As the multichannel business in Asia continues to grow, so does the demand for personnel.
1 November 2008
according to PricewaterhouseCoopers’ (PwC) Global Entertainment and Media Outlook 2008-2012, the overall entertainment and media market in Asia Pacific will see 11.1 percent growth in 2008.
The segment experienced 9.4 percent growth in 2007, boosted by double digit growth in internet advertising, casino and regulated gaming, video games, internet access, TV subscriptions and license fees and recorded music. Growth in the number of subscription households boosted TV subscription by 11.7 percent, and is among the segments expected to register double-digit increases over the next five years. With large increases in the PRC and India generally offsetting sluggish growth in Japan, overall spending is expected to rise to US$508 billion in 2012, from $333 billion in 2007, growing at a compound annual rate of 8.8 percent. Excluding Japan, PwC expects growth in the rest of the region to average 12 percent compounded annually.
Asked whether figures from the Outlook needed revising downwards in light of recent economic turmoil, Partner at PwC Entertainment and Media Practice Marcel Fenez said that projections cover a five year period and the CAGRs for each sector over that period are unlikely to be significantly impacted. He also pointed out that the intention of the report is to underline the most important trends and drivers of change, which will not be changed at all.
Agent, media, at executive search firm Aquent, Oonagh Grace, says that any slowing of the job market in the light of global economic woes is not yet apparent. “If anything, the market is picking up with new channels being launched regularly. So far in the broadcast industry we have not seen the effects of the economic crisis.”
However she says that some functions will be ‘safer’ than others when industry belt-tightening begins. “If and when the crunch does hit this industry, you’ll see a tightening of belts around some of the non-core functions with money shifted to areas such as affiliates and marketing to ensure that the channels remain well distributed and retain market share through the downturn.”
Grace says there has been a definite shift in mindset regarding the perceived importance of the various functions within media companies - with marketing seen as increasingly important.
“Historically we are seeing a lot of demand for strong marketing candidates at the moment; these roles are in a reasonably constant state of rotation, but given the number of new channel launches and the need for greater consumer mindshare, senior strategic marketing roles are more important than ever. There are even examples of companies moving budget from another department to enhance the war chest for attracting the right marketing talent. When the right hire is made, these marketing roles are getting a seat in the strategy sessions - it’s a role that has gone from back office to front of house in the last few years.”
She says there also seems to be more acceptance of candidates from the agency side moving into broadcast, maybe on the back of working on a broadcast account or maybe just by skill set alone, whether that’s PR, media planning or account management.
Asked whether it is possible to break current recruitment needs down by industry sub-segment, Grace said that those roles with unique skill sets, such as affiliate distribution, remain attractive for the right candidates. “There are not so many candidates in the marketplace and they move less frequently than their sales and marketing colleagues, so the roles do not come up as often.”
“Major broadcasters are also growing their digital offerings and capabilities, and so are bringing in talent with digital experience for roles in sales, product/campaign development, advertising operations, production, and even senior leadership roles with strategy and P&L responsibilities. In the case of these niche roles, we would look overseas to leverage markets with more experienced candidates, but they would need to have some exposure to Asia to be considered seriously by broadcasters here.”
Demand for personnel in the region is helped by that fact that many networks are at differing stages of maturity, meaning that their talent needs differ.
Explains Grace, “At time of launch, the distribution of the channel throughout the region is key and so emphasis will be placed on a strong affiliate sales team. At the same time, marketing is needed at the launch to help build the channel brand and drive demand for programs and it remains important but changes in focus as the channel matures.”
And the biggest opportunities currently in the job market?
“There has been a growth in format licensing and a maturity of this segment, from just doing reality spin-offs to comedies and dramas so there are openings in this area. We are also seeing more roles in the licensing divisions handling merchandizing, DVDs and live shows, so this is also an area in which there may be openings for candidates without traditional broadcast experience. The demand overseas for Asia-based channels is also growing, with Asian channels launching in Europe, Middle East, USA and Australia.”
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