Source: Al-Wafd Newspaper
Prof. Dr. Ali Mohammed Al-Khoury
Egyptian journalism, like other global journalisms, faces significant existential challenges that threaten its continuity and role in society. These challenges include declining print newspaper sales, declining advertising revenues, increased consumption of digital news, and declining public trust in the media.
According to reports, the debts of state-owned media institutions in Egypt have risen to billions of pounds, while many private entities are on the verge of collapse due to enormous financial pressures.
These data urge policymakers to take bold and effective steps to ensure the sustainability of journalism in Egypt and revive its vital role in cultural and national discourse. Adapting Egyptian journalism to technological developments is no longer a choice; it is an absolute necessity. Digital transformation, in light of rapid technological changes, has become a pressing matter, given the 30% decline in print newspaper circulation globally over the past decade, favored by digital platforms.
Trends in Egypt reflect a 60% increase in digital news consumption over the past five years. This data requires journalistic organizations to invest in developing interactive and engaging digital platforms that meet the needs of today’s readers, as this is crucial to maintaining relevance and attracting a broader audience. For example, podcasts and digital content are new tools that represent the future of journalism and media, and can provide new opportunities for media organizations to reach wider audiences and offer more diverse content.
Restoring public trust is the most difficult but crucial challenge. Public trust in official media has declined significantly, with only 42% of Egyptians currently expressing trust in these outlets, a sharp decline from 70% a decade ago. This decline is not just a local phenomenon; it is part of a global trend where digital platforms have become popular spaces for disseminating information and news by institutions and ordinary individuals, who have taken on the role of journalists. Adhering to professional standards and accuracy in disseminating news can help reverse this trend.
For example, covering local and global issues of concern to various segments of society, investigative journalism that uncovers opportunities for development within state institutions and their pillars, providing balanced and independent analysis, and adhering to the principles of transparency and accountability regarding information sources and newsgathering methods within journalistic institutions are important and necessary measures to rebuild credibility and expand influence.
Successful experiences in the United Kingdom and the United States demonstrate how adhering to these principles has helped strengthen relationships and build trust with the public. Financial sustainability is a pressing issue. Today, newspapers face a need to diversify their sources of income away from traditional advertising, which has seen a significant decline, with print advertising revenues declining by more than 50% in the past ten years.
Exploring new funding sources, such as online subscriptions and exclusive content, and using live streaming and digital analytics to provide comprehensive and real-time coverage of events, can in turn create new revenue generation opportunities.
Adopting innovative business models will help media organizations mitigate financial risks and build a more resilient economic foundation. An example of this is the success of international media outlets that have adopted subscription models and have been able to open up new revenue streams even as advertising revenues have declined. The New York Times’ digital subscription revenue reached more than $1 billion in 2023.
