Mass Media Industry Analyst ReportThe mass media industry is a collection of companies that produce and deliver television, radio and print media to a wide audience of customers. In this report, I will analyze a diverse set of mass media companies consisting of The Walt Disney Corporation (DIS), Viacom Inc. (VIAB), Time Warner Corporation (TWX), and Regal Entertainment Group (RGC). The mass media industry is growing tremendously and the average annual growth rate of global broadcasting and cable television is growing at 27% per year, and an annual growth rate of 5, 6% industry-wide over the next five years. However, due to a global shift to digital media, the mass media industry is facing many obstacles that some companies must overcome. Walt Disney Corporation is a large and growing company that we at Deutsche Bank view as a key company in the industry, where DIS is the world's largest media company and has significant growth potential. DIS is a diversified company with different product segments such as media networks, parks, resorts, consumer products and studio entertainment. As Walt Disney Corporation's Q1 2014 reports have been released, we are surprised by higher-than-expected revenue and earnings per share, and we recommend Disney common stock as a BUY for investors . Their 1Q14 report shows an increase in profits. per share reaching $1.04, up 27% year over year and 15% above first quarter estimates. Disney also reported revenue of $12.3 billion, up 9% year over year and also 1% above our estimates. Disney repurchased $1.7 billion in common stock in the first quarter of 2014, up from the $1 billion in stock repurchased in the first quarter of 2013. Park reservations in 1... . middle of paper ...... companies face other obstacles such as the Federal Communications Commission and in the example of Time Warner and Comcast; antitrust regulators become another obstacle the industry may face. The bargaining power of customers is high due to the increasing low cost of streaming media over the Internet. Mass media faces many obstacles with the growing number of Netflix and Hulu users, and sees these types of media as a substitution threat. However, because mass media reaches more than 70 million households in the United States, mass media companies have an advantage over Internet media companies in terms of overall customer reach. The mass media industry continues to be one of the largest industries in the world, and with the growth in population and number of television users, investments in mass media companies make sense and are expected to increase their revenues and profits over the next five years..