At media leaders summit, practitioners seek new strategies for impact, sustainability
Media owners and managers present at the 3rd edition of the Nigerian Media Leaders Summit, which held on the 5th and 6th of May in Abeokuta, the Ogun State capital, discussed and agreed that the business of media management required more than what it used to be, particularly relying on some revenue through advertisement, and having a retinue of reporters gather at a physical newsroom just seeking news.
The participants agreed that media leaders must become practically innovative by developing strategies for financial viability; work with team members who understand the evolution in news and value ecosystem. It would be a great deal to ensure active connections with consumers of their news and information products
The summit organised by the Journalism Clinic and themed ‘ Market Squared: Turning Connections Into Gold in the Age of AI’ had Nigeria media leaders share their experiences and proposed solutions to address the challenges as they look forward to desired change in the sector.
The panelists raised issues covering the justifiable use of Artificial Intelligence tools, the need for stronger research, connecting with audiences, creating and driving other projects that can raise funds, and importantly, serving a niche.
Sharing his experience, Editor-in- Chief of Premium Times, Musikilu Mojeed, highlighted the danger of reliance on advertisement funds alone and how that model wrecked the once vibrant ‘234Next’ Newspaper. He advocated for both local and international partnerships, though noted that negotiating local partnerships had not been any easy.
While Adeyeye Joseph of the Punch Newspapers talked on benefits of creating a reliable tech-team in-house, Founder of the Women’s radio station WFM 91.7, Toun Okewale Sonaiya, and the CEO of Branama Tv, Betty Dibia Akeredolu-Ale, made their arguments for their respective audiences with emphasis on creating events capable of fundraising, while satisfying the audiences as well.
The participants collectively agreed that news products must be seen and felt for greater value and addressing needs based on local realities.
Earlier in his welcome address, Founder of the Journalism Clinic, Mr. Taiwo Obe, urged participants to network in order to create new cultures for shared value.
