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Year in review: the media business gets a wake-up call. (Market Report: The Year in Review).

The media manufacturing industry got a wakeup call in 2002, and the bell hasn't stopped ringing yet. This was no sector-dependent phenomenon; changes throughout the industry were sweeping and comprehensive, ranging from significant consolidation among replicators and replication equipment manufacturers to new formats, new IP issues and new economic models. As a result, the industry is left playing catch-up with the pace of change--and doing it in a rocky global economy makes it a daring high-wire act.

Not only did the players reposition themselves in 2002, but so did the output of the industry itself. Preliminary estimates indicate as much as a 15 percent decline in ...

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