‘Financial rebirth for broadcast industry’ — FG launches audience measurement system

The federal government has launched an audience measurement system to enhance the operations of the broadcast industry.

The system is projected to employ 500 people directly and 2,500 people indirectly.

Speaking at the unveiling in Abuja on Thursday, Mohammed Idris, minister of information and national orientation, said the system aligns with President Bola Tinubu’s vision for a technologically advanced Nigeria.

“Station owners, content producers, artistes, essentially the entire supply ecosystem, were not benefiting in many ways; more importantly, they are neither motivated or challenged to produce more and better content that caters to the ‘demand’, as the measure of who likes it, what they like, how much they like, etc,” he said.

“This has clearly stunted the growth of the entire entertainment and media ecosystem in Nigeria.

“It is disheartening to note that in spite of having more than three times the eyeballs in South Africa, Nigeria’s television advertising market revenue is low compared to that of South Africa, and Kenya; as we’re third on the continent.

“It is therefore incumbent on us to reverse the trend and adopt the system that will ensure that the advertising spend in Nigeria grows exponentially in the next couple of years.

“With this scientific-based system, advertisers can have greater confidence in the accuracy of viewership numbers, leading to more strategic and impactful advertising campaigns in Nigeria. Broadcasters will also benefit from clear insights into audience preferences, which will help in enhancing the quality and relevance of their programming.

“This will ultimately lead to a more engaged and satisfied audience. I am also informed that in its full operation, the audience measurement system is projected to directly employ up to 500 Nigerians and 2,500 people indirectly.

“This project will jumpstart the repositioning and financial re-birth of Nigeria’s broadcasting industry and better prepare it for the digital era as the federal government is still on track towards the implementation of the digital switch over.”

The minister said the media should take advantage of financial facilities which would be given at a single-digit interest rate.