Every U.S. media sector is now consolidated into at most five firms

Evidence

Political economy of media, by contrast, has typically examined the ownership and organization of media. There is no shortage of looming mountains to analyze today, all of which have consolidated and now dominate the U.S. (and often global) market: four tech companies (Alphabet/Google, Apple, Amazon, Meta/Facebook), five film/television companies (Disney, Netflix, Comcast/NBCUniversal, Sony, Warner), three theater chains (AMC, Cineworld, Cinemark), three recorded-music companies (Universal Music Group, Warner Music Group, Sony), three streaming music services (Spotify, Apple, Amazon), three radio groups (iHeartMedia, Audacy, Cumulus), three talent agencies (Endeavor, Creative Artists Agency, United Talent Agency), three wireless carriers (AT&T, Verizon, T-Mobile), two cable companies (Comcast and Charter), and one music conglomerate (Liberty Media) that controls the biggest satellite radio company (SiriusXM), the biggest digital radio service (Pandora), and the biggest live-music, venue, ticket-sales, and artist-management firm (Live Nation/Ticketmaster). — Andrew deWaard, Derivative Media, 31

Categorization

• SHARE: The Liberty Media/Live Nation pyramid alone is a striking tidbit for anyone tracking vertical consolidation in music.