Media business in the age of technology is becoming volatile. Media revenues had been diverted to technology-driven platforms and companies. Couple with these challenges is the public interest angle of the media. Media being a business, cannot afford to remain aloof. The changes in the environment will spare no industry/business. Media business owners must constantly overhaul their systems to meet the demands of the day.
The above and some other thoughts were shared by experts at the Africa Foundation for Young Media Professionals’ (AFYMP)Media Entrepreneurship Batch B training in Abuja Nigeria on Monday and Tuesday july17-19, 2023
Opening the sessions, Yinka Olaito, Executive Director AFYMP, told the participants there is no other sure way to remain afloat as a media business without the ability to generate funds for its operations. According to Yinka “Media business is a huge one today, heavy diversion of revenues that used to be exclusive rights of the media before is greatly affecting media business viability. If the media must survive, it must be able to meet its basic financial needs at least”.
The first speaker, Akintunde, who represented Dapo Olorunyomi, the Publisher of Premium Times. Spoke on “Media and Technology” warned participants to follow the trends, know the impacts and take advantage of the changing technology despite its disruptive nature as no one can remain aloof”. “Media entrepreneurs must constantly look for the opportunities and embrace them instead of complaining about it. The world we are now will continue to throw overboard those who refuse to make reasonable adjustment” says Akintunde.
Aloma Idris, the Managing Editor of Premium Times. Who also represented Dapo Olorunyomi, spoke on Idea, creativity and the changing media business Was very poignant in his remarks “there is no two-way to it, as media entrepreneurs, it is either you are willing to innovate or you die”.
“In today’s world, ideas do not reside in one’s own person. Every opinion must be weighed on its own merit. Members of your team must be allowed to share their opinion, Media CEOs should be humble enough to accept tested verdicts of other team members who may have superior arguments. This has helped Premium times to excel” Aloma added.
More than anything else, media owners must know what they stand for. “Doing accountability journalism for long may rob the media houses’ adverts from certain corners as they will keep stepping on toes. What your goal is will show when the ships are down” Aloma concluded.
Tolu Ogunlesi, former Presidential head of digital strategy and a journalist who spoke on “News, ethics, what is missing today?” advised media entrepreneurs and journalists present to pursue professionalism while balancing the business issue. “Journalists should never contribute to the publishing and spreading of fake news, Ethics should rule and distinction should be seen between a quack and real professional”.
The wrap off session by Aro Leonard was centred around Content strategy and revenue generation. “The two days’ event witnessed an opportunity to learn and bridge some gap in my knowledge space”, says Jairus Awo, a media business start-up owner.
Another participant from Kaftan TV, Amadin said “The sessions equipped me to be a better professional and I will start running with the knowledge gain”. Pamela Ephraim, a journalist with The Leadership Newspapers expressed her joy for being selected as she gained so much from the knowledge shared.
