Source: ‘Survival of media sector hinges on diversifying revenue’ – herald
Herald Reporter
THE future of journalism and the media sector is going to be hinged on the ability of media organisations to diversify income and revenue streams, a senior official has said.
Speaking at a media sustainability policy dialogue in Harare yesterday, Zimbabwe Newspapers Group Acting Editorial Executive, Mr Elias Mambo, said the news media stable has adopted a digital first strategy that is aimed at unlocking new revenue streams.
“Revenue diversification is not a new phenomenon,” said Mr Mambo.
“It is a practice that even vegetable vendors employ to supplement income from their main trade.
“At Zimpapers we have started this diversification of income not out of an intent to veer out of our traditional news media business, but to supplement and save it.”
He said the world over, media funding models have significantly changed and those failing to adapt to the digital transition are sinking into oblivion.
“It will be folly for us to maintain the same business models that worked when we had higher circulation figures. Audience consumption patterns are changing and we must be prepared to meet their different needs,” Mr Mambo said.
Speaking at the same occasion, Mrs Susan Makore, a veteran broadcaster serving as the World Association of News Publishers WAN IFRA Women in News deputy executive director of the Africa Programme, said the media sustainability dialogue dovetails with the Government’s media policy strategic pillar on media sustainability.
“The dialogue on media sustainability is happening at an opportune time when the conversation is finding expression within government chambers.
“As a global organisation that draws its mandate from media organisations, whether big or small, it is in our interest to support interventions that ensure the media remains viable,” she said.
Mr Nigel Nyamutumbu, the coordinator of the Media Alliance of Zimbabwe (MAZ), the local convenor of the media sustainability dialogue, said the recommendations put forward by media stakeholders would be instrumental in implementing the government’s policy proposition on media sustainability.
“The thinking of Government to underpin the media reform process on a policy framework is welcome and should be supported,” said Mr Nyamutumbu.
“The implementation of the strategic pillars on local content production, media sustainability and skills development should be stakeholder driven. Forums such as these support the government’s policy propositions on media sustainability and in co-creating contextual solutions based on what media organisations are already implementing.”
COMMENTS