The Business of Media
The vast majority of the world’s media is produced in the U.S. — this includes movies, TV shows, streaming shows, documentaries, music, music videos, video games and more. Often, we have no idea that the show we’re watching, or the game we’re playing, is from the same massive conglomerate (that’s a parent corporation that owns a controlling stake in several smaller, independent companies). Business ownership matters because centralized ownership means smaller voices and independent creators with far less reach and far fewer resources (think distribution, marketing, star power) can easily go unnoticed. Also, when just a few massive companies own most of the media you watch, there is not competition for pricing.
Play the game on the left below by matching a major media company with the company’s dollar value. Simply drag and drop the company logo to its financial worth. You’ll know you have the answer right when the logo remains covering the dollar value!
Matching Activity
(from October 2026, based on market value, which is the amount for which something could be sold)
Congratulations!
Media is a BUSINESS
The companies that create and distribute the entertainment you enjoy are businesses interested in making money. They compete with one another for the attention of audiences.
Over the decades, the number of media companies in the U.S. has gotten far fewer, and the companies remaining have gotten really big. Today’s biggest media companies got so large by buying up the smaller media outlets.
The U.S. government oversees the competition among the country’s media companies. It has mostly had a hands-off approach to regulating what company can own another company.
Big Companies Own Many Smaller Companies
Check out these holdings by some of the biggest U.S.-based media companies on the planet:
Comcast: Owns NBCUniversal, Sky, Dreamworks Animation, and XUMO.
Revenues 2025 = $123.71 billion
The Walt Disney Company: Owns ABC, ESPN, Pixar, Marvel Studios, Lucasfilm, Disney+, and Hulu.
Revenues 2025 = $94.425 billion
Skydance: Created by the 2026 purchase of Warner Brothers Discovery by Paramount Skydance.
It owns HBO, CBS, CNN, Nickelodeon, Showtime, Comedy Central, DC Studios and Food Network.
Revenues: TBD
SONY: Owns Sony Pictures, which includes Columbia Pictures and TriStar Pictures; the Sony Music Group, which includes Columbia Records, Epic Records, RCA Records and Arista Records; and Sony Interactive Entertainment, which includes PlayStation Studios.
2025 revenues = $82.69 million
Sources: Investopedia, Sony, The Walt Disney Company, Skydance
Who Owns It?
What is one of your favorite TV shows or movies? Look up what company produced it, and figure out if that company is owned by an even bigger company. It probably is!
For example, if you love the Marvel movies AND watching major-league baseball, you are giving your eyes and ears and money to the same company – Walt Disney.