Media Business: Poverty Is Expensive – Sonaiya
By Olusegun HOSEA .7th June, 2024.
The chief executive Officer of Women FM 91.7, Toun Okewale Sonaiya has said poverty is expensive Disclosing this in a programme when she was addressing crops sections of some Journalists in Lagos .At the Africa Foundation For Young Media Professionals Fellowship during her lectures held at the Centre for Management Development, Magodo Lagos State ,She advised the Digital Media practitioners to always strive hard in their ability to ensure that they overcome poverty by way of introducing innovative ideas that could generate passive income to their media business in order to make profit and also sustain the entity .
Toun Okewale Sonaiya,who spoke on Media Business and Technology Implications for Entrepreneurs, advised the online Media practitioners to focus on the creativity that would enhance the business to make money. While explaining that innovation was very important if any media organization wants to grow beyond traditional means of advertisement that rearly comes from the cooperates organization or individuals as the case may be. Her words ” See , poverty is very expensive.If you need to succeed in this business of Journalism, you need to be creative in order to make money. Innovation is very important and consistent matter in whatever you are doing. ”
The experienced Broadcaster , also admonished the Fellows to be more proactive in their business. According to her, credibility matter most in the journalism profession. She said, doing a live Instagram programme could also be a way of getting recognized by your followers and inturn generate revenue from such programming due to level of innovative and credibility one attached to such programme .
Toun Okewale,who advised some of the online Media practitioners who are not skillful in this angle of live Instagram programme to get the services of most of the Young Corpers to help them in their business as most of them understood social media activities more than the old people this day.
She also encouraged them to make use of AI in the business of Journalism in order to make their job easier. While advising them to embrace latest trends if they wants to succeed, Toun Okewale Sonaiya said partnership with people of like mind is the key. She said the news is the order of the day and you need to be in partnership for you to succeed.
In another development, Toun Okewale Sonaiya explained that it’s important for a Journalist to balance their stories or reports and be mindful of the ethics of the profession.
KAYODE LADEINDE -TVC NEWS
From the angle of Kayode Ladeinde, Executive Editor,TVC News , opined that media products are contents like Digital contents,skits,sports and entertainment stories that are being enjoyed by the consumers or audience. He categorized the consumers into two which are paying and not paying. Why speaking, Kayode Ladeinde said it’s important to always put in mind or considered the importance of the not paying audien or consumers whenever a programme in being designed because, according to him, the paying consumers are coming to you because of the large numbers of the followers that are watching your programme.
He also, talked about the important of the targeted audience to the programme. Kayode Ladeinde who spoke on the Media Products and Consumer engagement advised the online Media practitioners not to compromised the standard policies laid down in their organization to any of the advertisers just because they wants to make more money as these may have direct or indirect negative impact to the not paying customers by way of loosing most of them to another viable media organization if what drives their interest to your business is not visible again at the scheduled time know by then.
The Chronicles of Kolapo Olapoju’s Perspective.
In the cause of the fellowship, Kolapo olapoju, a Senior Editor at the Cable News paper who x-rayed media business project and Funder’s Management, said there are various ways of funding the Journalism business.
Speaking on the traditional ways like obtaining grants from the philanthropists Donors and non profit organization said it is important for a Journalist to do a good job if he or she wants to attract funding for his own organization. In his chronicles, Kolapo olapoju was of the opinion that a Journalist could make money when they started educating people on whatever area they believed they are expert on .
He said it’s time for Journalists to begin exploring the modern day technology to their advantages in the media global space as technology has provided us with the huge opportunities and that they could tape in for the benefits of their own industry.
He asked them to creat a niche for themselves that would inturn generate more revenue sources for their media business. According to him, the era at which media organization was totally reallying on the sole advertisement from one cooperates organizations have passed as these to him could lead to what we called media capture which could be dangerous to any of the media organization that dependent on that alone. To him, Journalists have a reservoir of knowledge and these knowledge need to be converted to money rather than allowing it to die in their brains. He said poverty should not be condoled in all ramifications and to overcome this , a journalist need to engage himself in multi dynamic ideas that could generate more passive income to him and his organization if he or she wants to remain in business and sustain it for a long periods of time.
