"Animation is unlike other media industries in that it is, to use a sometimes vaguely applied adjective, global. The highly labor-intensive process behind animation production means that work is very often shared across countries and even continents. Animation, which is easier to dub and has much less local context than live action drama, also travels easily. The key target audience of under-nines happily watch cartoons wherever they originate. These underlying strengths of the genre remain, but it has become an increasingly tough industry for producers as more intense competition in the broadcasting marketplace has transformed their funding model. The corporate structure of companies active in the business ranges from the largest media conglomerates in the world (Walt Disney, Time Warner and Viacom Inc.) to small companies amounting to little more than a designer with a PC and the latest software package."