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SINGAPORE : The fast-changing media landscape and the more recent economic crisis are two of the most immediate challenges to Singapore's mainstream media companies, said the Acting Minister for Information, Communications and the Arts.
Rear-Admiral Lui Tuck Yew said that as commercially-driven companies, they have to be innovative and exploit new business opportunities to remain viable.
And a key reason why Singapore's mainstream media continues to be commercially viable is that they remain a trusted news source.
He said the mainstream media is accurate, timely and balanced in their reporting.
A survey conducted by US-based public relations firm Edelman revealed that 68 per cent of the respondents in Singapore found newspapers to be the most trusted source of information.
This is significantly higher than the international average of only 34 per cent.
Rear-Admiral Lui said MediaCorp has also been quick to reinvent itself. In October last year, it launched MediaCorp NewsHub, the first of its kind in Asia.
The one-stop centre for news content cuts across the print, radio, television and Internet platforms.
It provides the public with access to the latest news - anytime, anywhere - from radio, TV, print, and online platforms, ranging from bite-sized information and video clips to in-depth stories and analysis.
He said that MediaCorp has also done well as an entertainment content provider by always reviewing and refreshing its programming strategies.
Viewership for its TV channels has remained high, garnering nearly 80 per cent of resident population annually over the past two years.
MediaCorp's radio stations also enjoy strong growth in listenership over the past two years, with more than 3.6 million listeners every day.
Rear-Admiral Lui was replying to a Parliamentary question from MP for Hong Kah GRC, Zaqy Mohamad.
Mr Zaqy asked what the ministry's plans are to ensure the long-term sustainability and credibility of the mainstream media. - CNA/ms
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