TeamLease sees a drop in hiring outlook for the media sector
Intent to hire freshers in the Media and Entertainment industry stands at 18 percent for January-June 2024, a 3 percent drop from 21 percent in July-December 2023, as per TeamLease EdTech Career Outlook Report 2024.
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The recently released 'Career Outlook Report HY1 (January-June 2024)’ by TeamLease EdTech points out a 3 percent decline in intent to hire freshers in the Media & Entertainment industry, bucking the overall upward trend across many other sectors. While the overall intent to hire freshers rose 6 percent year-on-year, the report reveals a dip in the hiring outlook for the media sector.
Key insights:
Intent to hire freshers in the Media & Entertainment industry stands at 18 percent for January-June 2024, down from 21 percent in the previous half-year (July-December 2023).
This figure remains unchanged from the January-June 2023 period, indicating a pause in fresher hiring momentum for the sector.
Roles like Video Editor, Production Assistant, Unity Developer, SEO Executive, and Graphic Designer are in high demand, requiring skills in video creation, editing, game development, and digital marketing.
Delhi (27 percent) leads the demand for Video Editors, while Mumbai (25 percent) tops for Unity Developers.
Hiring trends in media and entertainment also revealed varying preferences for job roles across cities. For instance, Delhi dominates in video editing with 27 percent, while Bangalore leads for production assistants with 23 percent. Mumbai and Delhi are top choices for Unity developers, capturing 25 percent and 21 percent respectively. Chennai stands out for SEO executives with 21 percent, and Mumbai remains a hotspot for graphic designers at 19 percent.
But even smaller cities like Indore at 17 percent have demand for video editors, Coimbatore at 16 percent, Kochi at 11 percent needs Production Assistant. The city of Nagpur with 15 percent reflected demand for Unity Developers. Pune with 19 percent, Kochi with 13 percent needs SEO talent. Lastly, Chennai with 15 percent and Kolkata at 10 percent has demand for Graphic Designers.
“The Media & Entertainment sector seems to be consolidating its fresher hiring efforts, even as other industries capitalize on the positive economic sentiment," said Shantanu Rooj, Founder and CEO of TeamLease EdTech. "This could be attributed to factors such as evolving business models, technological disruptions, and changing consumer behaviors. However, it's important to note the emergence of positive indicators within Indian Global Capability Centers (GCCs), suggesting the beginnings of a recovery phase. While sectors are currently adjusting their workforce dynamics, this phenomenon can be seen as temporary, with the potential for hiring activities to normalize as sectors realign their growth strategies and operational needs.”
On the hiring dip in Media and Entertainment, Jaideep Kewalramani, Head of Employability Business and COO, TeamLease Edtech shared, “Despite fluctuations in hiring, the media and entertainment industry remains vibrant, brimming with potential. While current trends may paint a temporary picture of restraint, these are the exact moments that breed innovation, creativity, and resilience, shaping the future of storytelling. With the advent of AI automation and the rise of AI-augmented human roles set to transform workflows, freshers need specialized courses that are in sync with these emerging technologies.”
The survey covers 526 small, medium, and large companies across 18 industries across India. The coverage is spread across 14 geographical areas [metros, tier-1, & tier-2], reflecting the hiring sentiment.
