Recession — what recession?
The media and entertainment sector has withstood the economic downturn and remains far more profitable than other industries, according a report by Ernst & Young.
How can this be? Two reasons: Media companies have cut expenses dramatically and the advertising market has begun to show signs of life again.
"The pain of the times for the entertainment sector has created a focus on financial discipline. At the same time demand for content is increasing, not decreasing," John Nendick, Global Media and Entertainment Leader at Ernst & Young told TheWrap. 
The new report ranks 10 media and entertainment industry sectors on their profitability and growth rate.