Social Media and Online Newspaper Advertising Revenue

The researchers examined the financial health of newspapers by the revenue they get online. Using quantitative content analysis, the researchers studied the volume and margin of advertising patronage and income eight Nigerian national newspapers get on their websites and juxtaposed this against revenue generated from social media platforms. We coded and analysed 3,861 advertisements between 17th December 2023 and 29th January 2024, which produced an industry gross revenue of ₦462,829,542 (US$325,831). Data showed that though Nigerian newspapers maintain a huge social media following, a mere 1.1% (₦4.8m—US$3,889) income was generated from the platforms in the period under review. Moreover, strictly online and online versions of print-copy titles are head-to-head in terms of ad revenue generation. It was recommended that newspapers convert numbers (following) on social media to income by focusing on sponsored content, which is an advertising goldmine on the platforms; as marketing strategies to attract this should be intensified.