Media research firm SNL Kagan latest review of media firm revenues and profits is showing quite a bit of movement in the top ranks. The results are culled from the latest quarterly earnings report filed for publicly held companies.
Disney held onto the top spot, reporting $2 billion in net profits in the second quarter of 2012, a gain of 22% from the second quarter of 2011. Last year's number 2, News Corp., fell off the list, reporting a net loss of $1.5 billion this last quarter, a result of the company writing off restructuring charges from its ailing print newspaper unit. Replacing News Corp at #2 this quarter was Thompson Reuters, whose reported $935 million net profits was up 63% from the previous year. News Corps fall allowed Viacom to move into the third spot, with $547 million in profits, down 7% (in part a result of ratings issues surrounding Nickelodeon). Time Warner dropped to the fourth spot with profits of $429 million, a 33% fall from the same quarter last year (revenues and profits this quarter took a hit from the company shutting down operations for its cable channel TNT in the Turkish and Indian markets). CBS posted net profits of $427 million, up 8.1%; advertising group Omnicon Group reported profits of $314 million, up slightly (2.3%); Discovery Communications reported $293 million in net profits, up 15.4%; Liberty Media moved down, reporting profits down 12% to $249 million. Completing the top ten was McGraw-Hill, holding steady at $220 million (up 2%).
Among those discussed, three reported substantial gains in net profits, four reported falling profits (and one a massive lost), and three with modest gains in reported net profits. Even for the biggest players, media markets remain volatile.
Source - Disney Is Tops In Profits, News Corp. Drops, MediaDailyNews