The course, which targets GCE O-Level school leavers, aims to address the shortage of media executives with strong business skills.
V Seshamani, director of school of business management at NYP, said a media-savvy executive should have a complete understanding of the media industry, from product marketing to budget management involving media production.
He said the scope of the new programme covered a "holistic value chain development", from concept to commercialisation of media production, including capabilities in actual production and exposure to digital media technology.
"A pervasive development strategy within the programme is to create an entrepreneurship mindset among the graduates to enable them to become self-starters to embark on their own production houses," Seshamani said.
Effective July, students will be offered year-long, hands-on training (six months on campus in NYP's production studios and six months as interns in the industry, attached to broadcasting or production houses, advertising firms and print media companies).
NYP will work closely with the Association of Independent Television Production Companies (AIPRO) which will provide internship positions for students.
A recent study by the Media Development Authority (MDA) on manpower needs revealed a demand for executives with a through understanding of the media business. The current crop of graduates from most institutions of higher learning graduate with a classical mass communication focus, mostly starting out in script writing and other creative work with no exposure to business management.