PANELISTS at a media sustainability conference organised to commemorate the 10th Anniversary of the International Centre for Investigative Reporting (ICIR) have called on media managers to prioritise entrepreneurship in other to stay afloat.
Abigail Ogwezzy-Ndisike, a professor at the University of Lagos (UNILAG), said media organisations should adopt a business strategy.
She also spoke of the need for audience research.
“You must do audience categorisation and auditing. This would help to know how best to reach the audience, whether through influencers or any other way. This would help to keep and sustain partnership with the audience.”
According to her, audience research will determine content and help in adopting an effective business strategy.
“There must be need to find a sustainable business model. The modern media business must address what the consumers need,” she added.
In a similar vein, Angela Agoawike, the Chief Executive Officer of Omalicha Radio, said there was a need for media organisations to adapt to changes.
“Media managers have to look at ways of maximising what they do. There must be strategy to manage media business and media as the Fourth Estate of the Realm. That balance must be there for sustainability without pulling down the role of media as the watchdog.”
Umar Pate, a Mass Communication professor and Vice Chancellor of the Federal University Kashere, Gombe State, in his own submission, said the government should develop policies that support the media.
“The government must look beyond hate speech and fake news and support the media with relevant policies. Amazon and Google are taking all the big adverts. We can have a share of that if we have a favourable policy from the government,” Pate said.
He further called on the media to guard against poor content and always improve their quality.
Kadaria Ahmed, CEO RadioNow, spoke of the need for media owners to use their respective outfits to hold government accountable.
“Our journalism must set the country on the right path,” she said.
A former CEO and Editor-in-Chief of the Daily Trust Newspaper Dan-Ali Mannir stressed the need for media organisations to collaborate and dominate their own space, since the market is still evolving with limitless opportunities.
“We must remain committed and collaborate and engage the market,” he said.