Sector stands where tech industry was 20 years ago: Aptech
The Media & Entertainment (M&E) industry in India currently stands where the IT sector was two decades ago, said Anil Pant, MD & CEO, Aptech Ltd.
It is on the threshold of explosive growth and is set to offer large-scale employment opportunity, according to him.
The M&E sector is set to grow 20-25% CAGR in the next 10 years, and is expected to create 2.7 lakh to 3 lakh jobs every year, 10 years from now, similar to what the tech sector did in its fast-growing years, said Mr. Pant. “The M&E industry is going to be immensely large. We have to be ready for a deluge of business opportunities and jobs in the coming years. The sector is set to grow exponentially for the next 10 years. After IT, it is M&E that is going to create mass hiring opportunities in this country,” Mr. Pant added.
Over the last few years, Aptech had seen more than 80,000 media and entertainment vacancies every year and the company had been able to offer only 25,000 candidates. On the demand-supply mismatch, he said, “Currently, there’s a 3X demand for jobs in this space, as a result, most graduating students get multiple job offers, and this is happening at a time when jobs are hard to find in most other sectors. The requirement for rightly skilled M&E talent has been on a constant rise in the last 3-4 years and hence demand is outstripping the supply.”
According to him, despite the pandemic and its adverse impact on jobs, Aptech was able to place about 800 of its students in the last four months, at a median salary of ₹23,000-₹24,000 and a high salary of ₹50,000 per month.
“There are over 700 recruiters, including blue-chip animation studios, entertainment and graphic design firms, ad agencies, consumer firms, online tutorials and IT firms scrambling for graphic designers, web designers, 2D/3D animators, 3D modelers, VFX experts, compositors, visualisers and pre/post-production executives,” he explained.
Multiple international VFX studios are either entering the Indian market or investing in infrastructure in the country. Also, he pointed out that most of the movies are now being created in studios than in live, picturesque locations. Animators are required across industries and VFX overall is a labour-intensive sector, he said.
Mr. Pant said content consumption and creation have changed dramatically as a result of the pandemic.
“A new hunger has emerged for personalised content. Family members, sitting together, are watching different programmes at a time, on TV, on the laptop, on a mobile phone, or on other Internet devices. And this is happening all over the world,” he added.
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