Media Innovation Fund 2.0 to boost industry competitiveness, protect jobs

The Media Innovation Fund 2.0 aims to bolster the competitiveness and technological capabilities of local media companies while ensuring industry sustainability, according to the Malaysian Media Council (MMC) chairman Tan Sri Nallini Pathmanathan. The fund comes at a crucial time as media organisations struggle to keep pace with technological advancements, AI adoption, intense competition from digital platforms, and changing news consumption habits.

MMC chairman emphasized that recipient companies must not terminate employees arbitrarily, highlighting the importance of nurturing and protecting the talent and workforce that form the backbone of the industry. Media Chinese International Limited (MCIL) editor-in-chief Datuk Kuik Cheng Kang echoed these sentiments, stating that the fund reflects the government's commitment to helping media organisations transition to a new direction while protecting workers' welfare.

He suggested that substantial expenditure is required to maintain fully equipped newsrooms, professional editorial teams, and nationwide coverage networks, as digital revenue has yet to generate sufficient returns to cover operating costs. MCIL editor-in-chief emphasized that media organisations must face the reality of large-scale workforce reductions if they are to remain viable in the face of industry transformation.

Times may change the way media organisations conduct business and technology may transform news channels, but society's need for truthful information, professional judgement, and the media's role in providing checks and balances must never be eroded, Kuik added.

Brief written by urgent.news from New Straits Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.