Estimated Income forecasting for Media Industry : Flush with money or otherwise, get a forecast from astro strategist
Media is a powerful tool and has been a powerful tool ever since it came into existence. Today there are various channels for people to choose from. In such competitive times, media houses face challenges that are unique and intrinsic to fast-paced businesses. And it is in times like these that they need clear guidance regarding estimated income to give the best to their consumers. Hirav Shah, famous astro-strategist has made it his mission to bail out organisations, big, medium and small to reap maximum benefits overcoming the most obvious challenges
Entertainment is a large industry and has quite a few heads in its bouquet. In this article, we will discuss media — media meaning print, television and web media. The media industry, like it or not, is a part of the parcel of people’s lives these days. The media dictates, dominates and sets the agenda for various aspects of one’s life.
Of course, there are those who harp about the effects of media, media when used or exposed to in a limited way can be educative and entertaining. There are of course the big media moguls that have the capability to direct how governments or organisations are meant to function. Then there are the long tail media houses that are part of the big game either for the love of spreading information, entertainment or for taking their cut from the bigger pie.
Love it or hate it, but the media cannot be done away with in today’s world. In the words of William Bernbach, “All of us who professionally use the mass media are the shapers of society. We can vulgarise that society. We can brutalise it. Or we can help lift it onto a higher level.”
It’s the media narrative in some form or the other that guides and rules the human minds in present times and will probably in times to come. There was a time when newspapers ruled, then it was radio and later it was the television. Today it is web and social media. The channel through which media operates might change, but the media is bound to be a part of human lives.
Advantages of media
● To begin with, media provides a means for disseminating information and to a wide audience. Right from basic weather to events to political matters to entertainment updates, the media is a window to the world. Let’s take the latest example of corona pandemic. If it were not for various forms of media, it would have been impossible to spread the news about the fight against the deadly virus.
● Apart from everyday happenings to current affairs, the second advantage of the media is that it brings to us the best of art, culture and ways of life that we wouldn’t have known otherwise.
● The third advantage is that through advertising, the media provides a platform for businesses to gain market shares, which in turn keeps the economy running.
● The internet has brought with it social media. This is a great way to connect, spend time and to advertise.
● Another advantage of online media is that we can sit anywhere and access anything, in almost real time.
In fact, the four functions of media are to inform, to persuade, to entertain and transmit culture. To quote Malcolm X, “The media’s the most powerful entity on earth. They have the power to make the innocent guilty and to make the guilty innocent and that’s power. Because they control the minds of the masses.”
As said before, the world might look at the media as a power house or a mere mass entertainer, the media indeed has the power to captivate their minds and attention.
Media houses can be successful, but to remain profitable, they need sound advice
Problems that media houses face
1) From giant to a small time media house, there is always the fear of competition. While a media house could rule the industry for years, it could take minutes for another equally component media house to overtake the market, with its incisive reporting or appealing entertainment options.
2) There are several issues that a media organisation faces from gender issues, to body image issues, to diversity, intellectual property, marketing and consumerism, violence, etc. A media house’s reputation is constantly gauged and one ‘notable’ mistake can tarnish its image forever. So image or credibility is of utmost priority for any media organisation.
3) Localisation. At times, a media house gets stymied in its growth and remains restricted to a region. That could mar the ad revenues.
4) Expansion can also lead to problems. While having multiple editions appears to be normal for a successful media house or organisation, expansion could lead to territory wars, poaching of staff, inventory issues, supply chain and logistics issues.
5) Employee retrenchment. It is common in the media for employees to try out new avenues in search of new challenges or bigger challenges. Monetary benefits can also be another reason for top employees leaving organisations. In some cases ideological differences lead to employees leaving the organisation.
6) Territory and TRP wars. In the present era, it is the one who is most heard and most watched that garner the maximum ad revenues and territory and TRP wars often turn dirty and nasty, which could affect the functioning of an organisation.
7) Money. Money could be another major reason for media houses, again big or small. Constant money has to be pumped in to keep the cogs function efficiently and seamlessly.
8) Technology. What is new today becomes outdated tomorrow. While giant media houses diversify in accordance with changing times, small, medium and large media houses face the problem of adjusting and readjusting with every new development.
9) Unethical practices. In a world full of media players, there are n number of organisations that indulge in unethical practices for money. This could pose a problem for media houses that stick to straightforward and ethical journalism or entertainment.
Is the media industry growing?
■ The Indian media and entertainment industry is projected to increase at a CAGR of 13.5 % from 2019 to 2024 and is estimated to reach $43.93 billion 2024. So there is tremendous scope for growth.
■ In the United States, the entertainment and media market was worth an estimated $678 billion in 2018 and is expected to grow to over $720 billion by 2020.
The need for revenue forecasting for Media Industry
a) Determine how sales are calculated for your industry
b) Create a profile of your ideal customer
c) Estimate your market share
d) Determine how your customers will buy from you
e) Predict the average dollar amount or whatever your country currency is, that amount of each purchase for each of your product or service categories.
How Hirav Shah, India’s one of his kind astro strategist can help in matters of estimated income
Usually, all kinds of businesses have consultants. Consultants from the best of industries and brightest of minds are hired to tackle the real-time problems of a business and media houses are no exception.
Anticipation of sales and stocks, consumer tastes and interests can be gauged by various parameters and forecasting can be done accordingly. There are tried and tested methods to do the same.
Given such a scenario, why should or why must one consult an astro strategist? Where is the need to consult Hirav Shah for something that a consultant can do?
Well, the answer is simple. He is a business consultant and corporate guru himself. His line of work keeps him updated with various developments across industries. He has immense knowledge of the inside and outside of industries, which can be a gold mine of information.
His timely and precise guidelines could help you estimate income for the coming years and adjust your finances accordingly.
He takes a deep dive into your personal astrological chart and gives you precise information about when to invest and when to divest.
His precautions and suggestions will take you places and make sure that your business thrives for years to come.
And to top it all, Hirav Shah is one of his kind astro strategists in the industry, who can mix business tactics and details of your Business chart to give you gainful insights.
So take your call today! Get business acumen and astro insights in one go with Hirav Shah