How Nigerian Newspapers make their money

Posted by Chidinma on Wednesday October 22, 2014 at 11:33:41:

Newspaper companies in Nigeria make a lot of money if it is not, they wouldn’t be in business until now; the question now is how do popular newspaper companies in Nigeria like Vanguard, Guardian and the Sun make their money? I will give a short detail of how these newspaper companies make enough money to sustain their company and make profits:

- Sales: this is the number one source of income for newspaper companies; most of these papers release daily or weekly publications. They make money from the sales of the newspapers nationwide; this can be confirmed by the number of newspaper stands and vendor we have in almost ever nook and cranny in the country.

- Advertisement: due to the large number of people that buy and read these newspapers, large companies and organisations pay huge amount of money to place their adverts on their pages of these newspapers. Some newspapers collect as high as N500, 000 for a page of advert placed by an advertiser.

- Sponsors: newspaper companies also make money from royalties given by sponsors who make financial contribution to support the growth of the newspaper company.

- Digital subscription: we are in the digital age now, and newspaper companies are not left out as many of them now have online presence to showcase their information on digital platform; most of them collect payment as monthly subscription fees from online readers, they also make extra money from adverts placed on their websites.