Nigerian Broadcast Media Alternative Funding Sources and Performance in the Digital Age

Abstract

This study examined Nigerian broadcast media funding and performance in the digital age. The study was premised on the propositions of Media Ownership Theory, Media Dependency System Theory, and Organisational Performance Model. The study used a mixed research approach: in-depth interviews and survey. The study used a multi-stage sampling technique to select the sample. A total of 27 in-depth interviews were conducted while 235 questionnaires were administered. The study used descriptive statistics to analyse the data. The study found streaming, video on demand, subscription, social media advertising, and promotion as some of the alternative online funding sources in the stations. It was also established that the stations attract more users on their platform through quality content and maintaining good relationships with stakeholders. The study concluded that the advent of the internet and online platforms have opened opportunities for broadcast media to harness economic benefits by leveraging their websites and social media platforms to share and stream content and to also engage in other activities such as podcasting. The study recommended that broadcast media should invest increasingly in digital technologies and also harness social media platforms to enable them explore effective alternative sources for generating funding from the digital platforms; and to also collaborate with giant global technology firms such as Google, Amazon, Microsoft and Facebook in areas such as software, content creation and distribution to explore ways of generating returns from the online content and to enhance their performance.