CHAPTER ONE
1.0 Introduction
1.1 Background
to the Study
Media Finance is considered as a safest mode of media development
and sustainability. This avenue of investment provides greater flexibility in
making financial agreements and contracts, easily adjustable with the media
objective and principles.
It is noteworthy that media finance is not simply a
matter of funds transfer from lender to borrower; it has multi-dimensional
aspects. There are several related sources of income generation by media practitioners/organization
these includes income generate from advertisement, public service announcement,
airtime/airspace sales, and government subvention e.t.c
Therefore, for broadcast
organizations to make money and to survive in the long run, they must have
constant sources or streams of revenue. Revenues come from sales, and the
various categories of sales of a service or manufacturing firm are known as
revenue streams. While measuring and reporting revenue is the domain of
accounting and finance departments in organizations, determining new sources or
streams of revenue is the responsibility of top management, strategic planners,
and marketing forecasters. Ademola, (2009).
Meanwhile, competition is driving
down advertising rates of broadcasting media especially in Nigeria. The number
of channels is increasing while there is no infrastructure to support the
presence of these channels. The audience has a shorter span of attention and
they are fragmenting. Under reporting of subscription fees have been a
traditional problem and the advertising revenues are growing at slower rates
every year. When faced with such a scenario broadcasters are looking up for various
avenues to increase revenues.
Commercial
may refer to advertising which is paid classified messages in newspapers,
magazines, flyers, billboards, and paid announcements over radio and television
to sell a product, item or service. Commercial broadcasting is the practice of
airing radio and television advertisements for profit making.
Radio
advertisement, paid announcements over the radio to sell a product, item or
services. While television advertisement is another paid form of announcements
over the television to sell a product, item or services. Wikipedia.com.
The five new or alternative funding
options for public broadcasting stations include: television advertising, radio
advertising, retransmission consent fees, paid digital subscriptions and digital
game publishing. Molokwu and Obiaku, (1997).
The existing sources from which
public broadcasting already draws include: merchandise licensing, digital
online advertising, education and state government fee-for-service
arrangements, events, renting donor lists to direct marketers, tower leasing,
production services. Some of the major source of revenue for broadcasting media
are: Commercials, Sales of Air, time to
Freelance Presenters, Donations, Grants and Sponsors.
Commercialization
is therefore any kind of dourness of fund from sales. Where money in generated
from something in form of sales. A situation whereby the broadcast media
generate income from the news by selling air time for news instead of
broadcasting the news based on accepted news values. Ajala (1996).
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