Home ECONOMY Citizen TV Still The Money Kings as Digital Disruption Hits Industry Hard

Citizen TV Still The Money Kings as Digital Disruption Hits Industry Hard

by biasharadigest

Citizen TV made Ksh1.1 billion between January and November this year even as the Kenyan media industry struggles to shake off the slump in advertising revenue that followed the emergence of digital sources as the primary modes of news consumption in the country.

An industry overview report compiled by research firm Ipsos Synovate shows that during the year, KTN made Ksh908 million while NTV’s revenue stood at Ksh655 million.

In what should represent bad news for managers at KTN News and K24, Inooro TV, a vernacular TV station made Ksh605 million while the two former stations settled for Ksh454 million and Ksh403 million respectively.

Kass TV, another vernacular TV station made Ksh302 million while the youth entertainment TV channel Switch TV made 50 million during the period.

The report shows that TV continues to be the most popular advertising avenue gobbling up 56% of the advertising billions, radio 35%, while print commands a paltry 9%.

Kass FM remains the most popular radio channel with advertisers attracting revenues of Ksh253 million blowing other nationally popular radio stations out of the water.

Radio

Kameme Radio attracted revenues of Ksh221 million while Citizen Radio bagged Ksh190 million.

Classic FM made Ksh158 million while Royal Media Services owned radio Hot 96 raked in Ksh126 million.

Urban radio Capital FM generated revenues to the tune of Ksh95 million while West FM, another vernacular station made Ksh63 million.

Print

In the print media business, The Nation continues to be the top draw with Ksh340 million going back to the Twin Towers (Nation Centre).

The Standard newspaper made Ksh218 million having already issued a profit warning two weeks ago expecting this year’s profits to be 25% lower than last year’s.

People Daily made Ksh64 million, The Star56 million and Business Daily Ksh40 million.

Despite the humongous figures in the picture, the industry is struggling and media houses no longer hold the bargaining power with advertisers, this is manifested by the regular lay-offs that have claimed popular media personalities. The latest high profile purge was at Mediamax, the media company that owns K24 where more than 150 journalists lost their jobs.

The Kenya Media Landscape Report 2019, shows that media houses no longer wield the same power and would be best suited revising their business models.

See Also: Relief as Government Releases Advertising Billions Owed to Media Houses

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