Colombia’s independent media still struggle to find a profitable path, according to our latest study about the country’s journalism.
The Colombian media landscape has undergone a significant transformation in recent years, as highlighted in a report on journalism funding released today by the Media and Journalism Research Center in collaboration with OBSERVACOM. The study reveals that the country now boasts a much more expansive and diverse media landscape compared to previous years.
Notably, the changing audience preferences have also had a profound economic impact on numerous media outlets. Traditional media sources have witnessed a decline in their revenues, necessitating a swift adaptation to the evolving times in order to mitigate this decline. Meanwhile, newly established media organizations and platforms have had to employ innovative strategies to secure financial backing.
The report’s authors, led by esteemed researcher Gabriel Levy Bravo, have identified the most proactive players in designing new business models as the emerging media outlets and platforms, particularly those operating independently. These entities have successfully diversified their funding sources, which encompass contributions from non-governmental entities, grants, crowdfunding, service provision, memberships, donations, and, naturally, advertising.
However, the report underscores that these media pioneers are currently undergoing a trial and error phase, as there is still no universally proven formula for success.
Nevertheless, amidst this dynamic landscape, one aspect has remained unchanged: media concentration. Despite the availability of alternatives to the offerings of large economic conglomerates in Colombia, influential entities such as Santo Domingo, the Carlos Ardila Lülle organization, and the Luis Carlos Sarmiento Angulo group continue to possess a significant number of media outlets, thereby exerting a substantial influence over the news content production in the country.
The report can be accessed here.
Photo Julianprescott2604juuly, CC BY-SA 4.0, via Wikimedia Commons
