Investigating the Survival Strategies of South African Legacy Newspaper in the 4IR
Investigating the Survival Strategies of South African Legacy Newspaper in the 4IR

Summary/Abstract: Newspapers have traditionally relied on advertising as their primary funding source. The rapid decline in advertising sales and corresponding dropping of revenue from readers who once paid for newspapers' news but are increasingly using internet and mobile platforms have severely hurt the newspaper industry, causing it to enter an unheard-of economic crisis and resulted in laying off of thousands of media workers. In order to strive to stay relevant in a fast-evolving media landscape that is increasingly dominated by digital and social media as well as cutting-edge technology globally, this study analyses the business models, strategies, tactics, and techniques they have adopted. A non-probability selection technique was used to select a sample of 23 South African media executives, researchers, and analysts for the qualitative data technique. The results showed patterns and differences in the business structures, methods, and tactics. The research's findings show that the four newspapers must immediately review and adjust their business models and strategies in order to remain financially viable. They must also provide highly qualified, exclusive investigative journalism to counter misinformation and disinformation that, according to analysts, are being spread by certain social media platforms and are contributing to the demise of legacy newspapers. Finally, they must concentrate on identifying and paying attention to niche audience markets, embrace digital transformation while preserving "old" business models that help them fight off the intense competition for readers and advertisers. Lastly, they must look for new and different revenue streams outside of advertising and depend more and more on audience revenues to remain in business.

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