CHENNAI: Covid-19 has been the best and the worst for the media industry as it gives an opportunity to step up and deliver the news that the public has been demanding, according to Warren Fernandez, Editor-in-Chief, The Straits Times, Singapore Press Holdings, English, Malay, Tamil Media Group and President, World Editors Forum Singapore.
While on one hand misinformation and fake news have been spreading, many newsrooms across the world have starved for revenue and resources, he said while delivering the keynote address at the Media Unconvention 2020 organised by the Confederation of Indian Industry (CII), Southern Region, through virtual platform on Friday.
Credibility and quality journalism are key to success of media organisations. Quality journalism does not come for free or is cheap, but it requires hard work and resources besides support from many stakeholders in the society, said Fernandez.
Speaking during the occasion, Prabhu Chawla, editorial director, The New Indian Express Group, said that in the earlier times medium was meant to be the message, but now medium means ownership and leadership, where medium decides the message. “Value addition is becoming more important than values. Media is facing a lot of challenges and it is believed that social media has become more important than the conventional media which is an unconvention,” said Chawla.
Hari K Thiagarajan, chairman, CII Tamil Nadu State Council, said that the media and communication sector has become ever more diverse and dynamic, and technology adoption and digitalization are key to meet the expectations of new-age consumers. Srinivasan K Swamy, chairman & managing director, RK Swamy BBDO, said that a global study revealed that 9 out of 10 marketing people are affected by the pandemic and marketing strategy needs a fresh approach.
B Srinivasan, managing director, Vikatan Group, mentioned that the print media has 62 per cent of trust factor which is highest among all media and it is also the print which has lost more than 50 per cent of advertising revenue during the worst of times. Ninan Thariyan, CEO, DT Next, said that there is no substitute for print media and it is known for its credibility. Print enlightens, educates and enables smooth running of the global economy and civil society, he added.