Mediawatch
Media under the sinking lid in 2024
Dec 14, 2024
Duncan Greve, founder of The Spin-Off and media industry commentator, joins Glenn Kine, former CEO at Warner Bros Discovery NZ, to discuss the troubling economic landscape for media in 2024. They explore government intervention in struggling sectors, like racing and ferries, and examine local media's fight against economic decline and misinformation. With insights into the impacts of AI and corporate restructuring, the conversation sheds light on the uncertain future and necessary regulatory changes for diverse media outlets.
31:59
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Quick takeaways
- The media sector is facing unprecedented economic challenges in 2024, prompting many outlets to shift towards audience-based funding models for survival.
- Despite governmental interest in supporting struggling industries, specific legislation for local journalism remains stalled, raising concerns about the sustainability of media moving into 2025.
Deep dives
Impact of Economic Challenges on Media
The media landscape has faced significant economic challenges in 2024, leading to drastic reactions from various media outlets. Local startups are turning directly to their readership for financial support, while large broadcasters are experiencing unprecedented shutdowns, including complete news operation closures. The financial crisis was exacerbated by shifts in advertising revenue to offshore online operators, highlighting a need for state intervention. As discussions about the future of news media continue, the lack of actionable government policy raises concerns about sustainability and viability moving into 2025.
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