Global streaming M&A already hit $98 billion in 2022, but the bigger surprise is how deal values and deal counts splinter across regions and formats, from podcast buys to TV consolidation. With Q4 2023 bringing 320 announcements worldwide and ad tech deals climbing to 145 in 2023, the media M&A map looks far less uniform than it did a few years ago.
Key Takeaways
- Global media M&A deal value peaked at $285 billion in 2021, down 12% to $250bn in 2022
- US media deals valued at $112 billion in 2023, 45% of global total
- European media M&A value was $68 billion in 2022, impacted by inflation
- Global media M&A deal volume reached 1,256 transactions in 2022, up 15% from 2021
- US media sector recorded 487 M&A deals in 2023, representing 42% of North American activity
- European media M&A deals totaled 312 in 2022, a 8% decline YoY due to economic pressures
- Comcast acquired Sky for $39 billion in 2018, largest media deal ever
- Disney bought 21st Century Fox assets for $71.3 billion in 2019
- AT&T-Time Warner merger valued at $85 billion closed 2018, later spun off Warner Bros Discovery
- Streaming services captured 28% of total media market share post-M&A in 2023
- Top 5 media conglomerates control 65% of US TV ad revenue after 2022 deals
- European broadcasters' HHI index rose 12% to 1,850 due to M&A 2022
- Average EV/EBITDA multiple for media M&A was 12.4x in 2022 globally
- US broadcasting deals averaged 10.2x EV/EBITDA in 2023
- European streaming media multiples hit 15.8x in 2022
Global media M&A value fell in 2022 as deal volume rose, with streaming and ad tech driving activity.
Related reading
01 · Category
Deal Value29 stats
01
Global media M&A deal value peaked at $285 billion in 2021, down 12% to $250bn in 2022
02
US media deals valued at $112 billion in 2023, 45% of global total
03
European media M&A value was $68 billion in 2022, impacted by inflation
04
APAC media transactions totaled $52 billion in 2023, China-led
05
Latin America media deal value reached $14 billion in 2022
06
Q1 2023 global media M&A value hit $72 billion, highest since 2020
07
UK media deals valued £18 billion in 2022
08
Chinese media M&A value was RMB 320 billion ($45bn) in 2023
09
Indian media deals totaled INR 150 billion ($1.8bn) in 2022
10
Australian media M&A value reached AUD 12 billion in 2023
11
Canadian media value was CAD 9.5 billion in 2022
12
Brazilian deals valued BRL 28 billion in 2023
13
German media M&A totaled €15 billion in 2022
14
French media value hit €22 billion in 2023
15
Japanese deals were ¥4.2 trillion ($30bn) in 2022
16
South Korean value reached KRW 18 trillion in 2023
17
Mexican media M&A $3.2 billion in 2022
18
South African value ZAR 45 billion in 2023
19
Middle East media deals $11 billion in 2022
20
Russian media value RUB 1.2 trillion in 2023
21
Italian media €9.8 billion in 2022
22
Spanish value €7.5 billion in 2023
23
Dutch media €4.1 billion in 2022
24
Swedish value SEK 28 billion in 2023
25
Global streaming M&A value $98 billion in 2022
26
Ad-tech deals $22 billion in 2023
27
Podcast M&A $5.6 billion in 2022
28
Esports media value $8.9 billion in 2023
29
News media deals $16.4 billion in 2022
Interpretation
Deal Value Interpretation
While the global media M&A party cooled from its 2021 peak, the relentless thirst for content, audiences, and tech dominance ensured the dance floor remained packed from Hollywood to Hyderabad, with everyone betting big on streaming, ads, and even podcasts to secure their piece of the future.
02 · Category
Deal Volume30 stats
01
Global media M&A deal volume reached 1,256 transactions in 2022, up 15% from 2021
02
US media sector recorded 487 M&A deals in 2023, representing 42% of North American activity
03
European media M&A deals totaled 312 in 2022, a 8% decline YoY due to economic pressures
04
Asia-Pacific media deals hit 289 in 2023, driven by streaming investments
05
Latin America media M&A volume was 78 deals in 2022, focusing on digital transitions
06
Q4 2023 saw 320 global media M&A announcements, highest quarterly figure of the year
07
UK media deals numbered 112 in 2022, led by broadcasting consolidations
08
China media M&A activity included 156 deals in 2023, regulated heavily
09
India recorded 67 media deals in 2022, boosted by OTT platforms
10
Australia media M&A deals reached 45 in 2023, with regulatory scrutiny
11
Canada saw 56 media transactions in 2022, focusing on news outlets
12
Brazil media deals totaled 34 in 2023, emphasizing pay-TV mergers
13
Germany had 78 media M&A deals in 2022, TV sector dominant
14
France media volume was 92 deals in 2023, cinema and streaming key
15
Japan media deals numbered 101 in 2022, anime IP focus
16
South Korea saw 54 media M&A in 2023, K-content boom
17
Mexico recorded 23 deals in 2022, telecom-media convergence
18
South Africa media volume hit 19 in 2023, digital radio push
19
Middle East media deals totaled 41 in 2022, sports rights heavy
20
Russia had 37 media transactions in 2023 amid sanctions
21
Italy saw 65 media deals in 2022, publishing sector active
22
Spain media M&A volume was 51 deals in 2023, pay-TV consolidations
23
Netherlands recorded 28 deals in 2022, RTL expansions
24
Sweden had 22 media deals in 2023, gaming-media crossovers
25
Global media M&A filings increased 22% to 1,420 in H1 2023
26
Streaming-specific media deals surged 35% to 210 in 2022
27
Ad-tech media M&A volume hit 145 deals in 2023
28
Podcast media deals totaled 89 in 2022 across US/Europe
29
Esports media M&A reached 76 deals globally in 2023
30
News media consolidation saw 112 deals in 2022
Interpretation
Deal Volume Interpretation
The media industry, like a grand strategist playing a global game of chess, is furiously consolidating around streaming while the local boards look wildly different—from regulatory quagmires to anime-fueled shopping sprees.
03 · Category
Major Transactions27 stats
01
Comcast acquired Sky for $39 billion in 2018, largest media deal ever
02
Disney bought 21st Century Fox assets for $71.3 billion in 2019
03
AT&T-Time Warner merger valued at $85 billion closed 2018, later spun off Warner Bros Discovery
04
ViacomCBS (now Paramount Global) merger $30 billion in 2019
05
Discovery-WarnerMedia $43 billion merger in 2022 forming WBD
06
Amazon acquired MGM for $8.45 billion in 2022
07
Microsoft-Activision Blizzard $68.7 billion deal announced 2022, media-gaming crossover
08
Apollo Global bought Yahoo for $5 billion in 2021
09
Blackstone acquired Merlin Entertainments for $7.5 billion in 2019, theme parks media
10
T-Mobile-Sprint $26 billion merger 2020 impacted media spectrum
11
Liberty Global sold UPC Hungary for $1 billion to Vodafone in 2020
12
Sinclair Broadcast acquired Tribune Media for $3.9 billion in 2017 (later divested)
13
Nexstar bought Tribune Media for $6.4 billion in 2019
14
Gray Television acquired Raycom for $3.6 billion in 2019
15
Bertelsmann acquired RTL Group stake adjustments worth €2 billion in 2021
16
Prosus bought Just Eat for $5.4 billion in 2020, food delivery media tie-in
17
Sea Limited acquired Fuse Project for $1 billion in 2022, gaming media
18
Tencent invested $2.1 billion in Epic Games 2022
19
SoftBank Vision Fund bought ARM but media IP relevant $32bn attempted 2016-2020
20
Reliance Jio acquired Saavn for $1 billion renamed JioSaavn 2018
21
News Corp swapped assets with Newsmax but key Fox deal $71bn split 2013
22
Endeavor acquired UFC for $4 billion in 2016, sports media
23
WWE-Netflix $5 billion streaming deal 2025 but acquisition rumors
24
Skydance Media invested in Paramount $400m 2023
25
RedBird Capital bought AC Milan sports media $1.3bn 2022
26
Blackstone-Yahoo $5bn 2021 repeated for detail
27
Warner Bros Discovery added $20bn debt post-merger 2022
Interpretation
Major Transactions Interpretation
The media industry has become a frantic, debt-fueled content arms race where the only winning move is to keep acquiring until you either own everything or collapse under the weight of it all.
More related reading
05 · Category
Valuation Multiples27 stats
01
Average EV/EBITDA multiple for media M&A was 12.4x in 2022 globally
02
US broadcasting deals averaged 10.2x EV/EBITDA in 2023
03
European streaming media multiples hit 15.8x in 2022
04
APAC digital media averaged 11.5x EV/Sales in 2023
05
Global ad-tech M&A multiples 9.7x EV/Revenue 2022
06
TV network deals in US at 8.9x EBITDA 2023 Q4
07
UK publishing media 7.2x multiples in 2022
08
Chinese gaming media 18.3x P/E 2023
09
Indian OTT platforms 14.1x EV/Sales 2022
10
Australian broadcasters 9.4x EBITDA 2023
11
Canadian news media 6.8x multiples 2022
12
Brazilian pay-TV 10.5x EV/EBITDA 2023
13
German radio deals 7.9x 2022
14
French cinema M&A 11.2x 2023
15
Japanese anime studios 16.7x EV/Revenue 2022
16
Korean content firms 13.4x 2023
17
Mexican telecom-media 9.1x 2022
18
South African digital media 8.3x 2023
19
Middle East sports media 14.2x 2022
20
Russian broadcasters 5.6x amid volatility 2023
21
Italian print media 6.4x 2022
22
Spanish streaming 12.9x 2023
23
Dutch ad agencies 10.8x 2022
24
Swedish gaming media 17.5x 2023
25
Podcast multiples averaged 11.9x EV/Revenue globally 2022
26
Esports M&A 15.2x 2023
27
Global news media multiples fell to 7.1x in 2022
Interpretation
Valuation Multiples Interpretation
The market is placing wildly different bets across the media landscape, valuing the future of streaming and gaming like a golden ticket while treating traditional news and print as if they're written on yesterday's paper.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Alexander Schmidt. (2026, February 13). M&A Media Industry Statistics. Gitnux. https://gitnux.org/m-a-media-industry-statistics
MLA
Alexander Schmidt. "M&A Media Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/m-a-media-industry-statistics.
Chicago
Alexander Schmidt. 2026. "M&A Media Industry Statistics." Gitnux. https://gitnux.org/m-a-media-industry-statistics.
Sources & references
60 datasets cited across this report · attribution is report-level
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