• May 20, 2024

Media Entrepreneurs charged on monetisation strategies,Innovation

 Media Entrepreneurs charged on monetisation strategies,Innovation

By our Reporter

Operators in the media industry have been advised to step up their game to be able to earn extra income by taking advantage of monetisation strategies.

Tosin Adesile, a Journalism Teacher and Executive Director of Yolechub Ltd gave the advice during the University of Lagos Mass Communication Alumni Association,(UMCAA) Master class session held virtually recently.

The programme put together by the Master Class team gathered players professional journalists,academics and media entrepreneurs.

Tosin Adesile during the session spoke on media entrepreneurship and monetisation channels for small and medium enterprises adding that the downswing of print journalism has led to the rise of digital media as a driving force behind the growth of media entrepreneurship.

He noted that the sector is a dynamic one that required creativity and innovativeness, and thus urged operators to continue to develop themselves through innovative contents to remain relevant and to be able to retain followers,get clicks in exchange for money.

He equally advised business owners to be consistent and remain focus on their passion saying only those consistent wins.

According to him, media role in the society, include educating, informing, entertaining, setting agendas, monitoring governance, and making the government accountable to the people.

Adesile discusses the growth of online media in Africa and its impact in accessing and delivering information for social and business to facilitate social change, shape public opinion, and influence societal priorities.
 
Adesile further encapsulates how advances in communication technologies have provided opportunities for small companies and individual entrepreneurs to create and deliver media content, resulting in new revenue streams, risk spreading, and strengthened relationships with audiences and advertisers.
 
“There are various way of monetisation using the avalanche of opportunities provided by the media which include advertisements, Google AdSense, advertorials, social media platforms, crowdfunding, launching events, and awards”,said Adesile.

The Dean of the Master class, Dr. Kehinde Oyesomi in her remark said the insightful presentation is an inspiration to individuals interested in starting their own media ventures or seeking ways to monetise existing media platforms.

She further advices participants that it is not just enough to visualise a business or idea’s success, it is important to take action to bring that vision to life.

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