Sunday, 12 March 2017

Origin and Growth of Media Management

What is management?

Media Management and Examples
Media Management
Management in all business and organisational activities is the act of coordinating the efforts of people to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organising, staffing, leading or directing, and controlling an organisation or effort for the purpose of accomplishing a goal.The resource may be human, financial, technological and natural.
Since organisations can be viewed as systems, management can also be defined as human action, including design to facilitate the production of useful outcomes from a system. This view opens the opportunity to ‘manage’ oneself, a prerequisite to attempting to manage others.

Media Management

To be precise, managing a media enterprise is media management. It involves the manipulation of human capital of an media enterprise to contribute to the success of the enterprise. It is a general job title that describes people who manage talent for media professionals. Professionals in the media management field work with many types of media related talent including actors, artists, writers and musicians.
Managers of this kind are common in print and broadcast media enterprises. They often facilitate contact between those seeking and those providing media talent. It includes many types of management including management of finances to fame.
Media managers usually have a number of copy right and trademark laws that guide and restrict the way they conduct business within their media field. In most places the laws that govern music copy rights differ from laws that control copy rights of motion pictures and photographs, so some media managers specialize in only one type of media.
A media professional can benefit from the use of a manager because it allows the talent to focus on media work instead of promoting the work because managers specialize in promoting tallent to industry professionals.

Growth of Media Management

Size

For five years since 2003 almost every one of the top 10 media companies has grown twice in size. India’s largest media firm, Bennett, Coleman & Company grew from Rs 19.9 billion to an estimate of Rs 42.82 billion in its financial year ending. Network18 wanted to become a media conglomerate that it went on an acquisition spree that many analysts dubbed as ‘over leveraging.’ The result was that it grow from minuscule Rs 440 million in March 2004 to a claimed Rs 19 billion in group revenues in March 2009.

Spread

The growth in size was accompanied by growth in spread. Indian media companies are attempting to set their feet upon other media a lot of companies who produced news papers started new ventures in broadcast media. Production houses started venturing into direction and vica versa.
Most of the media buying in India got consolidated more than over eight years ago.The dice has always been loaded in favor of the buyers. Now the sellers are consolidating. It will change mainly because of the levels of expansion and because pay revenues are on a raise.

Case studies

Bennett, Coleman and Company Limited

Bennett, Coleman and Company Limited
Bennett, Coleman and Company Limited (The Times of India Group)

It is India’s largest media company.One part of BCCL’s allure stems from the recursiveness of the two brothers who run it and also own parts of it along with the other members of the family. Inspite of its age, status and profits, BCCL remains the most aggressive media companies in India. BCCL is the flagship of The Times Group.

Till about 2005 the group believed in what is known as BEDUM policy- Broadsheet English Daily Urban and metro Newspapers only. However in the last 10 years small towns have prospered and advertisers wanting to reach them had been spending more on language newspapers. This, in turn was being reflected in the valuation multiples that companies such as Jagaran prakashan where attracting. This is when BCCL changed and decided that it has to grow across India for growth.
It then started acquiring language brands. In 2006 it acquired Bengaluru based publishing house Vijayanand printers to tap the southern market. It signed a joint venture agreement with rival HT media to launch metro now and allied with Rajastan Patrika for the market there.

While there are no estimates, its print business remains its biggest contributor to both revenues and profits. There are three other media businesses that BCCL has found some level of success with i.e’ Radio, Internet and out door.
Today television broadcasting is about one and a half size of the print industry and The Times Group it doesn't have a firm foothold in that business. More importantly, companies born long after BCCL such as Zee are now close to its size. Times global Broadcasting, a joint venture with Reuters did finally launch Times Now. But largely the group is not yet seen as a force to recon withing television the way it is in the radio or Internet.
BCCL also made a small foray in the overseas market with the purchase of virgin radio a UK based station in 2008.
So far BCCL has only been tested in Indian waters. Its sub billion dollar revenue seems like a drop of water in the ocean compared to the size of other global companies.

For now when the inner workings of the media giant remain closely guarded secret.