Audience moving faster than media industry: World Economic Forum Managing Director

The media industry is struggling with being where the audience is, and therefore younger people are needed to be integrated into senior leadership roles, according to Adrian Monck, Managing Director with the World Economic Forum (WEF).

Speaking to the Emirates News Agency (WAM) at the Global Media Congress on its second day, Monck, who is also the head of the Public and Social Engagement at WEF in Switzerland, said, “The industry is struggling with being where the audience is. Partly, it’s an age structure issue. Younger audiences move faster than older ones and news executives. I think to some extent we need to integrate more into senior leadership roles younger people who can bring some of that user experience of what they want and what they need to be introduced into those media organisations.”

Monck, who participated today at a panel discussion titled, “Social Media: Discussing how the rise of the short-form video has changed the media industry”, believes that the media industry suffers talent shortage and that governments need to sort out this problem by encouraging young generations to come aboard the industry to help close the generational gap. “So many industries now rely on technologists. The war for technology talent is very real and you see it in the price people have to pay to recruit top technologists. There’s a real shortage of those people, not just in media but in every single industry from finance to engineering, etc. All these industries rely on technologists. We definitely need people with skills. However, I’m not naive enough to think that we will get that supply of talented people who can do those jobs just by clicking our fingers.”

He hailed the organsiation of events like the Global Media Congress for bringing about such key issues and providing in-depth reviews thereof. “This forum works on a lot of issues related to jobs and skills of the future and governments with planning can help address some of those issues. Events like this can help. I think it’s important to bring the industry together to talk about the challenges the industry faces. It’s important especially for this region, which is so fast growing, which is so young, and which is really an exciting region with a lot of possibilities.”

On the issue of private investments and how far it negatively or positively impacts impartiality in news covering, Monck said, “I think if you have the right accountability and the right governance in place, then private investment in media isn’t an issue. So, the issue is governance and accountability. If you have good governance and good accountability mechanism in place, you’ll benefit from private investments.”

Source: Emirates News Agency