It's still tiny in comparison with venerable Silicon Valley, but New York's new media industry has passed the 100,000-employee mark, nearly half again as large as 18 months ago, according to a new survey.

The industry now employs 105,771 people in New York City and surrounding suburbs, up 48 percent since the last survey in early 1996, and has annual revenue of $5.7 billion, up 50 percent, according to a soon-to-be released report from Coopers & Lybrand LLP.

The industry attracted $140 million in venture funding over the 18-month period, the consulting firm said. By contrast, last year alone Silicon Valley had exports of $35 billion and attracted $2.3 billion in venture funding.

The telephone interview survey was conducted from May through July of 430 firms in a database of 10,320 companies.

The survey reported that full-time employment in the New York new media industry grew 28 percent to 58,767, but part-time employment nearly tripled from 8,600 to 22,526, now accounting for more than one in five workers, up from fewer than one in eight 18 months ago. Free-lance employment grew 44 percent to 24,478.

The average age of top executives was 42; 36 percent of employees were under 30; 35 percent were between 30 and 40; and 28 percent were over 40. Sixty-two percent of new media employees are male, according to the survey.

An estimated 48 percent of the 4,881 firms in the industry are focused entirely on new media, and 68 percent have been in business three years or less. Thirty percent of the companies are 18 months old or younger. Since the last survey, 17 percent of new media firms have exited the industry.

Fully 76 percent of the industry is focused on content, 60 percent on design and development, enabling services only 11 percent, and electronic commerce just 4 percent.

The fastest-growing customer segment is financial services; 37 percent of new media businesses serve the booming bank and brokerage industry, up from 25 percent in the last survey. Publishing, advertising, new media, information technology and entertainment are other popular customer segments, according to the consulting firm.

Steve Sieck, manager of Coopers & Lybrand's telecommunications and media consulting group and the survey project director, said that survey respondents chose New York as their business location primarily because of the availability of talent, customers and technology infrastructure.

Brian Horey, partner with the venture capital firm of Lawrence, Smith & Horey, said private individuals remain the main source of funding for New York new media firms. Only 2 percent to 3 percent of firms reported getting venture funds, but 10 percent to 18 percent expect to receive them in the next two years. Fully 21 percent of firms reporting revenue of more than $1 million expect to go public in the next two years.

The study was conducted jointly with the New York New Media Association; Horey was founding chairman of the group.

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