Naidu for revenue sharing between social media giants and print media

NEW DELHI: Vice president M Venkaiah Naidu on Friday said the disruption caused by technology has resulted in a serious crisis for the media and appropriate revenue sharing models need to be evolved for the survival of traditional media.

While the traditional print media is “sincerely endeavouring” to adapt to the technological disruption by going online, it is struggling to come out with viable revenue models, he pointed out.

“The information and reports generated by the print media at substantial cost is being hijacked by the social media giants. This is unfair. Some countries are taking measures to ensure revenue sharing by the social media giants with the print media. We too need to take a serious look at this problem and come out with effective guidelines or laws to enable print media get their share from the huge revenues of the technology giants,” Naidu said at the 6th MV Kamat Memorial Endowment Lecture on ‘Journalism: Past, Present and Future’.

According to the text of his speech made available by his office, Naidu said while the democratisation and decentralisation that followed the rapid expansion of social media enabling freedom of expression is welcome, the world is witnessing the downside of it in the absence of self-regulation and protocols.

Journalism by nature, the vice president said, is supposed to be critical of the order of the times based on facts and supported by evidence. But he emphasised that this should not slip into “complete negativity”.

“As a bridge between the people and the governments, media need to focus on the development taking place on various fronts,” he said.

Media should use a standard set of reporting and analytical tools that captures the changing narrative without imposing respective positions, and should not be seen by the public as discrediting the changes taking place, the vice president said.

“I am not suggesting media to be like a chameleon. Media should use a standard set of reporting and analytical tools that captures the change without imposing respective positions. Media should not be seen by the public as discrediting the change that is happening since such a change is contrary to their long held positions,” he noted.

Vice President M Venkaiah Naidu virtually.