Strategy Analytics has done a nice and simple comparison of revenues from a selected group of online media/Internet companies in Q208 (what it calls its “Digital Media Index”), and shows that revenue growth for these companies slowed to 0.8 percent quarter-on-quarter in Q208, down from 3.3 percent in the previous quarter and 3.4 percent in the same period last year. Google (NSDQ: GOOG), up 3.5 percent quarter-on-quarter, was the only one of the five largest companies that went against the general trend.

Some other conclusions:
—Fox Interactive Media (NYSE: NWS) was the fastest growing digital media company, with 55.6 percent growth in the last 12 months
—Apple (NSDQ: AAPL) iTunes was down 7.0 percent quarter-on-quarter. However this decline is consistent with seasonality for iTunes, and is in line with a 6.9 percent drop in the same period the previous year.

The conclusion: “It seems that not even an emerging sector such as digital media is immune to the global economic downturn.” Oh wait, we were part of the economy? Who knew…