Strategy Analytics' Digital Media Index (DMI) analyzes quarterly revenue trends for 38 publicly traded digital media companies across games, advertising, video, music, and social media. The Digital Media Index measures growth on both a quarterly and trailing twelve month (TTM) basis.

Global digital media revenues continued to grow in the Q4 2017 among companies tracked, reaching $91.7 billion, up nearly 32% from $69.6 billion in Q4 2016. In terms of absolute revenues, Google remains the DMI leader, generating $27.2 billion in revenues during Q4 2017, followed by Facebook with $13.0 billion, and Tencent with $9.7 billion. Buoyed by domestic  growth following the acquisition of Youku and Tudou, Alibaba continues to climb up the ranks of digital media companies becoming the 15th largest digital media company in Q4 2017, with $832 million in revenue, up from 19th place in Q4 2016.