Half of Malaysia’s ads expenditure goes to social media - Fahmi
Bernama
06/09/2024
Communications Minister Fahmi Fadzil delivers his speech during the 25th Anniversary of Asia News Network (ANN) today. Also present Bernama chairman Datuk Seri Wong Chun Wai. - BERNAMA
KUALA LUMPUR: Half or RM25 billion of Malaysia's annual advertising expenditure (adex) of RM4.5 billion is directly channelled to social media platforms, said Communications Minister Fahmi Fadzil today.
This, he said, affected the media organisations.
"As a result, we have seen attrition in the workforce," he told reporters after the Asia News Network's (ANN) 25th anniversary celebration here, today.
Also present were Malaysian National News Agency (Bernama) chairman Datuk Seri Wong Chun Wai who is also the ANN advisor, ANN director and board member Datin Esther Ng and ANN board chairman and director Mahfuz Anam.
Fahmi expressed concern over the attrition in the workforce which resulted in many long-serving and experienced journalists being laid off due to financial changes.
The government, he said, had no plans to intervene at the moment, but encouraged the media organisations to engage in discussions with social media platforms to address the matter.
"At this point, we do not feel the need to follow in the footsteps of other countries.
"We believe that is necessary to strike our own path and perhaps be seen as some kind of equilibrium, a meeting point between business interest (of) media organisations as well as social media platforms. So, we will allow that engagement process to take place," he added.
-- BERNAMA
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