Analyst Report on the Mass Media Industry The mass media industry is a collection of businesses that produce and deliver television, radio and print media to a broad 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 for global broadcast and cable TV shows growth of 27% per year and an industry-wide growth rate of 5.6% per year over the next five years. However, due to the global shift towards digital media, the mass media industry is faced with many obstacles that some companies need to overcome. The Walt Disney Corporation is a large, growing company that we at Deutsche Bank believe is a key company in the industry, where DIS is the largest media company in the world and has plenty of upside potential. DIS is a diversified company that includes multiple product segments such as media networks, parks, resorts, consumer products and studio entertainment. Following the release of Walt Disney Corporation's first quarter 2014 reports, we are surprised by better-than-expected revenue and earnings per share and recommend investors purchase Disney common stock. Their Q1 2014 report shows earnings per share rising to $1.04, up 27% year-over-year and 15% above Q1 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 of common stock in the first quarter of 2014, up from $1 billion of stock repurchased in the first quarter of 2013. Park Reservations in 1...... half of the card . .....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 increasingly low cost of streaming media on the Internet. The mass media faces many obstacles with the growth of Netflix and Hulu users and sees these types of media as a replacement threat. However, because mass media reaches over 70 million homes in the United States, mass media companies have an advantage over Internet media companies in terms of overall customers reached. The mass media industry continues to be one of the largest industries in the world, and with the growth of population and television users, investment in mass media companies is solid and revenues and profits are expected to increase over the next five years..