As chart below (click to enlarge) shows, Google and Facebook have greater advertising revenues than any of the big, traditional media companies like CBS and Disney.
What the chart doesn't show is Google and Facebook combined have greater advertising revenues than all of the traditional media companies combined.
To be fair, Google and Facebook derive nearly all of their revenue from advertising, while the media companies also make money from things like theme parks, consumer goods, movies ticket sales, etc. These numbers are also only for the U.S. and Canada.
But it's clear traditional media companies are losing share in advertising at an amazingly fast clip.
The chart is from an article from The Information. This is a paid subscription site ($399 annually) that covers the technology industry. Well worth subscribing to if you have a strong interest in the tech industry.