News Broadcasting
Media & entertainment sector struggles with vice-like grip of layoffs
Mumbai: Two months into 2024, and the bloodletting in the corporate world continues. A large media and entertainment conglomerate – which failed in its strategic partnership – is believed to be lopping off more than 10 per cent of its work orce in India and overseas. It has already laid off around five to six per cent and more job losses are around the corner.
Another large broadcaster – which is a leader in its genre – has issued pink slips to again about 10 per cent of its staff.
An international news broadcaster that had a run-in with the Indian government has bid ta-ta to the heads of its distribution and ad sales team. Indian news channels too have stricken off the names on their attendance rosters, as they struggle to gain profitability.
“More companies are likely to follow suit as advertisers realign their spends around live sport – especially cricket, both women’s and men’s,” says a media observer. “But all the major players in live sport seem to be finding it tough with advertisers squeezing them for extra inventory, resulting in yields per spot becoming much lower than last year.”
With poaching becoming rampant between broadcasters, more often than not, departees are not being replaced, leaving positions vacant, asking those who stay to double up their jobs for those being asked to go.
The national elections seem to be the only other saving grace for the limping media and entertainment sector – especially news channels.” It is going to be a bonanza,” said a news channel CEO. “But what about after elections, it’s back to the slowdown again?” he questions.
Production houses too have seen the writing on the wall, and have trimmed their rosters. Pointed out a media analyst: “TV and OTT shows budgets have shrunk and those that don’t work are not getting renewals for another season or are being put to the sword. Production houses work with a lot of freelancers – on creative, production, etc – who are hired for projects. Only core creative and production teams are retained. However, some of them have taken proactive steps and have laid off even the core teams and are focusing on show development.”
What’s also dragging down the media and entertainment sector, is the impact that the US writers and actors strike has had on India’s earlier buzzing with activity VFX and animation space. The six month halt has sent the Indian animation and VFX sector into a tumble with projects being delayed and work slowing down. Most studios – in India and overseas – have streamlined their operations, laying off close to 15,000 professionals over the past few months.
“Jobs are tough to come by,” said the CEO of an international job-reliant studio. “We hope to see some green shoots later this year and more work come our way. Until then, it is belt-tightening time.”
Observers say the sector has not seen the last of the headcount cutting. More bloodshed is on the way.
On the other hand, the layoffs are spurring professionals to start up new ventures – either individually or by roping in like-minded talent to do so. Yes, venture capitalists and private equity firms are not freely disbursing investments to all and sundry in the start up but those that are getting financing are putting their heads to the plough to make their initiatives successful.
News Broadcasting
CNN-News18 to air live counting day coverage for five state election results on May 4
The channel is rolling out its biggest election coverage machinery yet for results day on 4th May
NOIDA: The votes have been cast. Now comes the reckoning. CNN-News18 is pulling out all the stops for results day on 4th May, when counting begins across five battleground states — West Bengal, Assam, Kerala, Tamil Nadu and the Union Territory of Puducherry — in what promises to be one of the most closely watched electoral verdicts in recent memory.
The channel’s coverage, titled Battle for the States: The Verdict, kicks off at 7am and runs through the day across linear TV, connected television and YouTube. It is the culmination of CNN-News18’s multi-format editorial initiative, Battle for the States, which has tracked the polls from the beginning under the theme Road to Power.
At the operational heart of the coverage will be the Live Results Hub, the channel’s central command centre built to collate, verify and process real-time data flowing in from reporters stationed at counting centres across constituencies. The hub combines newsroom intelligence, analytics and on-the-ground reporting to deliver what the channel promises will be the fastest and most accurate results coverage in English news.
Leading the on-air charge will be primetime anchors Rahul Shivshankar, Anand Narasimhan, Aman Sharma, Nabila Jamal and Shivani Gupta. They will be joined by a wide panel of commentators including author Chetan Bhagat; GVL Narasimha Rao, senior leader of the BJP; Smita Prakash, editor of ANI; activist Saira Shah Halim; political analyst Sumanth C Raman; Abhijit Iyer Mitra, senior fellow at IPCS; Amitabh Tiwari, founder of VoteVibe; columnist Abhijit Majumdar; Nalin Mehta, managing editor of MoneyControl; political analyst Tehseen Poonawalla; senior journalist Subir Bhaumik; and political analyst Manojit Mandal.
Shivshankar, who serves as editorial affairs director at CNN-News18, set out the stakes plainly. “Counting day is one of the most watched events in the electoral cycle, where speed and credibility are tested in real time,” he said. “Battle for the States: The Verdict is built on that promise, combining ground reporting, sharp analysis and cutting-edge election technology to give viewers the clearest and fastest route to the verdict. On May 4, CNN-News18 will once again be the nation’s most trusted channel to witness democracy in action.”
Smriti Mehra, chief executive of English and Business News at Network18, framed the coverage in broader terms. “Elections are defining national events, and audiences turn to brands they trust in moments that matter,” she said. “CNN-News18 has consistently led from the front in every election coverage, and this special programming reflects the scale of our ambition and editorial strength.”
The channel has form here. It claims to have been India’s most preferred English news destination for election results for the past 20 years, covering everything from the 2024 general elections to the Delhi, Maharashtra, Bihar and BMC polls on the back of what it calls an “Always First, Always Right” record. Five states, one day, and a nation waiting for answers. The clock starts at 7am on 4th May.
