WELLINGTON, Thursday: Media companies are making a strong case, before the Epidemic Response Committee, for the government to step in as they face major reductions in news services to New Zealanders.
There’s been little –yet –on a financial boost from the state for our struggling vital media. But The Herald reports the media companies are “imploring” the government to redirect its advertising from Facebook and Google back to domestic services.
This is something that Ardern is already on record as steadfastly refusing to do, saying “that’s where the audience is”.
“If the financial standing of MediaWorks and Stuff decline, they may simply follow Bauer and close NZ operations.”
But Jacinda’s intransigence may cost us severely in the future, as our vital news service continue to fall over.
NZME managing ed Shayne Currie told the committee that ad revenue has halved. He said 70% of the company’s advertising came from small-to-medium companies, whose income had dried up during the lockdown.
Academic (and former Herald ed Gavin Ellis told the committee that ad revenue will still fall much further – up to 75%.
“I’m fearful that if the financial standing of MediaWorks and Stuff decline sufficiently, they may simply follow Bauer and close NZ operations.”
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