Will social media continue to be a main source of news?

Research shows that social media has become the place where many people keep up with the latest news. The ability of the internet to challenge traditional media may have been underestimated as evidenced by a continuous decline in traditional media profitability. Advertising revenue has significantly shifted away from traditional media, to social media platforms and this is further fuelled by the social media preference of news consumers.

Governments all over the world are trying to come up with solutions to save and restore revenue for traditional media outlets. New legislation to regulate how news is shared and paid for on social media platforms is being considered by some governments. The negative impact of Covid-19 on the economic performance of the traditional media industry is also being considered. This proposes a debate around the future of news on social media platforms.

HarvyT hosts Kevin Ssemwogerere who is a Chartered Accountant and Tech Business Enthusiast on the AreaCode show, to hear his independent opinion on Tech Business Insights. Kevin discusses the indicators around the future of social media as a main source of news.