Phoenix Publishing and Media Group (PPMG) has been ranked as the 69th largest media company in the world in the 2016 World's 500 Largest Media Company report, released on Dec 28 in New York.

The group rose six places compared with the previous year, and ranked in the top 10 among media organizations from the Chinese mainland. It ranked first among domestic publishing companies.

The report was produced by World Media Lab, a media industry research institute headed by the Nobel Prize in Economics laureate Robert A. Mundell.

World Media Lab ranked 3,000 media companies from around the world according to their annual revenue during the process of producing the report, including TV, movie, news and publishing companies. Internet company Google topped this year's list followed by the cable giant Comcast and the Walt Disney Co.