'There’s No Business Like Show Business'

Like the above mentioned adage, a brief overview of the media & entertainment industry in India reveals that the last few years have witnessed an era where the industry has gone through magnanimous changes. While business families of the age-old film producers have made way to corporate houses in the entertainment industry, innovations in marketing have taken over the conventional route of marketing in the media business.

Therefore, there is a gap which has been increasing with each passing benchmark of success in the media business. The gap has been caused by shortage of management professionals which have both; the management skills and the passion to work in the media and entertainment business. This is, in addition, to the fact that the industry of media & entertainment is house to one of the biggest religions in India - Bollywood. While the Hindi film industry is making a mark in diverse spheres of activities, it has somehow failed to acquire the much needed trained human resource for the same. 

Hence, the need of the hour is a programme which provides young aspirants the exposure to an appropriate mix of the creative as well as the managerial aspects of this industry i.e. Master of Business Administration (MBA) course in Media & Entertainment. Students with innovative and creative mindsets opting for this program will not only bridge the ever increasing gap between supply and demand but also have something unique to offer at their respective workplace in the future.

An MBA in Media & Entertainment helps the students in more ways than one. In this programme, the students get to learn about the technicalities of the industry in the class, and also get an equal chance to put this learning into practice during internship and also through live industry projects. Needless to mention the course should be divided into 50% classroom lectures and the rest should be marked for live industry projects that will expose them to the fundamentals of all form of media vehicles (radio, television, digital film), offline (print media), and on ground (events and experiential marketing), PR, with an introduction to arts and entertainment. Overall exposure in different verticals of media such as celebrity management, sports management, movie marketing, post production, social media and budgeting and financing should also be a major part of the curriculum that will be supported by practical assignments and case studies.

Teaching methods will include lectures, role plays, and concept of business design, workshops, industry-institution interaction and assignments. Students should not only learn about the age old theories of effective management but also get hands-on experience by conceptualising and executing real time projects which give them an interface with the corporates of the Media and Entertainment business.

What does it take to be a successful manager in Media & Entertainment?

On successful completion of the MBA program, the students will have a plethora of career choices across media agencies, advertising agencies, channels, film production and distribution companies, PR outfits, event and entertainment companies, TV and Radio channels, celebrity and sports management companies etc. Behind the glamour and glitter of the show-biz that focuses on actors, directors, producers, writers, editors, art directors, anchors, VJ/RJs; there are multitudes of trained-untrained, skilled-semi skilled people from diverse supporting areas that work relentlessly to make things tick, and there are managers who need to manage all the resources including manpower effectively and efficiently to meet the organizational goals.

Young men and women with passion, intellect and acumen, with a formal management education in media and entertainment will be able to fit in these niches and make successful careers that will take them places. One doesn’t have to ‘know’ someone to enter the film industry, but choose a B school with faculty coming from varying backgrounds with professional experiences and interests who guide and inspire their students and fire their imagination to take on challenging careers in media and entertainment. Looking at the rate of growth the industry is showcasing, it is quite easy to understand the importance of an MBA in an environment which is reaching newer heights every day. Or accurately put, every Friday. 

-- Prof Aditya Bhat

Head – Post-Graduate Programme in Media and Entertainment,

Prin. L.N. Welingkar institute Of Management Education And Development