The Economist and Editorial Independence

The Economist stands for five values — be forward looking, be a trusted curator of events around the world, do not be a disinterested observer  ( actively advocate change ), be global and practice world-class journalism. Its mission is free trade and internationalization.

According to Chris Stibbs of the Economist, ownership of the media does not matter on a day to day basis. Indirectly, ownership is very critical. The Economist has independent voice which is critical to the five values it espouses. Its organization  is geared to uphold these values. Media should be commercially successful — that gives it commercial independence.  Commercial independence is important for editorial independence. And in its turn, editorial independence breeds commercial success. If there is no commercial success, then ownership independence is at risk and so is the editorial independence.

In the current media environment, if you want to be heard, you must have a uniqueness of voice. A good media brand can make money, but it takes time. Just quality is not enough; there has to be a uniqueness of voice.

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