Business at 6.30am: Good move but watch for knock-on effects

NZME’s latest video venture, Herald NOW Business, had a solid launch yesterday into an uncertain world strategic environment. It also raises some strategic questions for the media company itself.

The 6.30 am business programme, available on the Herald app and streamed through ThreeNow and YouTube, is anchored by the thoroughly professional Garth Bray. He was an obvious choice and represents some of the greatest depth of television talent within NZME.

A former London correspondent for TVNZ and then a stalwart of the (sadly, axed) consumer show Fair Go, Bray is already a regular on the new programme’s companion show Ryan Bridge Today. His professional ‘home’ is the NZME-owned BusinessDesk.

Herald NOW Business (let’s abbreviate that to HNB) could not be described as innovative. It follows the familiar look and content of morning business programmes elsewhere. That, however, is not a criticism: Why change an established formula just for the sake of looking different? Continue reading “Business at 6.30am: Good move but watch for knock-on effects” →

A grunt is worth a thousand words

Like a picture, a grunt can be worth a thousand words. The Minister for Media and Communications needed to do no more than make an annoyed sound to convince the chairman of Television New Zealand that the government was, well, annoyed.

Paul Goldsmith would surely have known that he needed to do no more than grunt when TVNZ board chair Andrew Barclay inexplicably raised a contentious One News item in a call he initiated with the minister. A low, short guttural sound said it all.

When interviewed about the call, Goldsmith pressed ‘play’ and stated: “He brought up the story in question, I did not make any comment, as it would be inappropriate for us to discuss editorial matters.”

It would not only be inappropriate, but it would also be unlawful. Section 28 of the Television New Zealand Act states that no shareholding minister (in this case Goldsmith) may give a direction in respect of the gathering or presentation of news or the preparation or presentation of any current affairs programme or content.

A grunt is not a direction. But it speaks volumes.

By now you’ll know what prompted it. A story, stating gang members now slightly outnumbered police, ran before a piece that might be seen as proof that the government’s ‘tough on crime’ policy was working. The later story said there were fewer victims of violent crime and serious repeat youth offending had fallen.

Police Minister Mark Mitchell did not like that – ‘annoyed’ is probably not strong enough – and took to Facebook to say so. A contrite TVNZ news executive rang Mitchell after seeing the post and a second, more positive story followed.

The post was not a direction. But it spoke volumes. Continue reading “A grunt is worth a thousand words” →

NZ news media need higher productivity – from the rest of us

Even at his most philosophical, columnist Matthew Hooton is a realist. That made his economic alignment of New Zealand with the likes of Kazakhstan just a little scary.

He is entitled to be philosophical (he has a doctorate in the discipline) but last week’s column in the New Zealand Herald was brutally material: If we continue our steady-as-she-goes, borrow-and-hope, growth-will-come economic prescription of the past 17 years our economic peers will be Bulgaria, Russia and Kazakhstan.

I liked his colourful analogy suggesting that we have been kidding ourselves: “There never was a rock-star economy, except in the sense of a once-successful arthritic band loading themselves up on cocaine and methamphetamine to get through the nostalgia tour.”

His bottom line was that our level of productivity sucks. Per-capita GDP growth has stagnated at less than 0.5 per cent since 2008.

Hooton’s focus was on the economy as a whole but his sobering commentary made me think about the long-term effect of gross domestic product growth on media sustainability.

His timing was a little unfortunate. It took the shine off some positive news from two of our media companies in the same week. Continue reading “NZ news media need higher productivity – from the rest of us” →

My feeling of dread can reach biblical proportions

Three short words fill me with a sense of dread when they are linked to the media industry – private…equity…company. Collectively they represent a form of enterprise that never peers over the top of a sterile balance sheet.

Their sole purpose is to provide the best possible return for their investors. There is nothing inherently wrong it that goal, but the single-minded pursuit of profit makes them manifestly unsuited for ownership of companies providing social, cultural and democratic services to the public.

Media companies that produce or carry news and information services have impacts on society that were once recognised as imposing inherent obligations on the organisation.

In the past, owners accepted forms of cross-subsidisation without question. They funded journalism that was important, but which may not have attracted audiences as readily as the salacious or merely entertaining. They sent journalists far afield following politicians, when reporting a rugby tour was arguably more popular. They did so because one of those inherent obligations was holding power to account.

Some owners continue to shoulder those obligations and long may they continue to do so. However, for every organisation that continues to meet social and civic needs, there is another that has been decimated in the name of ‘return on investment’.

The latest manifestation of private equity bitemporal hemianopsia (I chose this form of tunnel vision because it doesn’t just affect the periphery but half of what we see) is what has happened to MediaWorks at the hands of Sydney-based private equity firm Quadrant and the New Zealand media company’s previous owners. Continue reading “My feeling of dread can reach biblical proportions” →