PETALING JAYA: The government is looking to expand cooperation with technology platforms, including Google and TikTok, to help Malaysian media organisations develop new revenue streams amid declining advertising income.
Communications Minister Datuk Seri Fahmi Fadzil said the ministry was exploring initiatives such as Project Sigma 2.0 with Google, alongside opportunities involving the Malaysian Media Council, Content Forum and TikTok.
He said the efforts were aimed at helping media companies reduce their dependence on traditional advertising, which had increasingly shifted to social media platforms.
“We also intend to pursue several initiatives, such as Project Sigma 2.0 with Google, and leverage relationships through the Malaysian Media Council and Content Forum with platforms such as TikTok to help our media colleagues find new sources of revenue,” he said at a press conference after officiating the CVSKL Foundation’s Health Screening Programme for Journalists today.
He said the changing advertising landscape had placed considerable pressure on news organisations, contributing to financial and operational challenges across the industry.
In his earlier speech, Fahmi criticised some major technology platforms for failing to cooperate adequately with efforts to support traditional media.
He said certain companies were using their connections with the White House to avoid providing sufficient cooperation, although he did not identify the platforms concerned.
He said the government was pursuing several approaches to help media organisations remain viable, including financial assistance through the Media Innovation Fund.
A further RM30 million has been allocated under the fund’s second phase, with applications opening on Nov 1 and closing on Nov 14.
The initiative covers five areas, including personnel training, software and technology adoption, equipment procurement, content research and development, and subscriptions to news services and media content.
Fahmi said media companies were free to choose technologies and vendors suited to their operations, including artificial intelligence tools.
However, he said that technological transformation should help news organisations become more productive rather than lead to indiscriminate staff retrenchments.
He also encouraged companies facing financial difficulties to approach the ministry for assistance.
The government hopes that technological innovation and closer engagement with digital platforms will help local media organisations develop more sustainable business models.