A survey in English and Burmese published by Media Development Investment Fund’s Myanmar Media Program confirms that the impact of COVID-19 on Myanmar media has been swift and damaging. The most dramatic impact is on their bottom lines.
MDIF, a not-for-profit investment fund providing financing to independent media in countries where access to free and independent news and information is under threat, conducted the survey in June to answer key questions about the impact of the virus during the period March through May. The report, “Myanmar Media’s Response to COVID-19”, addresses key questions, such as: How was COVID-19 impacting media operations? How were media responding? How did they see their prospects for the coming months?
All but two of the 36 respondents experienced revenue declines between March and May. Half reported a fall in revenue of 75% or more, considerably higher than the 40-60% that MDIF’s partners elsewhere in the world reported during the same period.
Amidst this hardship, there is a glimmer of good news. As has been experienced by media in other countries, Myanmar media have seen a marked growth in their digital audiences, as people turn to trusted news sources during this time of great uncertainty.
Myanmar media have so far managed to survive the economic shock of COVID-19, itself an impressive feat, by taking tough decisions on costs, sometimes having to cut salaries just to stay afloat. With few signs that the economic crisis is easing, there will doubtless be many more hard decisions to make in the weeks and months to come.
A big question is whether media can turn this difficult situation into an opportunity by rethinking their strategies and, in doing so, building more resilient businesses that will survive in the long-term. Their success in doing so will determine whether audiences will continue to have access to the independent news and information they require during this important time in Myanmar’s history.
In order to continue to track the impact of COVID-19 in the months to come, MDIF plans to conduct another survey of Myanmar media towards the end of the year. Both surveys are components of MDIF’s multi-year business capacity building program for independent media in the country, the Myanmar Media Program (MMP).
