Tuesday, December 2, 2008

Media jobs crisis

The downturn in media industries is really starting to bite in the U.K.

LONDON, Nov 28 (Reuters) - British media companies could cut tens of thousands more jobs in the coming years as the economic downturn hits an industry already ravaged by the Internet revolution.

British newspaper groups and broadcasters have announced a host of cuts in recent weeks as the downturn in advertising caused by wider economic problems eats into revenues.

But analysts believe this is just the latest wave from the troubled industry, and that worse is to come. They expect stabilisation in the advertising industry by 2010 and not a proper recovery until the London Olympic Games in 2012.

Claire Enders, founder of independent consultancy group Enders Analysis, told Reuters she expected about half of all UK media jobs to go by 2013 under current economic conditions.

"We calculated the total jobs in the media in the UK at about 400,000, that includes newspapers, radio, TV, production companies, advertising and so on, at the end of 2007.

"Between the beginning of 2008 and 2013 we're expecting half of those jobs to go. The big employers are the regional press, magazines, local advertising sales. Real numbers are in print."

For more read here. There is also wholesale belt-tightening in the US entertainment industries.

Interestingly, it is predicted that it is those services rely most upon subscriptions (such as BSkyB) that will fare best, and those most reliant on advertising (free-to-air broadcasters such as ITV) will do worst.

1 comment:

vishnuprasath said...

Dear job seekers, most of the companies are hiring talented candidates in Delhi and also there are lots of Jobs in Delhi, So apply for those jobs immediately.