KUALA LUMPUR (BERNAMA) – It is estimated that the Malaysian local media suffered about MYR2 billion losses in annual advertisement earnings from a total of MYR4.5 billion to three social media giants, Meta, Google and TikTok.
Malaysia Communications Minister Fahmi Fadzil said the matter is the biggest and most serious challenge faced by media organisations in the country.
He said the ministry take a serious view of the matter which needed to be studied and given focus as the advertisement revenue is only paid to social media platform providers and not to media organisations.
“I think there should a balance so that there is a bit of return to media companies… it is still being discussed and I believe all parties can be brought to the negotiation table so that a more conducive environment could be established and realised.
“We can apply on how we manage the issue of implementing 5G earlier when I managed to invite all telecommunications companies to discuss and eventually all us agreed so this way of management can be used to solve this issue of advertising expenses,” he said.
Fahmi said this when met by reporters after delivering the keynote address at the Opening Ceremony of ‘Transcending Disinformation: Towards Responsible Media Consumption’ organised by the Asia Pacific Broadcasting Development Institute (AIBD) yesterday.
He also hopes that the social media platform will hold many engagement sessions with media organisations to help them use the social media platform effectively and efficiently.
