Journalism is facing one of its greatest challenges due to new technological trends and shrinking profits but practitioners must continue to devise new strategies.
These were the submissions of seasoned media practitioners at a panel discussion on “Journalism as Business-News, Views and Advertising.”
The panel session was part of events to mark the 20th anniversary celebration of Daily Trust newspaper.
The discussions, which was moderated by an ace broadcaster Kadaria Ahmed, centred on the future of journalism, new trends in advertising and revenue streams available to media practitioners brought together seasoned journalists, broadcasters and media administrators, who offered divided opinion on whether journalism should be profit driven or public-centred.
According to them, Journalism must redefine its mission and identity if its priority is for public good or profit-driven.
Publisher of online newspaper, Premium Times, Mr Dapo Olorunyomi pointed out that it was still possible to do journalism that is sustainable and profitable, while also acting as a social service for public interest.
Speaking on other revenue streams available to media practitioners, Olorunyomi said, “The challenge is to try a mix model. So, advertising is additional revenue, the aesthetics of the paper and a membership drive.
“Some of the greatest newsrooms in the world today have tried to put a pay wall so that readers pay for subscription, but it has crashed their readership,” he said.
Also commenting, the Director, Buying & Control at MediaReach OMD Nigeria, Yinka Adebayo said the trends in advertising towards journalism were changing and practitioners needed to be in tune with the trend.
According to him, advertisers were now more attentive to what the general public are interested in which may not necessarily be politics or governance.
“If care is not taken entertainment is taking away the advertising budget,” the advert guru said.
“The focus is for us to align with the growing trend in a strategic way because we have our corporate identity as a brand. We must make sure we give them what they have not seen anywhere,” Adebayo said.
Daily Trust 23/03/2018
