Panelists at the ongoing 11th Global Investigative Journalism Conference (GOJC19), have advised media organizations fighting corruption and crime in the society to adopt new survival models so as not to go aground.
They said on Friday in Hamburg, Germany, that media organizations risked permanent closure, deformity or instability if they failed to evolve new models for sustainability.
Ms Nadine Jurrat from the DW German Academia, suggested stringent mechanisms, including careful planning and implementation of innovations.
She advised against over-dependence on governments and donor agencies.
She added that governments and media organizations must provide an enabling environment for operations.
Ms. Andrea Dip of Brazil Publica noted that journalism was important to the society if it made its operations relevant to the people.
She said that the organization was trying to retain its workers, most especially crack reporters and editors, through good welfare policies.
On his part, Mr. Muskiliu Mojeed, Edit0r-in-Chief, the Premium Times, recalled that they started in 2011 as a profit-making media organization.
However, Mojeed said, the paper collapsed because of its critical position and non-patronage by government.
He explained that after critical review, they invested massively in content generation and credibility to gain widespread acceptance.
The media chief also disclosed that the organization adopted multiple revenue sources, including traditional and innovative advertising book publishing, events, training, data and analysis service, donations, membership and partnerships as key to sustainable survival.
The panelists, however, cautioned against booby traps and advised media chiefs to be wary of banana peels, including crowdfunding, suspicious donations, and advertisements.
Some members of the audience also recommended that media organizations should invest in properties and stock as additional sources of revenue.
The session was anchored by Mr. Syed Nazakat from India.
The News Agency of Nigeria (NAN), reports that no fewer than 1,800 delegates from across the world are participating in the 4-day conference.
The organizers say it is designed to empower more journalists to promote good governance in their respective climes. (NAN)