The media and entertainment industry is extensive, including several areas such as social media, cinema, music, television, and advertising. According to Omdia’s senior research director María Rua Aguete, the media and entertainment business is predicted to exceed a $1 trillion valuation by 2024 (Variety, January 24).
The trillion-dollar mark is being driven by a variety of industries, with internet video expected to be worth $345 billion, gaming at $255 billion, music at $44 billion, and movies at $41. These segments of the media and entertainment business will make substantial contributions to the industry’s growth.
During the COVID-19 lockdowns, the media and entertainment industries experienced growth. However, things began to alter after the pandemic. Global entertainment and media income rose by only 5.4% in 2022, compared to 10.6% in 2021.
PwC predicts a sequential fall in revenue for the worldwide entertainment and media business over the next five years. The revenue for 2027 is predicted to increase by only 2.8% over 2026. Among the various variables impacting the media and entertainment industry’s slump, consumer spending will continue to fall in the face of interest rate hikes and inflation. According to PwC’s 26th Annual Global CEO Survey, almost 40% of CEOs in the entertainment and media industry believe their present business model will not be sustainable in the next decade.
We used the Forbes Real Time Billionaires Index to identify the top 15 billionaires in the media and entertainment business. The list of billionaires in the media and entertainment industries is arranged in increasing order of net worth as of April 27.
15. Steven Spielberg
Net Worth: $4.8 Billion
Steven Spielberg co-founded DreamWorks Studios and is a household figure for directing films like Jaws and Jurassic Park. Steven Spielberg’s net worth is estimated to be $4.8 billion, placing him 15th among the richest billionaires in the media and entertainment business.
14. Charles Dolan
Net Worth: $5.1 Billion
Charles Dolan started Cablevision Systems Corporation in 1973 and sold it to Altice USA, Inc. for $17.7 billion in 2016. Dolan and his children own controlling interests in several entertainment companies, including AMC Networks and Madison Square Garden Sports Corp.
13. Mark Cuban
Net Worth: $5.4 Billion
Mark Cuban co-founded the video platform Broadcast.com in 1995 and sold it to Yahoo for $5.7 billion in 1999. Mark Cuban has a net worth of approximately $5.4 billion and is one of the wealthiest individuals in the media and entertainment industries.
12. George Lucas
Net Worth: $5.5 Billion
George Lucas founded the film company Lucasfilm and is best known for producing ‘Star Wars’. Lucas sold his production company to The Walt Disney Company in 2012 for $4.1 billion.
11. Clive Calder
Net Worth: $5.7 Billion
Clive Calder became a billionaire in 2002, when he sold his music company, Zomba Group, to the German media conglomerate Bertelsmann SE & Co. KGaA for $2.7 billion. Clive Calder has a net worth of approximately $5.7 billion, making him one of the richest billionaires in the media and entertainment industries.
10. Tim Sweeney
Net Worth: $5.7 Billion
Tim Sweeney is the co-founder and CEO of the well-known gaming developer Epic Games. Tim Sweeney is ranked tenth among the richest billionaires in the media and entertainment business.
9. Jim Kennedy
Net Worth: $5.8 Billion
Jim Kennedy is Cox Enterprises’ chairman emeritus, having served as the company’s acting chairman from 2008 and 2021. Jim Kennedy has a net worth of around $5.8 billion.
8. Blair Parry-Okeden
Net Worth: $5.8 Billion
Blair Parry-Okeden received a 25% share in Cox Enterprises after her mother died in 2007. Blair Parry-Okeden has a net worth of approximately $5.8 billion and is one of the wealthiest people in the media industry.
7. David Geffen
Net Worth: $8 Billion
David Geffen founded three record labels: Asylum Records, Geffen Records, and DGC Records. Geffen also established the film studio DreamWorks Animation. David Geffen is ranked eighth among the richest billionaires in the media and entertainment business.
6. Igor Bukhman
Net Worth: $9 Billion
Igor Bukhman and his brother Dmitry own online gaming upstart Playrix Holding Ltd. Igor Bukhman has a net worth of around $9 billion.
5. Dmitri Bukhman
Net Worth: $9 Billion
Dmitri Bukhman is Igor’s brother and the owner of Playrix Holding Ltd. Dmitri Bukhman is the fifth richest billionaire in the media and entertainment industry, with an estimated net worth of $9 billion.
4. John Malone
Net Worth: $9.6 Billion
John Malone became CEO of the cable TV firm, TCI, in 1973 and sold the firm to AT&T Inc. for $50 billion in 1999.
3. Donald Newhouse
Net Worth: $10.6 Billion
Donald Newhouse inherited a stake in the publishing and broadcasting conglomerate Advance Publications. Donald Newhouse has a net worth of $10.6 billion, making him the third richest billionaire in the media and entertainment industries.
2. Rupert Murdoch
Net Worth: $19.7 Billion
Rupert Murdoch owns News Corporation. Murdoch is one of the most successful media entrepreneurs, having developed media empires like as Fox News, The Times of London, and The Wall Street Journal.
1. David Thomson
Net Worth: $67 Billion
David Thomson inherited a part in Thomson Reuters Corporation, one of the world’s major media and publishing companies. David Thomson is the wealthiest billionaire in the media and entertainment business.