Mr. Potato Head Update
Today we received his eyesin the mail!!
IT'S GOOD TO BE KING...OF ALL MEDIA
Looks like Big Media is not suffering from an economic downturn (except for Time Warner). Steve Wonsiewicz runs Fresearch(as in "free research"), and he's been crunching the numbers. He says first quarter revenues for the top ten media and consumer companies increased 12 percent overall compared to a year ago, to nearly $60 billion! Profits increased nearly 35 percent to $8 billion. See the list below.
The most impressive performance in revenues was at Google , while News Corp. tripled its profits. CBS brought in the worst performance in revenues, Time Warner in profits. Wonsiewicz says strong demand for digital content and the weak dollar are helping, adding, "while I don't expect the American economy to turnaround any time soon, international growth should continue for the rest of the year, which bodes well for the media, entertainment and communications industries."
Revenues change Net Income change
Time Warner $11.4b 2.1% $771m -35%
News Corp. $8.8b 16% $2.7b 209%Walt Disney $8.7b 10% $1.1b 22%Comcast $8.4b 14% $732m -12.5%Google $5.2b 42% $1.3b 30%DIRECTV $4.6b 18% $371m 10%
CBS $3.7b -0.1% $244m 14%
Omnicom Group $3.2b 13% $209m 14%
Viacom $3.1b 15% $270m 33%
Dish Network $2.8b 8% $260m 65%
Total/averages: $59.9b 12% $8b 35%
SPEAKING OF MEDIA KINGS
Someone sent me this classic outtake on YouTube of Bill O'Reilly back in his pre-Fox News days. (WARNING! The language gets quite salty.)