ECONOMY OF NEWS AND INFORMATION ACCESS IN THE DIGITAL AGE: CHALLENGES AND PROSPECTS

Abstract

This paper examined the economic decisions and activities that influence communication in its varied forms and processes. Employing causal exploratory research design, while using literature review as a research instrument; the paper analysed the various economic factors impacting communication and outlined benefits that are derivable as the two continued in the mutually symbiotic relationship. It looked at the Information Age and how the place of the economy continues to rise due to globalization and industrialization of communication, socio-cultural, political and security exigencies. The transactional nature of human interaction on several fronts which has made communication key was also analysed. It examined the diverse economic situations that have a direct or indirect impact on communication—the process, channels, infrastructure, ownership and policies etc; and technological advancements that plays greater role in this direction. Hence, the article made the following recommendations, that: the authority should free the media space and allow media pluralism to flourish; efforts at the increment and spread of Internet broadband and infrastructure should be intensified; on the Brown envelope syndrome; media outlets especially in developing societies need to take as important the welfare of journalists; citizens should be motivated to acquire digital communication and digital literacy skills; journalists should engage in investigative journalism to deter the practice of inducement to acquire information.