Good morning.
As we start Q3 2025 (!), and in a quickly evolving industry, Manka Bros. has maintained our position as the World’s Largest Media Company.
Here’s the latest chart – and as you can see that, based on size, Manka Bros. still barely edges out Netflix despite having completely different business models.
How did an old media company survive (and even thrive) in this current Hollywood climate?
Manka Bros. never panicked and didn’t sell off assets to goose our growth to appease Wall Street (we still have our Music Group for fuck’s sake – I’m looking at you WBD and Paramount.
I mean, the instanity of this stat: Netflix is nearly 70X larger than Paramount! That’s just embarrassing.
Shari Redstone knows what she did to that once great company – and she should be ashamed. (More to come on that.)
Netflix makes movies and series and streams them around the world. It’s not some secret and mysterious formula. Sure, they’re dabbling in other areas (games, experiences, consumer products, etc.) but it’s not meaningful (Maybe it will be down the line).
Paramount has CBS and NFL rights (!) and 60 Minutes (don’t get me started) and Mission: Impossible and Top Gun and so many Kids Franchises and a huge Library and a 100 Years of History and it’s barely worth 1/70th of Netflix (!)
I get it – industries change, people die, ideas suck… but come on, Hollywood, hang in there. The market cap of most studios in this town are couch cusion money for big tech – and the money is tempting – but, come on, have some pride.
Remember, Bob Iger tried retirement once – he said it sucked. Shari Redstone is about to find that out.
Heading to Herbie Allen’s Sun Valley Mogul Fest tomorrow – should be an interesting week.
Khan Manka, Jr. – Chairman & CEO – Manka Bros. Studios – The World’s Largest Media Company