Media owners and managers at the third edition of the Nigerian Media Leaders Summit, held on the 5th and 6th of May in Abeokuta, the capital of Ogun State, discussed and agreed that the business of media management required more than what it used to be, particularly relying on some revenue from advertising and having a retinue of reporters gather at a physical newsroom just seeking news.
The Journalism Clinic’s Themed: ‘Market Squared: Turning Connections Into Gold in the Age of AI’, saw Nigerian media experts discuss their experiences and provide ideas to solve the difficulties as they look forward to the desired transformation in the sector.
In his welcome address, Mr. Taiwo Obe, founder of the Journalism Clinic, urged participants to network to create new cultures of shared value.
During the conference, the panellists discussed the appropriate use of Artificial Intelligence technologies, the need for more research, interacting with audiences, generating and driving other initiatives that can attract fund, and, most importantly, fulfilling a niche.
Musikilu Mojeed, Editor-in-Chief of Premium Times, shared his experience, emphasising the dangers of relying solely on advertising money, and how that model destroyed the once-thriving ‘234Next’ Newspaper. He pushed for both local and international relationships, but admitted that forging local ties had not been simple.
While Adeyeye Joseph of the Punch Newspapers talked on benefits of creating a reliable tech-team in-house, Founder of the Women’s radio station WFM 91.7, Toun Okewale Sonaiya, and the CEO of Branama Tv, Betty Dibia Akeredolu-Ale, made their arguments for their respective audiences with emphasis on creating events capable of fundraising, while satisfying the audiences as well.
The participants collectively agreed that news products must be seen and felt for greater value and addressing needs based on local realities.
