THE INFLUENCE OF ONLINE JOURNALISM ON REVENUE GENERATION OF NIGERIA NEWS MEDIA.

THE INFLUENCE OF ONLINE JOURNALISM ON REVENUE GENERATION OF NIGERIA NEWS MEDIA

ABSTRACT

It is known especially in recent times that the media serve the public directly as a source, both of information and guidance. It is also a well known fact that the new media has continued to reshape the face of journalism in the world both positively and negatively. There is no doubt that the mass media especially in third world countries like Nigeria, are feeling the impact. Information technology is increasingly affecting our lives in a manner which has become common place. Journalism is also one area which technology has affected. This journalism has been undergoing dramatic changes as it adapts to and takes advantage of digital technologies. New media developments are having a profound effect on all levels of the journalistic enterprise. The pace of these changes is quickening, altering the practice of the profession as never before. These changes, which encompasses a wide range of activities from news gathering to editing and dissemination, are bringing many benefits, but with attendant challenges. Media organizations as any other social institutions have always used technology in the production and distribution process. They have been sensitive to innovations in communication technologies, mainly due to economic reasons. In the last decades of the 20th century, print media outfits were profitable business, but now, all indicators are showing warning lights. Readership is declining steadily especially among young readers who are now more attracted dependent on the Internet for their news. Media houses especially hard copies of newspapers, magazines and the rest, are gradually going into extinction and the resource base of various media houses is gradually dwindling. The News Agency of Nigeria (NAN) which is the mother umbrella of all the media house is also being affected by this development. Many of its `would be? subscribers now prefer the internet to read and get their news stories at the confines of their room, offices etc. Readers prefer to click and pay less to get news.

CHAPTER ONE

INTRODUCTION

1.1 Background to the Study

Experts in the nation?s media and marketing communication industries at a forum organized by the Advertising Agencies? Association of Nigeria, (AAAN), in 2010 in Lagos, raised alarm on the future of newspaper in Nigeria. Majority of the participants concluded that unless the print media braced up to the challenges posed by the new media, it might go extinct in the nearest future.

This apprehension was no doubt a fall-out of the report which portrayed an alarming slide in the patronage of newspaper. According to the 2010 study carried out by the Advertisers Association of Nigeria (ADVAN) across the country, the daily sales figure of all the newspapers was less that 300,000, meaning that only one in every 470 Nigerians buy newspapers daily (Ekeng, 2010). Putting this reality in proper perspective, Popoola (2010) said that all the newspapers in Nigeria today have combined circulation figure that is far less than 500,000 copies per day when compared to 1980 when the population of Nigeria was about half of what it is today.

Presently the stockpile of unsold copies of newspapers and magazines in the circulation departments of most print media organizations is a vivid sign of this challenge. Ekeng (2010), disclosed that The Punch as the number one selling national daily only circulates 34, 264 copies, The Sun was ranked third with 25, 632 unit sales. Vanguard got 25, 241, while Guardian and Thisday came 5th and 6th respectively, with 25, 222 and 21, 703 daily sales. Daily Trust, the most popular newspaper up North has 11, 672 daily unit sales. Tribune, the oldest surviving newspaper in Nigeria, was another surprise, managing only 8, 314 daily sales. The above mentioned dailies constitute what is known as the top 8 in the standing. The others combined, including Compass, Daily Independent, Leadership, National Life, New Nigerian, Mirror and Westerner, could barely rake up 1,600 daily sales. The question then should be, why the alarming slide in the patronage of newspaper? This is very important as a wrong diagnosis will invariably lead to an inappropriate treatment. Ekeng (2010) noted that circulation decline is a global phenomenon as the newspaper industry in America, Europe and even Asia are also affected.