from $65.3 billion in 2020.

Third Point commented on The Walt Disney Company (NYSE:DIS) in a Q3 2022 investor letter,

As disclosed in our Q2 letter, we reinitiated a significant position in The Walt Disney Company (NYSE:DIS) when the company retested its Covid lows earlier this year. At the current price, Disney is trading for little more than the stand-alone value of its Parks business and a mere 15x ’24 “street” consensus. The company remains early in its Direct to Consumer (“DTC”) transition with a leading market position, and yet the current stock price ascribes negligible value to the streaming business. We believe this is due to questions around the terminal economics of streaming, given large losses being generated today at Disney (>$1 billion dollars last quarter) and stagnating margins at peers such as Netflix. On the last earnings call, management highlighted three items that could lead to an inflection in DTC profitability over the next 12 months: a 38% price increase for Disney+ in the US; moderating growth in cash content expense; and an advertising tier for Disney+ launching in two months that can drive additional ARPU given high demand for the Disney brand amongst advertisers.

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Disclosure: None. 15 biggest Broadcasting Companies in the World is originally published on Insider Monkey.