Business: None of their business
Sidelined. Business News figures little in Filipino news channels.
News channels are becoming everywhere on TV here in the Philippines. In just two weeks, two networks launched their own version of an all-news channel, promising to get Filipino viewers in touch with the latest news and information they need when they want it, right at the hit of the bat. One station promises to give you action aside from news, in line with their public service creed. Another vows to make you in the know about what you want and need to know at the moment you want and need it. Of course, these two new stations were launched to challenge the dominance of another network’s all-news channel in cable, the forerunner in the race which from the beginning pledges to be in the service of the Filipino 24-7.
These channels are just great. They, in their own right, have provided viewers with excellent news programs, magazines shows, talk shows, sports news, showbiz scoops and even weather updates that are at par with the well-known international news channels. However, there is one important topic that these news channels have somehow failed to give sufficient light in to — Business News.
But somehow, it is forgivable that our news channels, especially the new ones these past weeks have failed to give business news an ample amount of air time. However, in a country whose economy has never gotten beyond the threshold of being a tiger “cub”, it is almost imperative that these channels provide the common masses with understanding of business so that they themselves can be active contributors to the country’s economy. Showing dollar exchange rates and stock market prices on TV just wouldn’t do. In order for people to be motivated to become entrepreneurs themselves, we need business news programs that would be understood by the common man in the streets.
Some television stations have attempted to give business a little focus though. The National Broadcasting Network (NBN), the country’s state TV, has a 30-minute business news program, Teledyaryo Business. The ABS-CBN News Channel devotes even longer time with its 1-hour Business Nightly. It also has provides updates on international business figures and trends through CNBC Asia’s “Cash Flow”. However, ANC is not always available to non-cable subscribers and is delivered in a language not understood by masa. NBN on the other hand needs a facelift and establish itself as a reliable network in order to gain viewership.
In short, the challenge that lies in the hands of big television networks is to deliver fresh business news and analysis in a way that the masa would understand and empower them to contribute in the capitalist enterprise, aside from keeping the current business sector in touch with business information. This is a big gamble for big networks, but it must be done. In fact, it should be part of their corporate social responsibility — to mold the country’s citizens to become productive, competitive and industrious individuals. So despite its risky and lucrative nature, big networks should seriously think about providing more business news on air. Not just information of foreign exchange, shares of stocks or oil and commodity prices, but as well as analysis of current business trends and events, forecasting of micro and macro economic outcomes, and providing entrepreneurial knowledge and skills through television.
This is going to be a though challenge, but given the will, the resources and the manpower, big networks can deliver fresh and rich business news like pancakes. The next question to ask then is: Are the big networks up to the challenge? Only they can answer that.
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Let’s face it, pinoys would rather watch Mara Clara and Pinoy Big Brother on prime time rather than waste their time on such programs. These big networks wouldn’t waste money on things that wouldn’t give them ratings either. It’s probably because majority of the “masa” you were referring to in your article are mostly ignorant and are preoccupied with their day to day problems (including feeding their family) that’s why watching TV for them doesn’t go beyond the aim of being entertained.
I suppose the only way to break free of this is to focus on educating the masses so they could appreciate these kind of TV programs. The only problem I see is that the rich families controlling these TV stations wouldn’t be happy educating the poor because they would eventually lose control. They say that ignorance is a bliss, so keeping the “masa” ignorant makes them more apathetic and less sensitive to what’s happening in the country. So all efforts would be futile because the status quo would just be maintained and the gap between the poor and the affluent Filipinos would remain unbridgeable unless the elites decide to share control to enable growth and development. I’m sure the elites are not going to give up their position so easily so the only way to break the cycle is a revolution aimed at radically changing the institutions including the media.
Are u reading something while u talking??? u know all the situation eh.
I agree on this article. I do believe having your own businesses will make you more financially capable especially if you’re not aiming (or getting) a higher position in a corporate company.
BTW when are the schedules of the business programs mentioned here? (NBN, ABSCBN, ANC, and CNBC business programs) Thanks Much!
May times media brings merely on the object’s that don’t lead the people especially if the country has an ailing economy. It is important to emphasize the unsettled questions and the outcome in the society at large is significant. They should make known and know your opinion or situation. In other respects, don’t just merely hide or show the truth of the existing condition, place emphasis on how things could be favorable or commendable.
wait again, i think its the term they used, sorry for that, Im one of the MASA…
wait – ANC delivered a language that is not understood by the MASA – is this correct? what language is this?… IMHO
I agree. Sometimes I watch channel 4 just for the business news. (Too bad we don’t have cable to watch ANC).
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