The walls appear to be closing in on the media industry, with talent, resources and morale obliterated. Audience attention is shifting to digital platforms, advertising is drying up and, with financial interests and the machinations of political players, trust in the media has been obliterated.
It reflects on the industry’s bleak financial state, while revealing promising signs that journalism is resilient and more important to democracy than ever – it’s innovating, adapting to its environment and still telling stories. Balliah said journalism is not in decline, as many suggest: “It is in unprecedented demand – but how to fund it remains the burning question. The trust deficit in the relationship between journalists and audiences remains a significant threat to the viability of media businesses, and to the relevance of the media in society. Without this trust, the relationship does not exist.”
“By the end of the year [2020], at least 10 local papers had been terminated in one way or another – a blow to community news and accountability in towns and smaller cities, arguably where they are needed the most.”