Chairman, Taskforce on Internally Generated Revenue, Edo State Internal Revenue Service (EIRS) Hon. John Osagie Inegbedion on Tuesday, November 28, 2023, interacted with management staff of ITV/Radio at the Camp Link Resort, Ogheghe, serenading them with vital points and growth analysis pointed towards boosting the revenue base of the media organizations.
The think tank of the media establishment had conglomerated at the resort for the retreat to chart endearing means with which to take their organization to an enviable height in the upcoming year had their appetite whetted by the robust interface with the EIRS chief who shared his experiences on the job with the application of requisite data and skills which he opined could boost visibility if applied alongside a remarkable content creation.
The resource person, represented by the Head, of Corporate Communications, EIRS, Mr. Courage Eboigbe, took participants on a revenue enlightenment journey with the topic,
“Marketing and Revenue Generation: A Digital Approach.”
Informing participants on the need to embrace emerging technologies, he observed that the contemporary media business world is plagued by rapid technological advancements hence media outfits must stay updated and adapt to changing consumer behavior and use of artificial intelligence, virtual reality and augmented reality which offer new ways of audience engagement and immersive experiences.
By embracing these technologies, media outfits can differentiate themselves from competitors and generate revenue through innovative and engaging content offerings.
The resource person elaborated on the need to create innovative and engaging content to beat stiff competition by harnessing social media tools and platforms; coming up with programs and content that give cutting edge over others, having an overwhelming audience reach and engagement by use of technology and upgrading of the stations mobile app to allow for live transmission and broadcast, and viewing of news and programs via phone, YouTube and other handles strengthened by improved content development and production.
To emphasize the importance of job security he encouraged putting in place a reward system for staff despite harping on the need to network with those who share the same values.
Managing Director (MD) ITV/Radio, Engr. Elvis Obaseki told the Nigerian Observer newspaper that the retreat was an opportunity to refresh, reinvigorate, and focus on tackling the challenges of the coming year.
The focus of the retreat he said was powered by the need to pick and focus on areas and issues people assume to be of no importance as “it is only with the right tools a broadcaster can break through, through use of the right methodology.
“We looked at the profile of some of the ancillary issues around broadcasting such as revenue generation and the revenue service to have insight into how they grew their revenue base. The IGR performance scaled from a monthly average collection of N2.1b in 2020, N2.7b in 2021 to N3.7 in 2022 and N4.3b in 2023 translating into an annual collection of N45b in 2022 and over N50b by end of year 2023 thereby contributing to the development and sustainability of crucial public services and infrastructure” this he stated, led to the invite of the revenue chief to enable the media outlet to grasp an idea of how to monetize its products.