Rédaction Africa Links 24 with Georgina Crouth
Published on 2024-03-10 22:25:03
The production of quality journalism in the post-truth era is facing numerous challenges, including declining advertising revenue, the dominance of digital giants like Facebook and Google, and a skewed market that undermines the industry’s ability to thrive. The co-founders of Daily Maverick, Branko Brkic and Styli Charalambous, highlighted these issues during their testimony at the Competition Commission’s Media and Digital Platforms Market Inquiry.
Founded in 2009 as a digital media business, Daily Maverick initially aimed to operate in a fair marketplace by providing high-quality journalism to online audiences. However, they soon realized that social media platforms were dominating the advertising spend, amplifying sensationalism and untruths, and failing to compensate media houses for their work. This trend not only undermined the concept of truth but also posed a significant threat to democracy.
Brkic emphasized the importance of truth in maintaining a healthy functioning society, highlighting the role of the Fourth Estate in upholding democratic values. He warned against the destructive influence of social media platforms like Facebook and Twitter, which he believes are undermining the democratic system by blurring the lines between truth and lies.
Daily Maverick has struggled to stay afloat in the face of market failure, prompting them to adapt their business model and explore new revenue streams. They have turned to readers for support through a voluntary membership program, avoiding paywalls to keep journalism accessible to all. However, the competition for advertising revenue, both from other news publishers and big tech companies, has made it increasingly challenging to sustain quality journalism.
The rise of Google and Facebook has introduced unforeseen challenges in the digital advertising landscape, leading to the proliferation of misinformation and click fraud. Social media platforms have failed to combat these issues effectively, leading to a decline in trust in the news sector. Daily Maverick has invested heavily in investigative journalism, despite the risks involved, to provide essential information for a healthy democracy.
To address the broken system, Daily Maverick has proposed state interventions to support the media industry in South Africa. These interventions include tax incentives for businesses supporting journalism, advertising rebates for supporting businesses, and imposing a remedial “tax” on tech companies that have benefited from questionable practices. These measures aim to level the playing field and ensure the sustainability of quality journalism.
In conclusion, Daily Maverick’s testimony sheds light on the challenges facing the media industry in the post-truth era. By addressing market failure, combatting misinformation, and promoting transparency and accountability, the industry can strive towards a sustainable future that upholds the values of truth and democracy.
Read the original article on Daily Maverick
