The nation's top 100 media companies saw a 4.6% revenue boost in 2007, their slowest growth since the recession year of 2001.
Media's tempered growth mirrors that of the economy: GDP last year recorded its most tepid growth (2%) since 2002 amid signs the economy was heading into recession.
Media's biggest winner is no surprise: digital, with revenue up 10.8%. Cable-network growth was close behind, at 10.6%. The biggest loser: newspapers, down 6.8%.
The nation's 100 Leading Media Companies pulled in 2007 net U.S. media revenue of $299.1 billion, including money from advertising, subscriptions and fees.
Time Warner still on top
Time Warner topped the list with net U.S. media revenue of $35.6 billion. Time Warner, which has held the No. 1 spot each year since 1995, collected 11.9% of Media 100 revenue -- nearly one of every eight dollars spent by advertisers and consumers on products and services from the top 100.
Time Warner is likely to lose its position as the nation's largest media company. The company is preparing to spin off its biggest operating segment, Time Warner Cable, as a wholly separate company. Time Warner minus its cable systems had 2007 net U.S. media revenue of about $21 billion. That would make it the second-largest U.S. media firm, behind Comcast Corp. ($26.9 billion).