KUALA LUMPUR, Sept 6 — Half or RM2.5 billion of Malaysia's annual advertising expenditure (adex) of RM4.5 billion is directly channelled to social media platforms, said Communications Minister Fahmi Fadzil.
This in turn has affected the media organisations.
“As a result, we have seen attrition in the workforce,” he told the press after the Asia News Network’s (ANN) 25th anniversary celebration today.
Also present were Malaysian National News Agency chairman cum ANN advisor Datuk Seri Wong Chun Wai, ANN director and board member Datin Esther Ng and ANN board chairman, and ANN director Mahfuz Anam.
Fahmi expressed concern over the attrition in the workforce which resulted in many long-serving and experienced journalists being laid off due to financial changes.
The government has no plans to intervene at the moment but encouraged the media organisations to engage in discussions with social media platforms to address the matter.
“At this point, we do not feel the need to follow in the footsteps of other countries.
“We believe that is necessary to strike our own path and perhaps be seen as some kind of equilibrium, a meeting point between business interest (of) media organisations as well as social media platforms.
"So, we will allow that engagement process to take place,” he said.
— Bernama
