Entrepreneurship Avenues in Mass Communication as a Career option in Industry

Prof (Dr.) Raj Kumar Singh has done MBA from the Institute of Management Studies, BHU, and PhD from VBS Purvanchal University. He has also acquired PG Diploma in Export Management and Journalism & Mass Communication. Before joining Academics he has served the Corporate World for over 20 Years as a Management Professional in the field of Consumer Durables, FMCG, and Pharmaceuticals Sector. Presently he is Dean (R&D)  and Head of Department of Commerce, Chairperson of Centre For Entrepreneurship, Innovation and Skill Development, and Chairperson of Centre For Advance Research & Development.

Prof Singh is also an advisory board member of the International Start-ups Mentor Team of Foundation of Innovation & Entrepreneurship Development of  IIM Kashipur and International Centre For Business Research & Innovation of KIIT University, Bhubaneswar. He is also a Panel member of Mentors in Startup India of Ministry of Commerce and Industry, Govt. of India.

Summary of the Presentation-
By Mr. V.S.R. Naidu
Chairman
Amaravathi Chapter

The Indian Media and Entertainment (M&E) industry which is a major component of the Mass Communication Industry is a sunrise sector for the economy and is making significant strides. Proving its resilience to the world, the Indian M&E industry is on the verge of a strong phase of growth, backed by rising consumer demand and improving advertising revenue. According to a FICCI-EY report, the advertising to GDP ratio is expected to reach 0.4% by 2025 from 0.38% in 2019.

According to an EY report, the Indian media and entertainment (M&E) sector stood at Rs. 1.38 trillion (~ US$ 18 billion) in 2020 and is estimated at Rs. 1.79 trillion (~ US$ 24 billion) in 2021. Further, it is projected to grow to Rs. 2.23 trillion (~ US$ 29 billion) by 2023, due to the acceleration of digital adoption among users across geographies.

The market is projected to increase at a CAGR of 17% between 2020 and 2023.

In FY20, digital and online added revenue stood at Rs. 26 billion in the M&E sector and their contribution to the sector increased to 23% in 2020 from 16% in 2019.

Within the M&E sector, the Animation, Visual Effects, Gaming, and Comic (AVGC) sector is growing at a rate of ~29%, while the audiovisual sector and services are rising at the rate of ~25%; With increasing emphasis on the Digital Marketing Content Writing, Industry is growing like anything.

Looking at this scenario there is an immense Entrepreneurial Avenues which a student of Mass Communication may think upon and get success by developing a successful business model