As internet and telecommunication innovations continue to transform how news is produced and consumed, Pinnacle Daily is set to leverage modern digital strategies to deliver and promote accurate, reliable, and engaging news content.
This was revealed by the Chairman of Pinnacle Digital Resources Limited, Abimbola Adeseyoju, on Wednesday, October 15, during the launch of Pinnacle Daily, its flagship news platform in Abuja.
“We did not want to be just another digital media outlet. We wanted to be forever relevant in the lives and decision-making process of the new generation of media consumers, while also targeting the Gen Z or Gen Alpha,” Adeseyoju said.
The ICIR reports that Pinnacle Daily is the brainchild of the International Centre for Investigative Reporting (ICIR), a respected media non-profit known for its commitment to accountability and investigative journalism, which offers advertising, media coverage, media consultancy and other services.
Adeseyoju noted that the platform aims to bridge the gap in making relevant decisions from the avalanche of news and information on employment, career, health, education, leisure, entertainment, finance, business opportunities, wealth creation and more.
“We want to be the trusted channel of choice for this generation when it comes to decision-making in their personal, economic, and political lives. We want to be able to provide needed rational and disadvantageous information to our consumers so they can win in life,” he added.
The co-founder of Daily Trust, Isiaq Ajibola, who was the keynote speaker who spoke on “The Economics of Media Business: Understanding Revenue Models &Profitability”, said that advertising is a lifeline of media sustainability.
“Apart from primary advertising in the hardcore, which still forms a significant part of revenue for the newspaper, the digital ad is now mostly print-driven and personalised,” Ajibola said.
He charged Pinnacle Daily to adapt all the relevant digital and manual strategies to generate sustainable income in the fast-evolving media industry.
“Newspapers can leverage their credibility to create events and products. E.g. hosting conferences, summits, or webinars on key issues like business, technology, education, or governance, brand partnership, and campaigns,” he added.
Also in his comments, the Senior Vice Chairman and Editor-In-Chief of Leadership media group, Azubuike Ishiekwene, a panellist, said that the fundamental thing that controls digital media revenue is the algorithms.
“Google, for example, is a search engine that controls at least 90 per cent of our searches, followed by Bing, which is a product of Microsoft. They determine essentially the kind of revenue that you get. So when you display that, keep in mind that having a platform is one thing, but dealing with the algorithms that determine the kind of revenue you get is entirely different,” Ishiekwene said.
He emphasised how online news consumers rely on social networks for stories than necessarily through your online platform.
“So I would like to suggest to Pinnacle, as we have seen their online platform, which is quite robust, I have tested it, to also work seriously at building online platforms from which people can go and consume their product before they even reach their online presence,” he added.
In the same vein, Musikilu Mojeed, the Editor-In-Chief and Chief Operating Officer of Premium Times, said that great content is key to survival in the media industry.
“Maintaining that standard is what is important. You must consistently produce great content if you want to survive. There is no other way. If your content is not great enough, or if they are just like existing content, it will be difficult. Already, those of us in the market, it’s already difficult. The market is saturated,” he said.
The Chairman of the Occasion, the former Governor of Osun State, Olusegun Osoba, who was represented by Eric Teniola, said that Pinnacle Daily comes at a time when journalism professionals and the media are going through very dramatic changes.
“I commend the leadership of Pinnacle Digital Resources India, publishers of Pinnacle Daily, and for braving the odds of today’s harsh media terrorism, to set up a news department that will be value-driven, and that I’m sure engineers will be up early to pay for,” he said.
He emphasised how the economy, businesses and Nigerians will benefit from a value-driven digital newspaper platform like Pinnacle Daily.
“In the age where technology drives media business, I think it is important for media entrepreneurs to see media as a business, and understand the interplay between having a sound product, understanding that the audience of consumers is key, and being ready to deploy technology appropriately. I commend the board, management, and staff of Pinnacle Daily. I am proud that you have succeeded and become a profitable media angel and withstand the test of time,” he added.
The launch and flagship of the platform saw dignitaries across the Nigerian media industry, business owners, and others.
Nanji is an investigative journalist with the ICIR. She has years of experience in reporting and broadcasting human angle stories, gender inequalities, minority stories, and human rights issues. She has documented sexual war crimes in armed conflict, sex for grades in Nigerian Universities, harmful traditional practices and human trafficking.