The Advertising Factor in the Growth and Development of Independent Newspapers in Ghana – A Case Study of Business and Financial Times

Abstract

This study investigated the advertising factor in the growth and development of independent newspapers in Ghana and used the Business and Financial Times, as a case study. Objectives of the study were firstly to ascertain whether newspapers operating in Ghana, a developing country, faced similar challenges as American and European newspapers. The study’s second objective was to find out the measures management of the Business and Financial Times adopted to mitigate these challenges and also find out the role advertising played in the growth, development and sustenance of the newspaper. After in-depth interviews with the Business and Development Manager and the Editor, the study found that advertising, content, events, sales and circulation accounted for the newspapers growth and development. The study also found that the newspaper faced similar challenges - low readership, circulation and penetration of the newspaper, limited human resource, technological advancement of online news, advertisers lag in paying on time and advertiser influence on content - like those in the global north. One challenge which was found to be peculiar to Ghana was newspaper review programmes on radio. Management of the Business and Financial Times employed distributing free copies of the newspaper, investing in newsroom, multimedia diversification and barter to mitigate these challenges. However, even though revenue from advertising was the biggest contributor to Business and Financial Times’ growth and development, advertising revenue does not come immediately newspaper space is sold to enable management plan their operations. The newspaper’s management therefore resorted to the employment o