Media sustainability in a developing economy: what model for Nigeria?

Abstract

The duality of media businesses makes profitability and survival problematic in Nigeria’s socio-political and economic climate. Indeed, a number of studies have interrogated the political economy of media operations in Nigeria. It seems there is a dearth of studies that interrogate how the political economy affect media survival and what models can sustain them. This paper, even though qualitative, explores how the political and economic factors shape media operations on one hand but goes further to discourse the place of strategic planning and corporate governance in media survival. Grounded on leadership and structural theories, the article draws on empirical studies relating to leadership and corporate governance to situate how effective governance can keep media business afloat. The study concludes that though the Nigeria press operates in a climate of uncertainty, with the right leadership it is possible for the media to navigate the challenges and run professionally. It recommends the need for subsidiary business to support media organisations.