First City Monument Bank and BHM have led a renewed push for alternative revenue models in Nigeria’s media industry amid declining traditional advertising income.

The organisations hosted the pilot edition of The Monetised Content Masterclass on 20 April in Lagos, bringing together reporters, content creators and editors to address growing concerns over the sustainability of newsrooms and media platforms.

The session comes as traditional advertising revenues continue to decline for publishers, even as Nigeria’s entertainment and digital media market expands and is projected to hit $4.9bn by 2026.

Participants at the masterclass examined practical strategies for diversifying income streams, strengthening financial resilience and sustaining editorial independence.

They explored opportunities beyond advertising, including brand partnerships, digital content monetisation and audience-led revenue models, during panel discussions, question-and-answer sessions and peer exchanges.

The Divisional Head, Corporate Affairs, FCMB Group, Diran Olojo, said, “Traditional models are under pressure, and attention is more fragmented than ever. The focus now is on building structured, sustainable platforms that can deliver both impact and long-term value.”

Also, the Chief Executive Officer and Founder of BHM, Ayeni Adekunle, said, “The economics of media have changed. For journalism to remain independent, it must also become financially resilient. That shift requires new thinking and deliberate action.”

The session, moderated by the Founder and Chief Executive Officer of Big Tech This Week, Fatu Ogwuche, featured notable speakers, including investigative journalist Fisayo Soyombo, storyteller and producer Chris Ihidero, executive and storytelling expert Jennifer Mairo, and digital media entrepreneur Peter Oluka.

The organisers said the initiative reflects a shared commitment by FCMB and BHM to strengthen the long-term sustainability of Nigeria’s media ecosystem through capacity building and industry collaboration.

Arinze Nwafor is a journalist at Punch Newspapers with five years of experience reporting on Nigeria’s economy, industry, data, metro, and judiciary. He focuses on highlighting growth, policy, and market challenges shaping Africa’s largest economy. Arinze’s reporting reflects practical newsroom experience, editorial judgment, and a strong commitment to accurate, informative, and audience-focused journalism.