Kuala Lumpur:The Media Innovation Fund 2.0 is set to play a pivotal role in aiding local media companies to enhance their digital capabilities by upskilling journalists and investing in technology, against the backdrop of declining advertising revenues.
According to BERNAMA News Agency, Sinar Harian Group Editor-in-Chief Zamri Rambli emphasized the importance of the fund, noting that government and ministerial support would enable media organizations to focus on training and acquiring new technological equipment. He highlighted that the organization had already benefitted from the first phase of the fund for skills training and equipment acquisition.
On October 30, Communications Minister Datuk Seri Fahmi Fadzil announced a RM30 million allocation for the Media Innovation Fund 2.0, with applications open until November 14 via the fund's official website. The fund aims to support media companies in areas such as training, technology adoption, and content development.
Media Prima Berhad Group Deputy Managing Editor Datuk Farrah Naz Abd Karim noted the fund's impact on accelerating journalist upskilling and providing essential equipment for digital content production. She also suggested specialized training for senior editorial leaders to drive organizational transformation.
Sin Chew Daily Editor-in-Chief Chan Aun Kuang highlighted the fund's potential to help vernacular media accelerate digital transformation while maintaining cultural identity. He pointed out opportunities in digital platforms, mobile journalism, and AI-assisted content production.
Makkal Osai Managing Director Datuk S. Gopalakrishnan underscored the significance of the fund for traditional newspapers transitioning to digital platforms. He noted the importance of reaching younger audiences and improving reporting quality through training in data journalism and cybersecurity.
The Media Innovation Fund 2.0 covers multiple areas, including media personnel training, technology adoption, and content research. Fahmi stated that funded media companies must avoid arbitrary staff retrenchments, ensuring job security despite financial challenges.