MTN Nigeria's Share Price Soars 9.87% After Regulators Approve 50% Telecom Tariff Hike
MTN Nigeria's share price surges 9.87% after regulators approve 50% telecom tariff hike, boosting investor confidence in the company's profitability.
Alexis Rowe
People Daily, a 32-year-old Kenyan newspaper, has made the bold decision to halt its print operations and transition to a digital-only model. The newspaper published its final print edition on November 29, marking a significant shift in the Kenyan media landscape.
The move is seen as a response to the declining advertising revenue and changing consumer habits that have been affecting traditional print media. People Daily, which adopted a free, ad-supported model ten years ago, claims that the change is driven by environmental sustainability and a bid to attract younger, digital-savvy audiences.
However, industry insiders suggest that the move is primarily a cost-cutting measure, driven by the struggles of sustaining a print operation in a market long reliant on corporate and government advertising for survival. Mediamax Network Ltd CEO Ken Ngaruiya stated that "People Daily going green means using digital printing to publish an e-paper and reducing 100% the environmental impact of newspaper production and associated supply chain processes while still upholding the proper ethics of journalism."
The newspaper aims to amplify diverse voices and align with the growing shift to online news consumption. However, success is uncertain, as established players like Nation Media, East Africa's largest media company, struggle with the complexities of sustaining online media operations. Ngaruiya added that "in a bold move, People Daily has now embraced this transformation fully, becoming the country's first major newspaper to transition entirely to digital publication."
The Kenyan news market has been challenging, with experts arguing that traditional media companies were slow to adapt when online platforms emerged over 15 years ago. This sluggishness allowed digital outlets to secure advertisers and establish long-term business relationships with them, one advertising executive told TechCabal.
Kenyans are increasingly favoring digital-only news platforms over traditional media, according to a report by Odipo Dev. Nairobi Gossip Club (NGC) topped digital rankings, surpassing Citizen TV and Nation Media-owned NTV Kenya. During the June 2024 protests, NGC was Kenya's leading news source on Meta platforms and overshadowed traditional media.
Advertisers are reallocating budgets to online channels, where targeted campaigns and measurable results offer more value. Younger audiences prefer the immediacy and convenience of digital news, leaving print media struggling to maintain relevance in a digital era.
The shift to digital-only is not unique to Kenya, as publications like Nigeria's Premium Times and Sahara Reporters have built reputations for digital journalism, often prioritizing online distribution to reach wider audiences. As the media landscape continues to evolve, it remains to be seen how People Daily's bold move will fare in the competitive digital news market.
MTN Nigeria's share price surges 9.87% after regulators approve 50% telecom tariff hike, boosting investor confidence in the company's profitability.
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