The world’s largest media owners are getting a bigger share of global revenue, as incomes soar for the largest internet firms while major conglomerates in the US and Europe further their international ambitions, according to the latest rankings published by media agency network ZenithOptimedia.

The list is based on financial year 2012, the latest period for which Zenith has consistent annual revenue figures for publicly listed firms.

“The top 30 companies increased their revenues by 8.2%, well ahead of the 3.7% growth in global ad expenditure that year, suggesting that they have indeed consolidated their grip on the global ad market,” ZenithOptimedia’s head of forecasting, Jonathan Barnard, tells Media Business Asia.

“This is partly because internet ad spend growth is driving rapid expansion for companies like Baidu and Google, but some media owners are also expanding their international operations to compensate for relatively weak growth in their home markets,” he adds.

“This consolidation means that advertisers and their agencies have the opportunity to negotiate favorable global deals with media owners with international reach, although they must ensure that each buy for a campaign is right for each market.”

ZenithOptimedia’s latest list ranks companies on estimated and published revenues from businesses that support advertising, including money from circulation and subscription, but excluding income from areas such as broadband, consumer products or theme parks.

Combined media revenue for the Top 30 reached US$291 billion, up from US$269 billion the prior year.

Content Incumbents, Online Intermediaries

The cohort remains dominated by established content producers, although it also includes five pure-play internet giants: Google (#1), Yahoo (#19), Facebook (#24), Baidu (#28) and Microsoft (#29). Between them, they attract around two thirds of global spend on internet advertising.

Sitting comfortably at the top, Google increased its year-on-year lead on second-placed DirecTV from 39% to 47%.

For the first time, the ranking also includes two Chinese companies – national broadcaster CCTV (#23) and domestic search leader Baidu (#28) – mirroring China’s rising scale.

The only other growth market representative is Brazilian giant Globo (#20), reflecting a domestic focus for most media owners outside North America and Western Europe. 

Nonetheless, Zenith expects others with sizable international businesses – naming India giant Zee – to join the list in due course.

Three other Asian companies on the list are from Japan: Asahi Shimbun (#16), Yomiuri Shimbun (#18) and Fuji Media (#21). 

Revenue for both Asahi and Fuji contracted by just under 1%, offsetting a slight rise for Yomiuri and larger gains made in China, keeping Asia’s share of income in the Top 30 at 8%.

The list in full below: