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North America Media Sectors : A Company and Industry Analysis (January 2008)
Mergent, Jan 2008, Pages: 32
This report updates the previous North American media report, focusing on the markets in Canada and the United States
Current Environment - Key Points
- The US media industry did not perform as well as expected by many over the past six months
Financially, most leading companies reported mixed performances
- The share prices of most leading companies were hit by substantial declines over the six months between June 1 and December 1
The Dow Jones Media Index 5500 started the period at 321.50 points, its high point, but declined over the period and closed at 287.98 points on December 1, its period low
- The US media M&A scene continued to be highly active over the past six months, with all major deals involving leading companies
Most deals saw media companies work with or acquire new media, internet or telecommunications companies
- Other deals saw companies acquiring media businesses related to their core businesses in an effort to consolidate their position in the industry
The IPO market, traditionally subdued, continued to be so over the past six months
- The Canadian media industry performed well over the past half year, with most leading companies reporting strong financial results
- The M&A environment in the Canadian media industry continued to be highly active, with several leading companies selling off overseas assets and reinvesting in others
The IPO market meanwhile continued to be subdued, as it has been over the past few years
Industry Profile - Key Points
- The US media industry is one of the largest and most vibrant in the world, producing content and products that dictate global trends
The new media sector is becoming increasingly popular and has provided stiff challenges to other media segments in terms of revenue and market share
- In recent months, media companies have expressed a growing interest in established blogs that have the traffic as well as credibility, utilizing them to generate advertising revenues
- The media industry in Canada offers a variety of content, catering for its multicultural population
Most media content in Canada is in English, with the rest in French and a number of minority languages
- The Canadian Government has a well-outlined legal framework that protects Canadian-produced content
Canadian broadcasters are required by law to carry a fixed percentage of Canadian content in their program rotation
Market Trends and Outlook - Key Points
- The US has initiated broadcasting digitalization in 2003 and has set February 17, 2009, as the target date for full digitalization
With the 2008 US Presidential elections looming, media companies are expected to generate approximately US$3.03 billion in political advertising revenues
- In an effort to arrest declines and gain market share, newspapers and magazines have been advertising their brands online
Broadcasts also continue their push online, offering primetime content on websites
- In Canada, broadcast digitalization is progressing slowly, with the Canadian Radio-Television and Telecommunications Commission (CRTC) estimating that there are currently only 20 television stations in the country that offer digital content
The Canadian Government has set August 31, 2011, as the date for full broadcast digitalization
- Technological advancements are presenting Canadian media companies with new opportunities, and regulators with a legal headache due to copyright, piracy and privacy issues.
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