Media organisations have been advised to re-strategise their mode of operation and content creation in order to be sustainable and profitable.
Represented by Bongani Siqoko, a strategist at Arena Holdings, Mahloele said media organisations need to start thinking outside the box on how to make their businesses profitable.“Building a sustainable media business is associated with being purpose-driven, therefore, media organisations, like other business concerns, must clearly define their purposes, from which they must come up with definite strategies for growth, development and sustainability models,” Siqoko said.
“So, what is your purpose? It would help if you asked yourself this question because it is imperative to have a purpose if you want your business to be sustainable. If you don’t have one, take your time to have one”.In his keynote address, Dayo Aiyetan, executive director of ICIR, said it is time for the Nigerian media to have conversations about the future and how to maximise profitability.
We need to have a national conversation on the future of the media, the sustainability of the media.” On his part, Dapo Olorunyomi, publisher of Premium Times, said for the media to operate sustainably, it must begin to see itself as a producer of technological products, operating innovative business models.
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