This month’s consultancy workshop is about media consultancy. Angela Heath responds to questions....
Media – where does that fit in consulting? Much of consultancy is aligned around market sectors or industry verticals. Media consulting can be found in TMT (technology, media and telecoms) and TME (technology, media and entertainment) practices, or as a stand alone unit. There are a number of medium-sized and boutique firms who’ve made a name for themselves as specialists in the media sector. There are also in-house consultancies at well-known media organisations.
What do media consultancies do? Pretty much the same as any consultancy with a sector focus: advise on mergers and acquisitions, help with restructuring, map out strategy in a fast-changing industry. Clients and projects might be: a newspaper group trying to replace lost classified advertising revenue; a cable TV company seeking new content providers; an entertainment group entering new markets.
Sounds interesting. Who do they recruit? Having a few years experience with a media company certainly helps, although as web-based media services become increasingly important, a career in an online business is useful too.
I went to Drama School and I watch a lot of telly. Useful, but not essential attributes. Better if you’ve done well in a business role or business-facing technology role in a publisher, broadcaster or media-related organisation.
Will I get paid as much as Wossie? No. Salaries are pretty much in line with most other consulting sectors: £30-40,000 for an Analyst; £40-50,000 for a Consultant; £50-70,000 for a Senior Consultant/Manager; £70-100,000 for a Principal/Engagement Manager. In-house salaries are 10-20% lower.
Will I get to meet Natasha Kaplinsky? You’ve got as much chance of that as I have of meeting George Clooney. Next question please.
Is the work mainly London based? Not at all. Whilst there’s a media cluster in London, there’s also one in Manchester. Not to mention Hamburg, New York and Los Angeles. Consultancies have a national, if not international reach in this specialist area, so you should expect considerable travel and quite a few nights away from home.
Any recruiting going on at the moment? Sure. BLT is currently hiring for a strategy boutique focused on the media sector and a fast-growing specialist media consultancy.
I’ve got this great idea for a reality TV show... And you’re up for eviction from this blog if you don’t switch off now.....(continued on page 94)
For more information on media consulting opportunities, contact Angela on firstname.lastname@example.org now.