Mainstream media sustainability amid digital transformation
The media industry faces significant challenges, particularly in print media, which is struggling due to declining advertising revenue, reduced circulation, and competition from digital platforms. Advertising revenue, essential for profitability, is dwindling, especially in Namibia, where print circulations are declining. While some media outlets have successfully adapted to new technologies and diversified revenue streams, others struggle to find sustainable models. This trend is global, with many newspapers, including in South Africa, shifting to digital formats in response to changing consumer preferences.The role of media has evolved, with citizen journalism rising and the digital revolution amplifying diverse voices. Social media has become both a threat and an opportunity for traditional media, serving as a platform for content marketing and direct audience engagement. However, the rapid spread of misinformation on these platforms challenges the trust traditionally placed in print media. This trust is crucial for the sustainability of legacy media, ensuring it remains a preferred choice for readers despite changing consumption patterns.
Despite these challenges, the media continues to play a vital role in democracy, particularly in Namibia, where it acts as a watchdog, ensuring transparency and safeguarding democratic functions. The upcoming general elections will further test the media's role in reflecting and reframing societal issues.
From a corporate perspective, media is not just a source of information but a critical tool for stakeholder engagement, brand building, and strategic communication. A positive media presence can enhance a company’s reputation and consumer trust.
Maintaining a vibrant, free, and ethical media is essential for preserving public trust and ensuring the media's ongoing role in democracy. Upholding principles of accuracy, fairness, and independence is crucial for the media’s survival in the digital age, where trust remains the foundation of its viability.
* Festus Nakatana is the Corporate Affairs Manager of the Capricorn Group.
** Opinion pieces and letters by the public do not necessarily reflect the opinion of the editorial team. The editors reserve the right to abridge original texts. All newspapers of Namibia Media Holdings adhere to the Code of Ethics for Namibian Media, a code established jointly with the Media Ombudsman.