‎Pinnacle Daily launches with focus on innovative media revenue models

‎By Chioma Obinagwam

‎Pinnacle Digital Resources Limited unveiled its flagship news platform, Pinnacle Daily, on Tuesday, spotlighting innovative revenue strategies to ensure the sustainability of digital media in a rapidly evolving landscape.

‎At the launch event, Confiance News gathered, media experts emphasized the need for new business models to adapt to changing consumer habits driven by digital advancements. Isiaq Ajibola, co-founder and former managing director of Daily Trust, delivered a keynote address titled The Economics of Media Business: Understanding Revenue Models and Profitability. He noted that traditional revenue streams like print sales and advertisements have been disrupted by the rise of digital platforms.

‎“Prior to the advent of digital media, newspapers had predictable revenue streams—mostly through print copy sales and advertisements—that sustained the newsroom, but that has changed today,” Ajibola said. “It has become necessary for everyone in the media to evolve or risk going to the oblivion. The shift from print to digital has transformed the traditional media business model. Yet, it has also opened new revenue opportunities.”

‎Ajibola outlined several revenue models for digital media, including targeted digital advertising, sponsored content, subscriptions, premium content, brand partnerships, and hosting events and conferences. He urged media organizations to invest in human capital, technology, and effective profitability management to ensure sustainable revenue.

‎Mr. Abimbola Adeseyoju, Chairman of Pinnacle Digital Resources Limited, highlighted the transformative impact of internet and telecommunication technologies in the media industry. “Both the Internet and telecommunication innovations have drastically altered the way we produce and consume news. Many of us in the media industry had been forced to go back to the drawing board to survive economically,” he said.

‎Adeseyoju emphasized a consumer-centric approach, stating, “Technology is just a tool. What we need to keep understanding is the needs, peculiarities, and preferences of the consumers of our various news products and services.” He described Pinnacle Daily as a digital platform designed to deliver high-quality content tailored to the needs of modern audiences, covering topics such as employment, health, education, entertainment, and wealth creation.

‎Reflecting on the platform’s origins, Adeseyoju paid tribute to the late DIG Ibrahim Lamorde, a pioneer director of Pinnacle and former EFCC chairman, who was passionate about transforming Nigeria’s media landscape through technology. “We are here today as a testament of that belief that Pinnacle is going to change the trajectory and direction of digital news channels in Nigeria,” he said, calling for a minute of silence in Lamorde’s honor.

‎The Minister of Information and National Orientation, Mohammed Idris, represented by Dr. Dili Ezughah, commended Pinnacle Daily for its commitment to journalism’s role in nation-building. “The President Bola Tinubu’s administration is ready to work with the press to ensure democracy and aid in building a safe, sound, and prosperous nation,” Idris said, urging media outlets to uphold ethical standards of truth, fairness, and social responsibility.

‎Chief Olusegun Osoba, represented by Chief Eric Teniola, chaired the event and noted the challenges facing journalism, including fake news and misinformation fueled by digital access. “Pinnacle Daily comes at a time when the journalism profession and the media are going through very dramatic changes,” Osoba said. “As professionals, especially for the elders and leaders in the profession, the onus is on us to show the light and lead the way in the preservation of journalism practice and standards, a duty I want to remind us all that we must never shy away from.”

‎The launch featured a panel discussion on sustainable media practices in the digital era, moderated by Adedeji Adekunle of MDIF. Panelists included Azu Ishiekwene (Leadership Media Group), Musikilu Mojeed (Premium Times), Simon Kolawole (The Cable), Zainab Okino, and Angela Agoawike (Omalicha Media Network).

‎Pinnacle Daily aims to redefine digital journalism in Nigeria by focusing on innovative revenue models and consumer-driven content, signaling a bold step forward in the country’s media landscape.

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