Impact of new media technologies on the production of economics news in South Africa : a case study of Fin24.com (www.fin24.com)

Abstract

New media technology continues to provide journalists with sophisticated tools that are changing news processing and gathering. Economics journalists in particular have grasped the possibilities offered by new media technologies. Thus, this paper offers a theoretical and practical look at how new media technologies have impacted the production and processing of economics news in South Africa, with a particular focus on Fin24.com which is South Africa's biggest online economics news publication. Using qualitative research methods and the case-study approach, this thesis documents the impact of new media technologies on the production of economics news. It draws on Witschge and Nygren's (2009) framework which describes how new media technologies change the nature in which news is produced and processed. New media technologies in this study will refer to the Internet, particularly search engines like Google, social networking sites such as Twitter and Facebook, Blogs as well as mobile telephony. Economics journalism will here refer to all coverage of economics and business-related news. This is because the case study (Fin24.com) covers both business and economics journalism by strict definition. Findings reveal that these new media technologies have not only changed economics newsgathering and processing but also journalistic routines. The findings generally show that new media technologies make it easier for economics journalists to produce the news quickly and efficiently. Indeed, the most distinguishing characteristic of new media is its overall speed, which is both challenging and attractive. The findings also reveal that new media technologies within a newsroom can be problematic in a number of ways, mainly raising issues of accuracy and credibility thus challenging the profession of economics journalism more than ever