Prittle Prattle News in conversation with Dipta Joshi, Principal, Lexicon Institute of Media & Advertising
The Lexicon Institute of Media and Advertising and the Lexicon Institute of Hotel Management have joined hands to offer a week-long summer camp. The camp will help students master several trending skills in the hospitality segment and learn to make exciting YouTuber videos.
Could you describe more about the range of courses you offer?
The Lexicon Institute of Media and Advertising is designed to create professional media persons with cutting-edge media acumen and confidence. Our courses are relevant to students interested in pursuing careers in mass communications avenues like animation, advertising, and journalism, covering platforms like print news, broadcast media, and online media.
Our undergraduate course covers animation, game design, graphics, and media studies. In all, we offer over 15 courses related to animation and several short courses, including digital and performance marketing. These short certification courses regularly help learners monetize the host of new professions that have proliferated in the wake of the social media boom.
What is unique about the Lexicon Institute of Media & Advertising courses?
Given the dynamic nature of the media industry and the need for innovation in the news and media business, our focus is on providing industry-relevant theory and practical instructions delivered by experts from the industry. All our courses have been designed keeping the current and future industry requirements, ensuring our students can meet all industry expectations once they step out of our Institute.
However, we are also keen on fanning the entrepreneurial aspirations of today’s youth and are eager to create more entrepreneurs in the mass communication field. We have mandated entrepreneurial skilling as a subject for both our undergrad and postgrad students. This move is aligned with our Institute’s philosophy of ‘Creating the next generation of thought leaders in media,’ for we believe the media and mass communication industry is all set to witness exponential changes with the influx of new technological advances we are seeing today. For the next generation to succeed in the new environment, they will need to learn, adapt and develop original new ideas that can be implemented quickly.
Our undergraduate students are expected to work on projects simulating live-work environments, while our postgraduate students begin their capstone projects at the end of their first year. This ensures our students get hands-on experience before stepping out of the Institute.
Evolution of the animation industry over the past few years
India’s vibrant animation and VFX industry, which attracts some of the best global production studios to India, has led to the country becoming the second-largest entertainment market in the world. The demand from international and domestic advertisers, film, and OTT makers in the past few years boosted India’s growth, making it a Rs 24.5 billion market in 2020 despite the low period during the pandemic. However, the Indian animation, visual effects, gaming, and comics (AVGC) market is still just 1 percent of the global AVGC market ($260 billion) which means there is much opportunity for growth in this industry.
Q) What is the Institute’s Business-to-Customer success factor?
At the Lexicon Institute of Media & Advertising, we have identified several Business-to-Customer factors that should prove advantageous to our students when they enter the industry. Our premise, ‘Creating the next generation of thought leaders in the media industry,’ clearly states our commitment to our cause. We want our students to do more than learn media-related skills. We want them to dive deep into the processes and develop and bring their perspective to the trade they intend to make a career. Such a commitment requires a different approach to every aspect of the Institute and its programs.
We have a host of luminaries from the print, television, advertising, and digital media fraternity who are part of our advisory and governing board. Similarly, our faculty members come from the industry and have years of experience in their specific domains. Each individual brings a unique perspective, which they are keen and passionate about sharing with our students. Deliberating and interacting with them will give our students a worldview even before they leave the Institute.
We have created a curriculum that imparts updated knowledge and processes which meet industry standards. We have taken inputs from our advisory & governing board members and faculty for it. With our industry connects keeping updated with the professional requirements, we can make real-time updates to the teaching/learning methodology.
We have also incorporated much project work that reflects real work experiences for all our courses. Besides that, our undergraduate students studying animation and media work are given two months to prepare a showreel that showcases their work to prospective employers. Our postgraduate students will begin their Capstone project at the end of the first year. The experience will ensure they come up with solutions to real industry-related issues. These measures align with our mission of creating Day Zero Professionals.
We also have a host of other webinars, student-centric events, interactions, industrial visits, film and community club mentoring, and ten free certifications that include Film Appreciation, Personal Branding, Creative Writing, and more. Students are bound to find themselves involved in several curated events that are intellectually engaging.
Q) How did the company raise funding, or are you looking forward to the same?
The Lexicon Institute of Media & Advertising enjoys the strong backing of the Lexicon Group of Institutes, which was established in 2006. The Group has a strong network of educational institutions that caters to over 16,000 students. The Group’s strong support ensures that the Lexicon Institute of Media & Advertising can focus on its mission to provide industry-ready media professionals. Regarding funding, we are not seeking external financing currently. However, the Institute’s management will evaluate the need as we continue growing.
Q) Explain B2C Outlook: Post Covid-19 Scenario by 2030.
The rise of India’s animation, visual effects, gaming, and comics (AVGC) market has matched the country’s technological growth. We have also been among the most popular offshore animation and VFX hubs for many global film production teams. However, with the entertainment industry taking a hit during the pandemic, the Indian animation industry did record a 10 percent dip in its 2020 growth figures (Rs 24.5 billion) compared to the preceding year. So, we do have a little catching up to do.
Also, in the future, the global visual effects, gaming, and comics (AVGC) market is at $260 billion currently and is expected to touch $642 billion by 2030. For the Indian market, this represents a significant opportunity since we are now just 1 percent of the global AVGC market. Over the next few years, the highest growth in the sector is expected from the Asia-Pacific region, which includes India, Australia, Japan, and China. An additional positive for the Indian AVGC potential is its recognition from the Indian government. In April 2022, the central government created a task force that has outlined 20 lakh potential jobs in the sector as it touches a market size of $642 billion by 2030.
Similarly, the Indian media and entertainment industry, again amongst the world’s fastest-growing sectors, is projected to reach $100 billion by 2030. Growth in these industries will mean more job opportunities for media and AVGC aspirants.
Q) Why did you choose this industry over any other space?
The Lexicon Group of Institutes already offers courses in management, global MBA, and hotel management. Offering a course in media and entertainment was quite an organic next-level growth since the Group is already in the media space.
Given the massive growth opportunity the sector offers, we are already excited about the scope of job opportunities it provides our students. Also, our current courses in animation, journalism, and advertising are just a part of the bouquet of courses we will be offering in time to come. Our media-related programs are meant to fill the gap between the level of skilling demanded by the industry and that which the existing institutes are teaching.
Q) Do you like participating in CSR initiatives, and what motivates you?
This is our debut year and while we are involved and have lined up several community-based events too, our priority is ensuring our students are industry-ready. We will be participating in CSR initiatives as we grow and evolve.
Q) Could you share an inspiring quote for our aspiring youth?
American thought leader and teacher Christian Larson said, “Believe in yourself and all you are. Know that there is something inside your that is greater than any obstacle.” This thought resonates with the Lexicon Group’s philosophy of “Believe in Yourself.”