Govt seeks Google, TikTok partnerships to boost media revenue
PETALING JAYA: The government is looking to expand cooperation with technology platforms, including Google and TikTok, to help Malaysian media organisations develop new revenue streams amid declining advertising income.
Pahang: The Malaysian government is seeking partnerships with major technology companies like Google and TikTok to assist struggling media organisations in developing new revenue streams, as advertising income continues to decline. Communications Minister Datuk Seri Fahmi Fadzil announced the government's exploration of initiatives such as Project Sigma 2.0 with Google and partnerships through the Malaysian Media Council and TikTok.
These efforts aim to reduce media companies' reliance on traditional advertising, which has increasingly shifted to social media platforms. Fahmi emphasized that the changing advertising landscape has placed significant pressure on news organisations, leading to financial and operational challenges across the industry. The government intends to provide various forms of support, including financial assistance through the Media Innovation Fund, which has allocated an additional RM30 million for the second phase of funding.
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