Social Media Week Lagos 2020

Digital media and specifically digital television, podcasts and radio, have disrupted the traditional media industry. While the effects of the disruption are immediately visible in Europe, America and Asia, it is more gradual in Africa. But as access to the Internet and 4G data services has greatly improved in the past 5 years, the big players in the industry, especially in sub-saharan Africa have begun to pay attention.

In Nigeria, media specialists and industry professionals have begun to question the long-term viability of traditional media. Already, traditional newspapers are beginning to see a decline in their revenues, as the big spenders are beginning to move their budgets online. This may soon happen to television and radio as more stats emerge into how well Nigerians are consuming digital media. However, while the trends are pointing to the fact that things are changing, many traditional media owners do not see a revolutionary change taking place in the next decade. This assertion is supported by clear evidence that the vast majority of Africans do not have access to data and streaming services that will give them 24 hour access to television or other media, like traditional media does. Also, the industry's biggest spenders, with a budget of more than $1 billion, are still quite comfortable reaching their market and publics through traditional media

There are arguments on both sides; but one thing is clear, every player in the media industry understands the changes taking place in the digital space, while obvious, are still largely unpredictable. Therefore, it is better to be prepared.
 
Takeaways:
-Traditional  media will remain relevant due to adoption of innovation and convergence although in new forms
-Creation of more jobs and multiple platforms (online and web tams as well as interactivity and multimedia)
-Greater capacity to set the agenda and drive traffic via social media handles and geo targeting
-The advantage of retaining credibility
-Greater commercial revenues and more