X drops out of global media brands ranking

The report also found that X’s Brand Strength Index score fell by 12.7 points from last year underscoring a major reputational crisis. (AFP)
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Updated 18 September 2024
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X drops out of global media brands ranking

  • Twitter’s brand value dropped from $5.7bn in 2022 to $673.3m in 2024   
  • Instagram is the fastest-growing media brand

DUBAI: Social media platform X, formerly Twitter, has dropped out of a ranking of global media brands by UK-based brand valuation and strategy consultancy Brand Finance. 

The consultancy valued Twitter at $5.7 billion in 2022, falling to almost $3.9 billion in 2023 and further declining to $673.3 million in 2024.

Richard Haigh, managing director of Brand Finance, said the rebrand from Twitter to X was a “gamble” that had the potential to provide a “rebirth and propel it (the company) to new heights,” but now “the strategy seems to have been misguided.”

He told Arab News: “It is now evident that Elon Musk’s rebranding of Twitter, and abandonment of a globally recognized name, has resulted in a dramatic and abrupt decline in brand value and strength.”

Moreover, he added, Musk’s strategy to open up a free speech mandate lacked guardrails that would give advertisers confidence that their content would not appear alongside other content that did not match their brand values. 

Haigh said: “These two decisions, intended to accelerate growth, ultimately resulted in a substantial loss of advertisers with ad revenue decreasing from over $1 billion per quarter in 2022 to around $600 million per quarter in 2023 — a steep decline for a brand where ad sales represent about three-quarters of total revenue.”

The report also found that X’s Brand Strength Index score, which measures the relative strength of brands based on factors such as marketing investment, stakeholder equity, and business performance, fell by 12.7 points from last year.

This drop is a reflection of the brand’s “weaker performance in familiarity, reputation, and recommendation metrics, underscoring a major reputational crisis,” Haigh said.

Although he is not optimistic about X’s rebound as a brand, he added: “X continues to be a relevant platform relied upon by millions, thanks to the long-term benefits of a user base and the critical mass it already has.”

He believes that “with careful management and a clear strategy, there remains potential for the X brand to recover and regain its strength.”

One such strategy could be rethinking the name because Twitter had a “distinctiveness that a single letter will struggle to match,” he said.

Secondly, he advised: “X is a business that requires consumers to use it, but also requires businesses to fund it. Trust is a key issue that needs to be addressed.”

Haigh explained that if brands are not confident that bullying, harassment and abuse will not be attached to their messaging, they will not have enough trust in the site to want to advertise. 

The ranking saw Google maintain its No. 1 spot as the most valuable media brand for the fourth consecutive year, followed by TikTok in second place, Facebook and Instagram in third and fourth, and Disney in fifth place.

Instagram was the fastest-growing media brand, with an increase of nearly 50 percent in brand value, while Disney’s brand value dropped by 6 percent, compared to 2023.

Hollywood actors and screenwriters went on strike last year to protest about pay and working conditions which resulted in delays of several productions and loss of revenues for production companies.

Haigh said the strike “significantly impacted Disney’s revenue streams, contributing to its decline in brand value, but Disney+ (its streaming platform) has helped sustain its brand amid a rapidly evolving media landscape.”

The transformation of this landscape is evident in the ranking with Disney being the only traditional media company in the top 10.

The first Brand Finance ranking, which was published in 2015, was dominated by American broadcast media networks with Walt Disney ranking first, ahead of Fox, NBC, TimeWarner and CBS.

However, this year, “there has been a significant shift, with nine of the top 10 brands focusing on platforms other than traditional broadcasting, reflecting a growing trend toward media consumption through social media,” Haigh said.

He added that the media industry had evolved “from a broadcasting model to one centered around narrowcasting, where content is tailored to individual preferences.”

This has been accelerated by the rise of social media platforms that allow users to create and share content on a global scale, as well as technological advancements that enable platforms to provide “highly personalized and targeted media experiences,” he added.

Content that was once the domain of traditional TV channels — such as major sporting events and news — is now easily available online through social media or streaming.

Haigh said: “Despite widespread misinformation, more people are turning to social media for news as it provides diverse perspectives, short-form content, and allows for independent evaluation, unlike traditional media, which often offers a single, agenda-driven narrative.”

The 2023 Hollywood strike further accelerated the shift in the industry, causing a sharp decline in brand values for major US TV networks like CBS (28 percent) and Fox (26 percent), as well as UK networks Sky and ITV, he added.

Netflix, however, remained among the top 10 brands, ranking ninth, despite its brand value declining by 6 percent.

Haigh said: “To stay relevant, traditional media outlets must adapt to this new landscape, where engagement is driven by interactive and algorithm-driven content rather than broad, one-size-fits-all programming.”


Afghan Taliban vow to implement media ban on images of living things

Updated 5 min 5 sec ago
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Afghan Taliban vow to implement media ban on images of living things

KABUL: Afghanistan’s Taliban morality ministry pledged Monday to implement a law banning news media from publishing images of all living things, with journalists told the rule will be gradually enforced.
It comes after the Taliban government recently announced legislation formalising their strict interpretations of Islamic law that have been imposed since they swept to power in 2021.
“The law applies to all Afghanistan... and it will be implemented gradually,” the spokesman for the Ministry for the Propagation of Virtue and the Prevention of Vice (PVPV) Saiful Islam Khyber told AFP, adding that officials would work to persuade people that images of living things are against Islamic law.
“Coercion has no place in the implementation of the law,” he said.
“It’s only advice, and convincing people these things are really contrary to sharia (law) and must be avoided.”
The new law detailed several rules for news media, including banning the publication of images of all living things and ordering outlets not to mock or humiliate Islam, or contradict Islamic law.
Aspects of the new law have not yet been strictly enforced.
Taliban officials continue to regularly post photos of people on social media.
“Until now, regarding the articles of the law related to media, there are ongoing efforts in many provinces to implement it but that has not started in all provinces,” Khyber said.
He added “work has started” in the southern Taliban stronghold of Kandahar and the neighboring Helmand province, as well as northern Takhar.

Journalists in Kandahar told AFP on Monday they had not received any statement from the ministry or been stopped by morality police for taking photos and videos.
In central Ghazni province on Sunday, PVPV officials summoned local journalists and told them the morality police would start gradually implementing the law.
They advised visual journalists to take photos from further away and film fewer events “to get in the habit,” a journalist who did not want to give his name for fear of reprisal told AFP.
Reporters in Maidan Wardak province were also told the rules would be implemented gradually in a similar meeting.
Television and pictures of living things were banned across the country under the previous Taliban rule from 1996 to 2001, but a similar edict has so far not been broadly imposed since their return to power.
When the Taliban authorities seized control of the country after a two-decade-long insurgency against foreign-backed governments, Afghanistan had 8,400 media employees.
Only 5,100 remain in the profession, including 560 women, according to media industry sources.
Afghanistan has also slipped from 122nd place to 178th out of 180 countries in a press freedom ranking compiled by Reporters Without Borders (RSF).


Lebanese demand justice for journalist killed by Israeli tank fire

Updated 14 October 2024
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Lebanese demand justice for journalist killed by Israeli tank fire

  • CPJ chief executive Jodie Ginsberg said that “in spite of extensive evidence of a war crime, a year on from the attack, Israel has faced zero accountability for the targeting of journalists”

BEIRUT, Lebanon: Lebanese journalists and activists Sunday demanded justice for Reuters journalist Issam Abdallah, who was killed a year earlier in what probes said was Israeli tank fire while covering cross-border clashes in south Lebanon.
Two strikes in quick succession on October 13, 2023 killed Reuters journalist Issam Abdallah, 37, and wounded six other journalists including AFP photographer Christina Assi and video journalist Dylan Collins.
Assi later had a leg amputated and spent five months in intensive care in hospital as a result of the attack.
Two investigations have pointed to an Israeli tank being behind the attack, but Israel has denied it targets “civilians, including journalists.”
Friends and acquaintances on Sunday shared photos Abdallah had taken, or pictures of him.
Legal Agenda, a non-governmental organization, posted on social media: “A year after the killing of photographer Issam Abdullah, Israeli impunity continues.”
Lebanese rights group Maharat called on the international community to “implement treaties, resolutions and commitments to protect journalist.”
In a post on X, journalist Salman Andary demanded “justice for Issam and for all the victims of this crime.”
Economist Jad Chaaban wrote on X: “Israel killed... Abdallah, by shelling a clearly marked press spot in the South of Lebanon.”
“The Israeli army is still carrying out mass executions until today with total impunity,” he said.
After nearly a year of cross-border fire, Israel on September 23 escalated its campaign targeting Hezbollah in Lebanon.
More than 1,200 people have since been killed in Lebanon, according to a tally of official figures, and more than a million have been displaced.
On Thursday, the Committee to Protect Journalists decried a lack of accountability for Israel over the killing of Abdallah.
CPJ chief executive Jodie Ginsberg said that “in spite of extensive evidence of a war crime, a year on from the attack, Israel has faced zero accountability for the targeting of journalists.”
The journalists were working near the border village of Alma Al-Shaab in an area that has been the site of near-daily clashes between the Israeli army and Hezbollah.
An AFP investigation in December pointed to a tank shell only used by the Israeli army being fired in the attack.
A separate Reuters probe, including initial findings from the Netherlands Organization for Applied Scientific Research (TNO), found two Israeli tank rounds fired from the same position across the border were used.
TNO’s final report said an Israeli tank crew then “likely” opened fire on them with a machine gun.
An Israeli military spokesman said after the strike: “We are very sorry for the journalist’s death,” adding that Israel was “looking into” the incident, without taking responsibility.
 

 


Qatar and Saudi Arabia strengthen media cooperation with new framework agreement

Updated 14 October 2024
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Qatar and Saudi Arabia strengthen media cooperation with new framework agreement

  • Safeguarding supply chains ‘more crucial than ever,’ Saleh Al-Jasser says in opening remarks
  • Inaugural forum will feature 130 speakers and 80 exhibitors from 30 countries

DOHA: Saudi Arabia and Qatar signed on Sunday a framework agreement for cooperation and news exchange between the Saudi Press Agency (SPA) and Qatar News Agency (QNA).

The agreement was signed on the sidelines of a meeting between Qatar’s Prime Minister and Minister of Foreign Affairs and Saudi Arabia's Minister of Media in Doha.

The meeting between Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani and Salman Al-Dossary, which was also attended by Chairman of Qatar Media Corporation Sheikh Hamad bin Thamer Al-Thani and Saudi ambassador to Qatar Prince Mansour bin Khalid bin Farhan, focused on enhancing cooperation between the two nations, particularly in the media sector.

During their discussions, both sides emphasized the importance of deepening relations and expanding joint media initiatives.

The agreement was signed by Acting President of SPA, Ali Alzaid, and Director-General of QNA, Ahmed bin Saeed Al Rumaihi.

Saudi Arabia and Qatar signed on Sunday a framework agreement for cooperation and news exchange between the Saudi Press Agency (SPA) and Qatar News Agency (QNA). (SPA)

It will aim to foster collaboration through a range of initiatives, including training programs in editing and photography, the promotion of modern technologies and artificial intelligence in news production, and the exchange of expertise, SPA reported.

The framework also seeks to strengthen ties by facilitating visits between the agencies and creating news and photographic content that highlights achievements, events, and national occasions in both countries, SPA added.


Venezuela cancels passports of dozens of activists and journalists, FT reports

Updated 13 October 2024
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Venezuela cancels passports of dozens of activists and journalists, FT reports

  • People have had their passports confiscated by authorities while attempting to board flights from the country’s main airport, the newspaper reported, citing the rights group

CARACAS: Venezuela has canceled the passports of dozens of journalists and activists since President Nicolas Maduro claimed a re-election victory, part of what rights groups say is an intensifying campaign of repression against the authoritarian president’s opponents, the Financial Times reported on Saturday.
At least 40 people, mostly journalists and human rights activists have had their passports annulled without explanation, the newspaper reported, citing Caracas-based rights group Laboratorio de Paz.
The group warned that the number of people who have had their passports canceled is likely to be much higher due to Venezuelans’ fear of reporting cases, the FT said.
Laboratorio de Paz could not be immediately reached for the report.
People have had their passports confiscated by authorities while attempting to board flights from the country’s main airport, the newspaper reported, citing the rights group.
Unlike murder or torture, which have a higher political cost, the government has found that passport cancelation is an effective way of neutralizing and muffling critical voices with minimal effort, the newspaper reported citing Rafael Uzcátegui, co-director of the rights group.
The report comes after Maduro was proclaimed the winner of the South American nation’s disputed July vote by electoral and judicial authorities, a claim rejected as false by the opposition. 

 


Leading Lebanese daily goes pan-Arab amid ongoing war

Updated 12 October 2024
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Leading Lebanese daily goes pan-Arab amid ongoing war

  • Group CEO Nayla Tueni leads digital transformation from newspaper to ‘viewspaper’
  • We’ve transitioned from being a traditional newspaper to what we call a ‘viewspaper.’ From Monday to Thursday, we publish a compact edition, while Friday features a more in-depth weekend edition, covering culture, lifestyle, and other topics

LONDON: Amid escalating conflict in Lebanon, Annahar chief Nayla Tueni has announced the relaunch of her media group, unveiling a bold shift to become a pan-Arab media leader with a growing presence across the region.

The publisher of the iconic Arabic-language daily Annahar, which marked its 92nd anniversary this year, is embracing a “digital-first” strategy, transforming from a newspaper to a “viewspaper.”

Nayla Tueni, Annahar chief. (Supplied)

Despite the ongoing Israel-Hezbollah conflict, which began as cross-border clashes on Oct. 8, 2023, and intensified into a widespread Israeli offensive starting Sept. 23, the Beirut-headquartered Annahar remains committed to its plan to relaunch its services against all odds.

Tueni, Annahar’s editor-in-chief and group CEO, told Arab News that the idea for the transformation and relaunch was conceived in January, with implementation efforts beginning in April.

FASTFACTS

• In addition to its daily print newspaper, Annahar Media runs two websites – Annahar and Annahar Al-Arabi – while also managing a video platform and active social media channels.

• Annahar’s teams are diligently working to produce more podcasts, audios, and videos that resonate with a broader audience – talking to people from different places around the Arab world.

“The goal of Annahar’s refoundation is to reach a wider audience,” she said. “We’ve enhanced the website to offer a seamless, unified experience across all platforms — whether you’re reading the newspaper, following us on social media, or watching videos on our platform, we want you to enjoy the same cohesive experience throughout.”

In addition to its daily print newspaper, Annahar Media runs two websites, Annahar and Annahar Al-Arabi, while also managing a video platform and active social media channels.  

Tueni highlighted that her company worked with Innovation Media Consulting, a global consultancy firm, to revamp Annahar’s digital products, rebuild the newsroom using cutting-edge AI tools and workflows, and design a new commercial strategy.

Other renovation partners include the marketing communications group Impact BBDO, the engineering company Obermeyer Middle East, and the digital agency Born Interactive.

“In addition,” Tueni said, “we put significant effort into refining the content, reorganizing the structure, and rethinking how teams collaborate — even how to think in a different way to be from Lebanon to the Arab world, present in the whole Arab world.

“We’ve transitioned from being a traditional newspaper to what we call a ‘viewspaper.’ From Monday to Thursday, we publish a compact edition, while Friday features a more in-depth weekend edition, covering culture, lifestyle, and other topics.

“We provide deeper insights — the why, the what, and the what’s next — whether it’s politics, health, lifestyle, culture, technology, climate change, or any other issue,” she said.

The renovation and relaunch of Annahar have brought many challenges, largely caused by the ongoing conflict in Lebanon.

Describing the relaunch as “the bridge between the past and the future,” Tueni said that working toward this milestone “has been incredibly difficult because, first, we are in Lebanon and facing a lot of challenges.

“During the war, it has been tough to cover global events on little to no sleep, while also hearing the bombs, to check in on all colleagues who may have fled their homes, all while continuing to work on the content and the relaunch.”

Renovation efforts also involved transforming the offices in Martyr’s Square, a large portion of which was devastated by the Beirut Port blast on Aug. 4, 2020, when hundreds of tons of ammonium nitrate detonated in one of the port’s warehouses.

“We worked on our offices to have an AI-powered newsroom, studios, and a news cafe,” Tueni said.  

Elaborating on the news cafe, she said that it offers a platform and space for people to meet, hold conferences and talks, and maybe even organize fashion shows.

She added that Annahar is also planning to enhance its subscription model “to generate revenues on our archive — we’ve been working on documentaries, short documentaries, and content from the archives.”

Annahar’s teams are diligently working to produce “more podcasts, audios, and videos that resonate with a broader audience — talking to people from different places around the Arab world,” Tueni said.

“We’re also working to include content in foreign languages, including French and English.”

She added that “Annahar Media has a big role to play as a fact-checking hub to combat the spread of fake news,” which has been rampant in recent years.

The group is also developing a media training academy aimed at not only equipping journalist students with essential skills, but also offering courses to the wider public. These will cover topics such as public image, leadership, speaking on television, conducting interviews, and other communication skills.

On being resolute about relaunching despite the turmoil in Lebanon, Tueni highlighted Annahar’s unwavering commitment to its mission and vision “through the turbulence of war and uncertainty” since its founding in 1933 by Gebran Andraos Tueni.

She said: “Believing in Annahar, and in the mission and vision established by my grandfather and carried on by my father is incredibly important to me. Continuing this legacy is a vital endeavor.

“After 92 years of Annahar, we are embarking on a new chapter today, carrying forward the values instilled by the founder Gebran.

“Today, we’re translating this into a modern, forward-thinking approach, remaining committed to our mission of upholding the truth, delivering in-depth content, and maintaining a clear vision.”

Nayla Tueni was a member of the Lebanese parliament for a decade, from 2009 to 2018, representing the district of Achrafieh. In September 2011, she took on the role of editor-in-chief of both Annahar newspaper and its digital platform.