Senior Vice Chairman and Editor-in-Chief of the Leadership Media Group, Azubuike Azu Ishiekwene, has urged Nigerian media organisations to embrace innovation, invest in talent, and use data-driven strategies to remain profitable in the changing media landscape.
He made the call on Wednesday October 15, at a panel session during the launch ‘Pinnacle Dialogue’, a flagship news platform powered by Pinnacle Digital Resources Limited.
The event, themed “The Economics of Media Business: Understanding Revenue Models and Profitability,” explored how quality journalism can thrive alongside the quest for commercial sustainability in Nigeria’s evolving digital space.
Mr. Ishiekwene noted that the decline of print media reflects the rapid digital transition.
He pointed out that no print newspaper was present in the room, describing it as a sign of how the industry has changed.
“If this event was taking place about 15 or 20 years ago, newspapers would be fluttering all around the room. That’s clearly an indication of where we are going,” he said.
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He cautioned media owners that digital platforms, while vital, depend heavily on algorithms controlled by big technology companies.
“Google controls at least 90 percent of our searches, followed by Bing. They determine how much visibility and revenue we get,” he explained.
According to him, most readers now access information through social media rather than directly visiting news sites.
He encouraged media houses to build strong online communities that connect audiences to their main platforms.
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“Online platforms are not as viable for news consumption as social networks,” he added. “Media owners must take social media seriously because it influences how audiences consume content.”
Stressing on the Importance of data driven Report, he said: “It’s important for us to pay attention to data and also what the data is telling us, both in terms of how we build our content and how we engage with readers and audiences.
“Having a platform is one thing, but dealing with the algorithms that determine the kind of revenue you get is entirely a different subject,” Mr. Ishiekwene said.
Building Sustainable Media Models
The expert stressed that the success of any media organisation depends on its ability to invest in talent, adopt flexible leadership, and use data to guide operations.
“One of the key challenges we all face as media people is finding talents that can help us build a business model that lasts.
“Another challenge is our editorial culture. Until we begin to change our mindsets and build a culture that resonates with the changing times, we’ll continue to struggle,” he said.
He also criticised outdated newsroom practices, saying many leaders resist innovation. “You have dinosaurs managing what is essentially a process of change. Unless you change the mindset of those leading your teams, progress will remain difficult,” he warned.
To stay sustainable, Ishiekwene said newsrooms must encourage teamwork, creativity, and openness to new tools and audience behaviour.
Lessons from the Past
He recalled the fall of Daily Times as a lesson in poor business foresight and data mismanagement.
“The brand built in 1926 was totally stripped. The story of Daily Times is the story of Nigeria itself. All the data that could have been used to build huge revenue models is lost,” he said.
Mr. Ishiekwene advised current media owners to use data not only to plan content but also to understand audience behaviour and drive revenue.
“It’s important for us to pay attention to data and what it tells us about our audiences,” he emphasised.
Media Must Evolve — Okino
Vice Chair and Editorial Board Chair of Blueprint Newspaper, Zainab Okino urged media organisations to evolve and prioritise human resources as part of their digital transition.
“Media organisations must adopt evolution and become digital as the media space continues to change,” she advised.
Mrs. Okino said that every successful media organisation begins with the right team. “The way an organisation starts, especially the kind of people it employs, determines its growth. Human resources are at the core of every sustainable newsroom,” she said.
The panel agreed that the survival of Nigerian media depends on innovation, adaptability, and the smart use of data.
They emphasised that quality journalism must align with modern business practices to stay profitable.
Rafiyat Sadiq is a political, justice, and human rights reporter with Pinnacle Daily, known for fearless reporting and impactful storytelling. At Pinnacle Daily, she brings clarity and depth to issues shaping governance, democracy, and the protection of citizens’ rights.