Media and Entertainment companies to add 8 lakh jobs by 2022

Mumbai: The media and entertainment (M&E) industry is likely to add 7-8 lakh new jobs by continuing to register a strong double-digit growth of 11-12 per cent over the next five years. With the rising consumer demands, changing business models and digital disruptions, a study conducted jointly by CII and BCG has highlighted the need for the industry to prepare itself for a completely different workforce. 

“The M&E industry alone will require 140-160K trained/employable individuals entering the workforce every year for the next 5 years. The demand for talent and functional skills in the industry will outstrip supply given the pace of growth in the industry. Hence, the M&E industry needs to prepare itself for a completely different and perhaps, unrecognisable workforce by 2020. To accelerate growth, M&E organisations must rebuild their strategies to fit in the shifting, digitally-oriented landscape,” the report said. According to it, major shifts around adoption of technology, big data and analytics as well as structural changes will mean many new job roles and a massive reskilling of the current workforce.