This archive report was first published on 3 July 2020.
Time to rethink media financing model ¶
As the COVID-19 pandemic continues to ravage the world, the media industry is facing unprecedented challenges. With many newspapers and television stations struggling to stay afloat, it is time to rethink the traditional print-and-ad model.
According to a recent GeoPoll study, TV consumption increased by 355,000 days after the government issued countrywide safety protocols, including a stay-at-home advisory. However, the pandemic has also led to a significant decline in advertising revenue, which is the lifeblood of the media industry.
With the media playing a crucial role in disseminating pandemic-related information, it is essential that we find ways to support them. The Media Council of Kenya (MCK) has taken a positive step by pumping Sh100 million into media associations and community stations to mitigate the effects of the pandemic on journalists.
However, more needs to be done. The interventions by the MCK will only be sustainable if they converge with innovations driven by media houses themselves. It is time for the media industry to rethink its financing model and explore new revenue streams, such as partnerships and sponsorships.
As Thomas Jefferson once said, 'Eternal vigilance is the price of democracy.' The media plays a vital role in checking our excesses and nudging us onto the straight and narrow when we go astray. It is essential that we safeguard the media and ensure its survival for the health of democracy.
