Social media gets billions in ad revenue while media suffer - Fahmi

While Malaysia generates about RM4.5 billion in annual advertising expenditure, half of it is directly channelled to social media platforms which is affecting media organisations, said Communications Minister Fahmi Fadzil today.

“As a result, we have seen attrition in the (media) workforce,” he told reporters after the Asia News Network’s (ANN) 25th anniversary celebration today.

Also present were Bernama chairperson Wong Chun Wai who is also the ANN adviser, ANN director and board member Esther Ng, and ANN board chairperson and director Mahfuz Anam.

Fahmi expressed concern over the attrition in the workforce, resulting in many long-serving and experienced journalists being laid off due to financial challenges.

However, the Lembah Pantai MP said the government has no plans to intervene at the moment but encouraged media outlets to engage in discussions with social media platforms to address the matter.

“At this point, we do not feel the need to follow in the footsteps of other countries.

“We believe that is necessary to strike our own path and, perhaps, be seen as some kind of equilibrium, a meeting point between business interest (of) media organisations as well as social media platforms.

“So, we will allow that engagement process to take place,” Fahmi added.

- Bernama

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