Media Innovation Fund 2.0 to boost digital transformation of local media
KUALA LUMPUR: The Media Innovation Fund 2.0 is seen as a crucial catalyst in helping local media companies upskill journalists and invest in technology to produce high-quality digital content amid a significant decline in advertising revenue.
The Media Innovation Fund 2.0, announced on October 30 by Communications Minister Datuk Seri Fahmi Fadzil, aims to aid local media companies in their digital transformation amid a sharp decrease in advertising revenue. The fund allocates RM30 million for applications submitted until November 14 via the fund's website. Sinar Harian Group Editor-in-Chief Zamri Rambli expressed gratitude for the government's support, stating that the RM30 million grant would enable his organization to concentrate on training and acquiring advanced technology.
The shift towards video-first content requires journalists and editors to enhance their skills and use appropriate equipment. Media Prima Bhd Group Deputy Managing Editor (News and Current Affairs) Datuk Farrah Naz Abd Karim highlighted that the fund had accelerated efforts to upskill journalists and provide necessary equipment for digital content production.
Sin Chew Daily Editor-in-Chief Chan Aun Kuang emphasized that the fund would help vernacular media accelerate digital transformation and reach new audiences while maintaining their unique linguistic and cultural identity. Makkal Osai Managing Director Datuk S. Gopalakrishnan stressed that the funding would be critical in converting print readers to digital users while preserving the newspaper's cultural relevance within the Malaysian Indian community.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
