18 Comments

This is a great piece and is really insightful though I disagree with one minor point - in theory, the media is supposed to be the watchdog of society, criticizing everything from billionaires to governments, policies, and big tech, but now the internet (and attention economy) has flattened the playing field and threatened to obliterate their relevance. The media is in crisis partly because now everybody is on the internet fighting for clicks, social media has changed people's news consuming habits over the past 2 decades and the advertising model of monetizing internet content has compromised some of the otherwise credible media outlets. Then we also have startups like Medium and substack who take a page from the playbook of companies like onlyfans and substack - who are decoupling content producers from their publishers and going direct to consumer (readers), over the past few months we've seen some of high profile staff writers of notable media houses in the US quitting their jobs and cutting cheques with Substack. The summary of my long ramble is that everybody is coming for the media's lunch, the media model will have to evolve to keep with the times. Nigerian companies like Paystack are only the beginning, I predict that more Nigerian startups are going to come for local media's relevance in the coming months and years, the Nigerian tech space is not far behind.

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"I predict that more Nigerian startups are going to come for local media's relevance." Perfectly said. At the core of this is the disruption of what we know and understand the media's role to be. The repercussions of this for journalism, especially, make me a bit worried. In the end, it boils down to how well we can monetise great journalism without having to forego integrity. Because I think that journalism itself will always be relevant.

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The core of journalism is integrity - news told as is,- from whence the normal man findeth it hard to reach.

When this becomes mere content creation, it only suits the purpose of selling the brand and selling and selling more - which is lopsided holds little water.

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Well said!

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The more I think about this, the more it appears to be an evolution rather than a threat. So traditionally, the media would provide us with current events and articles about diverse topics. With the nascent approach to content creation and consumption, I foresee a situation where brands such as paystack would own the spaces of well researched, insightful, niche, and relevant content. At the same time, traditional media becomes a collection of current events. In any case, as you have rightfully pointed out, it depends on what part of the aisle stakeholders choose to stand.

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Sep 13, 2021Liked by David I. Adeleke

A very interesting read! Love the insights shared

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Thank you, Chisom!

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Aug 19, 2021Liked by David I. Adeleke

insightful read

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Thank you!

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This was an insightful read. As a writer, I enjoyed the arguments you put up and the way you have allowed your readers to learn the facts and choose a position. Personally, I am intrigued by the deconstruction happening in the media industry, especially the niche information being provided by brands. The rippled effect is going to benefit creatives and I am here for that.

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Jul 9, 2021Liked by David I. Adeleke

This is a very interesting read for me, and I must commend the hard work of research put into the delivery. This write-up further exposes what has been going on in the battle for attention and sales. I believe Paystack is using one of the Big Tech tools and others will follow as stated. looking forward to more insightful reads.

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You're welcome. Thank you for reading!

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Becoming your customer's buddy.

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Correct. The definition of content marketing.

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I really enjoyed the twist! Haha

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Haha! Thank you!

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This is such a brilliant read. Nice work David.

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Thank you, Oyindamola!

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