What are the advantages of studying multimedia?

Quite Many actually.
We live in an era driven by multimedia , everything from the graphics and User interface of your mobile phone and computers to the effects you see in movies are driven by multimedia.
These is all on the digital scale of things.
On the Print side we have magazine designs, movie posters, Poster and card design and so much more.
it would depend on where you want your specialty to be or which side excites your interest the most

Many people argue that interactive multimedia has the potential to create high quality learning environments which actively engage the learner, thereby promoting deep learning.
However there is growing evidence that the potential of interactive multimedia is not being fulfilled.
This paper argues that if we are to design effective interactive learning application then a user-centred approach to their design should be taken.
This approach should be based on general human-computer interaction principles as well as educational theory.
The paper starts with an overview of the learning process.
Consideration is then given to how the key elements of interactivemultimedia (multiple media, user control over the delivery of information, and interactivity) can be used to enhance that process, with the emphasis being on promoting deep learning.
The paper concludes by giving suggestions for future work.

Digital and technology gave rise to a lot of multimedia products and creations like movie animations and a lot of other devices which help people in entertainment, information, engineering, interaction and medical needs.
So studying multimedia is always an advantage with lots of job opportunities.