The entertainment industry comprises various forms of media that are distributed globally. The industry includes newspapers, magazines, and TV stations. This article from Insider Monkey looks at the list of 15 richest media owners in the World. The pandemic severely affected the media industry. Production and advertising activities were suspended, which led to a revenue decline. However, the impact of the pandemic was offset by a shift in the consumption patterns of the public. For the full year 2020, Fox’s revenue grew 8% year-on-year to $12.3 billion. The rise was mainly due to the company’s strong television segment, which drove most of the growth. According to data from Deloitte, 19% of millennials watch virtual sports, which helped make up for the decline in traditional sports. The rise of esports also helped make up for the gap caused by the extinction of traditional sports.
Why is it necessary to invest in Media Stocks? Media stocks are the most efficient way to grow in the fast-paced media industry. They are very attractive to investors. The steady growth of the industry is being supported by the increasing popularity of video games and e-sports. With the emergence of 5G, the media and entertainment sector is expected to generate over $1 trillion in revenue in the next decade.
Let’s take a glimpse at Insider Monkey’s analysis of Media Owners in the World. EchoStar is a satellite communications company founded by Charles Ergen in 1980. In 1996, Ergen sold his shares in the company to raise money for his startup, which started selling satellite dishes out of the back of a truck.
Patrick Drahi, the president and owner of Altice, is one of the World’s richest media owners. He has developed the company through more than 20 acquisitions, and he has continued to expand through high-leverage deals. The list continues with Robin Li, the co-founder of China’s biggest search engine, is ranked 13 on the list of the richest media owners in the World. He is worth US$13 billion, according to Forbes. One of Singapore’s richest individuals is Forrest Li, who ranks 12th on the list is the founder of Garena and Shopee. Donald Newhouse, the 11th richest media owner in the World, is the owner of Advance Publications, which is a publisher and broadcasting company. Others are Media magnate Rupert Murdoch is the owner of a major media empire that includes Fox News and The Times of London. David Thomson, the chairman of Thomson Reuters, is the ninth richest media owner in the World. Jack Ma, the founder of Alibaba Group, is the 8th richest media owner in the World. His company is one of the largest holders of media properties globally. It will be interesting to know the other names that made the list. Delve into Insider Monkey’s article on 15 Richest Media Owners in the World for full details on these media owners with their networth and ages.