The Indian media and entertainment (M&E) industry is one of the fastest growing industries in the country. Its various segments—film; television, advertising, print and digital among others—have witnessed tremendous growth in the last few years. According to a 2009 report published jointly by FICCI and KPMG, the media and entertainment industry in India is likely to grow at a compound annual growth rate (CAGR) of 12.5 per cent per annum and touch US$ 20.09 billion by 2013. A FICCI-KPMG report is optimistic about the growth of the Indian media & entertainment (M&E) sector in general. According to the yet to be released report, the M&E industry has registered a growth of 12 per cent over 2010 to reach Rs 72,800 crore.. The growth trajectory is backed by strong consumption in tier 2 and tier 3 cities, continued growth of regional media, and fast increasing new media business. Overall, the industry is expected to register a CAGR of 15 percent to touch Rs 1,45,700 crore by 2016.
Talent Challenges
Amidst the major challenges faced by the industry are threats from piracy and violation of intellectual property rights, lack of quality content, and lack of cohesive production and distribution infrastructure. In a bid to constantly think of new and innovative ways to keep themselves ahead of their competitors, companies are increasingly focusing on their quality of talent. However, the sector continues to reel under challenges of paucity and mismanagement of talent and lack of standardization across levels with regards to salaries and designations. The demand supply gap particularly with regards to "right" creative content talent is another chronic trend.
GS's Perspective
At GS we bring out-of-the-box solutions to identify the right blend of skills needed to address these challenges. Over the past five years, we have carried out close to 500 projects for our M&E clients for senior executive and non-executive searches, succession planning, talent mapping, team effectiveness appraisals and organizational redesign consulting. We have the expertise to work across all segments of the industry such as publishing, broadcasting and cable, film and music production, new media and marketing services.
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