Experts Highlight Innovative Revenue Models As Pinnacle Unveils Flagship Platform

Experts have highlighted innovative revenue models that media platforms must adopt to operate sustainably in the digital age.

They gave the highlights on Tuesday, October 15, during the formal launch of ‘Pinnacle Daily’ a flagship news platform powered by Pinnacle Digital Resources Limited.

Delivering his keynote titled, ‘The Economics of Media Business: Understanding Revenue Models and Profitability,’ Isiaq Ajibola co-founder and former managing director of Daily Trust newspaper, said prior to the advent of digital media, newspapers had predictable revenue streams – mostly through print copy sales and advertisements that sustained the newsroom, but that has changed today.

Ajibola observed that with the advent of online platforms, readers no longer have to wait for 24 hours to read news on papers as they want breaking news, analysis, video, commentary, and conversations which are now available in real time.

This trend, he said, has changed media business, hence the need for innovative strategies for generating revenues.

“It has become necessary for everyone in the media to evolve or risk going to the oblivion,” Ajibola stated.

“The shift from print to digital has transformed the traditional media business model. Yet, it has also opened new revenue opportunities.”

He highlighted some revenue models that digital media platforms can adopt which include, digital advertising (which enables advertisers to reach readers based on demographics, interests, and browsing history), sponsored contents, subscription and premium contents, brand partnerships, and events and conferences.

The veteran journalist and media entrepreneur advised media organisations to invest in human capital, technology deployment and also focus on adept management of profitability for sustainable revenue flow.