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Media must syndicate for commercial viability - Oppong Nkrumah

BY: News Desk Report
Kojo Oppong Nkrumah — Minister of Information
Kojo Oppong Nkrumah — Minister of Information

The Minister of Information, Kojo Oppong Nkrumah, has called on media establishments to consider syndication as a means of improving their market potential and commercial viability.

He said the opening up of the media landscape had led to the creation of hundreds of media houses, many of which were not economically viable.

At the opening of Oil City Radio, a new radio station in Takoradi in the Western Region yesterday[May 30, 2022], the broadcast journalist and lawyer said smaller media houses combining their market shares to create a larger footprint for programming could command significant revenues with which they could pay their staff better.

The radio station is expected to serve Kwesimintsim, Apremdo, Anaji, Airport Ridge, among other communities, to educate and sensitise locals to the development agenda of the regional administration and project businesses.

Reality

“As more and more media houses open, the reality on the other side is that the commercial market for media operations is not expanding that much,” the minister said.

He said it meant that more media stations were fighting for the same revenue.

“So right from the onset, one of the things I want to encourage you to do is explore ways to syndicate the radio station with other like-minded stations in the region or across the country to tap into the market potential of those stations to grow the listeners of the station and be financially viable,” he added.

Low ranking

Mr Nkrumah said the highest contributor to Ghana's low ranking in the new framework for measuring press freedom, according to the Reporters Without Border (RSF) 2022 World Press Freedom Index, was the poor economic state of media houses and journalists.

According to the report, economic factors greatly influenced media work in Ghana.

The minister, therefore, urged the media to consider the syndication of programmes and revenues across multiple platforms to ensure the financial viability of some struggling media houses and ensure the freedom of journalists to do their work without financial inducement.