Print die-hards won’t like this, but the writing has been on the wall for a long time – online media companies are now in a neck-to-neck race with traditional news outlets.

A set of slides that yesterday kickstarted Business Insider’s conference on the future of media illustrate how "new" online media properties are now in fact within spitting distance of "old" media companies. 

For example, Google makes content and sell ads so it’s basically a media company whose market value eclipses any other media company, including the likes of Time Warner, News Corp, and Disney.

Facebook, another new media company with market value pegged at $50 billion, is worth more than Yahoo or iTunes, both valued at around $20 billion.

In fact, new media combined has an estimated market value of $289 billion, just shy of an approximate market value of $296 billion for old media.

Other takeaways include the following facts:

  • iTunes’ annual revenue is now over $5 billion versus $2 billion for Netflix or half a billion for YouTube
  • total content value for some of the key web properties: WebMD is worth twice as much as WSJ.com ($3 billion versus $1.5 billion) while Gawker Media hovers around the $200 million mark
  • video will be the next huge battleground, with Netflix leading the charge, followed by iTunes, YouTube, and Hulu
  • app downloads are projected to double to more than twelve billion in 2012, up from a little over six billion downloads this year 

Source: Business Insider