Every day, I come across people who want to know why we could have done something as stupid as resting the weekly print edition of Nigerian Entertainment Today. With each enquiry, I take my time to explain what’s happening, how consumer habits are changing, how news has become fast food, how circulation in Nigeria is a mess, how media agencies and newspaper agents are evil, how small businesses are better off shedding that excess print baggage and focusing on all the opportunities digital provides.
Digital adoption will continue to be on the increase, as internet access gets better in developing countries like Nigeria. Newspaper and magazine sales will continue to drop, as consumers look to radio, TV, blogs and other means to get information and entertainment. It’s my wish that newspaper owners will do digital better – I’ve seen, and must commend what The Guardian is doing, with the help of Ventra Media. I’ve seen how Vanguard is using technology and innovative reporting to build impressive traffic. But, in a market as promising as ours, I believe there’s more to be done, if the big seven are to survive the next 10-15 years.
It’s not only the newspaper business that’s being disrupted by technology.
Music, transportation, medicine, education, agriculture, banking, communications, construction, just name it. Even technology itself is being disrupted.
To understand what has happened, what’s happening, and adapt accordingly, is one thing. To imagine – and prepare for – what is to come is another.
To determine what should and could happen, and enable such is where you want to be – that’s what our friends in financial services have done; what those in telecommunications are doing. It’s what’s consuming the entire music industry.
Things will never remain the same. Media organisations need to begin to think themselves technology companies; think themselves marketing companies. They must begin to see the telcos and TV platforms as competition. Even the music and movie industries.
It’s time to disrupt yourself, your business, and all those trying to disrupt your market.
It’s time to see the future.
It is possible