…Pan-Atlantic University holds fourth media roundtable discussion
The rapid rise of artificial intelligence (AI) is forcing journalism to confront a pressing question: how can the industry remain financially sustainable while adapting to a technology that is reshaping how news is produced, distributed and consumed?
This was at the heart of discussions as media experts, academics and communication professionals gathered at Pan-Atlantic University (PAU), for the fourth media roundtable discussion, where they examined emerging opportunities for monetising journalism and identified new roles for communication professionals in the AI era.
Temitope Falade, head of brands, communications and marketing at PAU, in her address describe the media roundtable theme; “Beyond the Byline: Monetising Journalism in the age of Artificial Intelligence” as timely.
“Journalism continues to play an essential role in the society. However, the business model that supports journalism is under considerable pressure. We can attest that traditional advertising revenue has declined, and audiences are increasingly moving towards digital platforms, as consumer habits are also changing.
“Many people now expect to access their news without paying for it, at the same time, and artificial intelligence and social media are changing how information is produced, distributed and consumed,” she noted.
Falade emphasised that media organisations are no longer just competing with one another, but are also competing with technology companies, influencers and an almost endless stream of digital content for the attention of audiences. Yet, she said that these challenges also present opportunities to media and communication professionals.
“Many media organisations can now develop products, reach specialised audiences, build stronger communities, make better use of data and technology and create partnerships that deliver value.
“The challenge is, how to pursue these opportunities without sacrificing credibility, editorial independence or public trust. Producing credible journalism requires resources, trained and paid professionals,” she said.
Temitayo Fagbule, bureau chief in charge of West Africa at CNBC Africa, in his keynote address, disclosed that to navigate the AI challenges, and monetise media contents, journalists and media houses must ensure that their contents are original, independent, and storytelling.
Fagbule note that in the contemporary era, media contents are majorly in the smartphones, and not necessarily at the newspaper stands.
“Money is made where the content is consumed. News is like entertainment, it’s not just one thing. News is not literally a list of headlines and hard news.
“Before social media, hard news mattered, but now, with social media, it’s gone. Media contents should be tailored in the town-crier ‘agogo’ format, serving multiple purposes at a time, it can be used for religious activities, ceremonies, and as well as music,” he said.
Furthermore, he emphasised that the town crier was replaced by the news sheet, television and radio, which was superior because it could be consumed at leisure.
However, he highlighted that the media is being replaced by the smartphone, which is portable, shareable, and could be preserved for future reference.
“A smartphone is portable, consumed at leisure, shareable, and it could be well-preserved for future reference. The print’s great liability was being stuck in time, it could only report yesterday’s news.
“As a journalist, to make your audience come to you, producing the best journalism is very important. Before you can monetize, it actually has to be what standout,” he noted
Other media experts also shared some secrets on how journalists can survive in this age of AI.
Samson Folarin, editor of Weekend Titles at PUNCH Newspapers, said newsrooms cannot compete with AI in terms of speed or news volume, but must focus on trust and value creation.
“There is no way we can compete with artificial intelligence, especially in terms of volume. Artificial intelligence can generate one thousand stories in a day or even millions of stories in a day.
“So, what do we do as journalists? Trust is very vital, trust is that currency that media organisations cannot play with and cannot afford to lose. But then, apart from trust, there is also the place of value. We need to create value as media organisations,” Folarin said.
He cited a recent 47-day investigative journey by a journalist from Kano to Libya, noting that no artificial intelligence can replicate such human experiences, physical toll, and undercover reporting.
According to Folarin, newsroom leaders must become AI-literate to streamline repetitive tasks like headline generation, editing, proofreading, and transcription.
Wale Olajubu, executive director of the Health Business Academy for Africa (HBA), urged news media organisations to adopt seamless digital payment channels to monetise their content and sustain operations.
“A lot of newsmen don’t think about the financial back-end of their business. You are passionate about your skill set and delivering news, which is good, but that business has to be sustained.
“If you have 15 million subscribers and you are not monetizing your subscriber base, after a few years, those 15 million readers are just rental people. Make it easy for people to pay on your platforms through seamless payments,” he said.
Rosemary Egabor – Afolahan, communications executive, and founding member of News Central TV, noted that journalists must continually adapt their skills to stay ahead of industry shifts. Media practitioner Peter Okwoche, a veteran broadcaster, advised newsrooms to understand their target audience and customise content based on the specific social platforms’ readers use.
Charles Ogwo is a proactive journalist, driving education, and business innovations for over 10 years.
He leads initiatives leveraging tech to enhance storytelling and build topnotch performing team.
Charles is passionate about harnessing technology to inform, engage and empower communities.
