Advertising / Media / Entertainment
Overview
This sector, including film and television production, journalism, book and magazine publishing, digital publishing and web design, advertising and PR, accounts for the majority of the £50 billion+ earned by the UK’s creative industries.
Exposure to the slowing economy and the impact of the internet on the industry, however, has seen a decline in earnings and major consolidation, with many corporate takeovers. A record number of M&A deals were completed in this sector in 2007 and one the most talked about deals of 2008 was Thomson’s acquisition of Reuters for £8.7 billion.
Furthermore, with digitalisation, the media and entertainment industry is undergoing enormous change. Businesses are facing the challenge of transferring their business model online or to rethink their business models completely.
According to Ernst & Young, cable and pay TV, diversified B2B publishers are best placed to weather the current market downturn due to their low exposure to advertising and large subscriber base. While diversified media agencies are less exposed to cyclical media segments and are more invested in emerging markets.
Commercial TV and radio are highly exposed due to their high reliance on advertising and largely domestic exposure. Newspapers are most exposed and are primarily suffering from major structural changes due to the impact of the internet and developing consumer-come-competitor models of publishing.
Geographical Centre
Primarily London based with smaller outposts in Manchester and Birmingham.
Employment Trends
Despite the glitz and glamour of the media and entertainment industry that continues to attract graduates en masse every year, this hugely competitive sector is mostly for the overworked and under paid. Many journalists, for example, work as many hours as investment bankers and for a fraction of the money. Newly qualified reporters working on local newspapers rarely earn more than £14k a year (approximately $30k); despite being degree qualified and a lot of the time carry a post-grad qualification.
Salary levels in London are higher than local journalism, with people normally starting on £17k - £24k (approx $35k - $50k). Traditionally, entry into the world of broadsheet reporting is mostly designated to the well educated and well connected. Almost a pre-requisite is having gone to the right university (e.g. Oxford or Cambridge) and to know the right people. Luck plays a big part too and success can be as much about who you get to know as who you already know. Networking is key in an industry of this nature and size, however the industry as a whole is fundamentally changing and it would seem that this is somewhat of a dying profession. A better strategy for getting work in this sector would be to develop skills and pursue opportunities in online publishing where there is a shift away from editorial models of representation toward models of participation with an audience.
The easiest sub-sectors to find employment have traditionally been advertising and business-to- business writing.
Broadcast Media Companies
BBC
Bauer Media – Radio
British Sky Broadcasting
Global Radio
HomeChoice
Northern & Shell
The Local Radio Company
ITV
NewsCorp
UKTV
Virgin Media Television
UK’s 50 Fastest Growing Digital Media Companies
Each year GP Bullhound and its partners publish a list of the 50 fastest growing and most innovative digital media companies. From this annual league table, the high-profile judging
panel selects the fi ve companies with the most exceptional growth potential.
Congratulations to all those companies that have made it into the top 50, which ranges from the global leader in online market research to the global leader in online luxury fashion
goods. The top 50 companies in this year’s list have collectively grown their revenue base from £185m to a staggering £587m in a two year period.
Read the full report.
Advertising, Media and Entertainment Jobs.
Specialist Recruiters
Media Contacts
PJF Recruitment
ecruitmedia (Aquent)
Career Moves Group
The Media Network
Major Players
Industry Resources & Links
Media UK
Institute of Practitioners in Advertising
Advertising Association
Periodicals Publishers Association
Journalism.co.uk
The Film & Digital Media Exchange
