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Half of Asia’s ad money now flows to social media platforms, starving traditional outlets says expert

Published

3 weeks ago

2026/02/13

Nearly fifty per cent of advertising budgets in Asia are now being captured by social media platforms and digital influencers, a shift that is rapidly hollowing out the financial base of traditional media and threatening the future of independent journalism, Regional Advisor – Asia and Africa of International Media Support (Denmark) Dr. Ranga Kalansooriya warned.

Delivering the keynote address on “Emerging new media and the future of print journalism” at the launch of Pathrakala Prasadini — a compilation of mass communication articles by 20 senior scholars and veteran journalists — Dr. Kalansooriya said advertisers were increasingly diverting funds away from television, radio and print towards digital platforms, believing influencer-led promotions to be more “usable, user-friendly and penetrative”.

Sri Lanka’s advertising market for 2025–2026 was estimated at around US$ 400 million, he said. While nearly 90 per cent of that revenue had flowed to traditional media in previous years, the share had now shrunk to about 70 per cent, with roughly 30 per cent going to social media. Of the funds reaching mainstream media, television still commanded around 60 per cent, with radio and print together accounting for about 30 per cent, and the balance spent on billboards and other outdoor advertising.

Television, once the dominant beneficiary of 80–85 per cent of advertising expenditure, had seen its share erode significantly, Dr. Kalansooriya noted, warning that radio and print had been hit the hardest. “If one has money to invest, there are now four or five radio channels on sale,” he observed, underlining the financial distress in the sector.

A further concern, he said, was that much of the advertising money flowing into social media did not remain in Sri Lanka. An estimated 30 per cent of the national advertising budget was remitted overseas to global tech giants such as Meta and Google, as influencers and digital advertisers relied on foreign-owned platforms. This outflow, he warned, was likely to rise to between 35 and 40 per cent in the coming year.

Major advertisers in Sri Lanka had already begun splitting their budgets equally between digital and mainstream media, he said, even as television networks maintained they still commanded the lion’s share. The question, Dr. Kalansooriya cautioned, was whether that dominance could be sustained in the years ahead.

Placing the financial crisis in a broader democratic context, he said the media industry in Sri Lanka had rarely been a consistently profitable enterprise, with owners often subsidising operations through income from other businesses. Advertising revenue had traditionally sustained media institutions, and its erosion now imperilled their survival.

“We speak of the media as the fourth pillar of democracy,” Dr. Kalansooriya said. “There cannot be democracy without independent media. If independent media collapses, democracy collapses with it. Then who performs that role — Facebook, YouTube or TikTok?”

While many traditional media houses had moved into the digital space and begun seeking revenue through subscriptions and monetisation, he warned that this too risked deepening dependence on foreign platforms. Big Tech companies, he argued, were positioning themselves to replace independent media as key arbiters of public discourse, even as they claimed creators benefited from monetisation schemes.

Dr. Kalansooriya said several Asian countries had already begun grappling with the implications of this shift. Governments in the region were exploring mechanisms to support mainstream media, including public funds, regulatory interventions and the mobilisation of local capital. Canada, he noted, had introduced direct financial support for media institutions, while countries such as the Philippines and Indonesia had sought to channel corporate social responsibility (CSR) funds into sustaining news organisations.

He cautioned, however, that reliance on politicised corporate funding carried its own risks. In India, he said, an estimated 90 per cent of traditional media ownership had already shifted into the hands of business interests aligned with the political leadership, leaving only a small fraction of independent outlets, many of them digital.

The keynote address was delivered at an event held at the Russian Cultural Centre in Colombo to mark the launch of Pathrakala Prasadini, published in line with the 70th anniversary conference of the Sri Lanka Press Association and the D. F. Kariyakarawana Memorial Journalism awards. Director of the Colombo Russian House Maria Popova was the guest of honour.

By Saman Indrajith ✍️

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Maldives Coast Guard Ship Huravee departs island

Published

2 hours ago

2026/03/6

Priyan

The Maldives Coast Guard Ship Huravee which arrived in Sri Lanka for replenishment purposes, departed the island on 04 Mar 26.

In accordance with naval tradition, the Sri Lanka Navy extended a customary farewell to the departing ship at the Port of Colombo

News

‘IRIS Dena was Indian Navy guest, hit without warning’, Iran warns US of bitter regret

Published

14 hours ago

2026/03/6

Thilina Walpola

A day after a US submarine sunk an Iranian Navy warship off the coast of Sri Lanka, the Foreign Minister of Iran, Sayed Abbas Araghchi, has warned that the US would “pay bitterly” for targeting a ship in international waters, The Tribune has reported.

Araghchi posted on social media platform X on Thursday saying, “The US has perpetrated an atrocity at sea, 2,000 miles away from Iran’s shores.”

The frigate IRIS Dena, a guest of India’s Navy carrying almost 130 sailors, was struck in international waters without warning, said the Iran Foreign Minister, adding, “Mark my words: The US will come to bitterly regret the precedent it has set.”

US Secretary of War, Pete Hegseth, on Wednesday confirmed that a US submarine fired a torpedo and sank the Iranian Navy vessel IRIS Dena west of Sri Lanka.

In a way, the Iran and US-Israel conflict has reached close to the Indian coast. The strike today at sea was almost 4,000 kms away from Iran, significantly expanding the radius of war. Already, fearing Iranian missile strikes, several US warships have moved eastward towards India.

These ships are in international waters. India has denied that any US Navy assets were using Indian ports. The Iranian ship, hit on Wednesday, was returning after participating in the international fleet review and exercise Milan hosted by India at Visakhapatnam.

The Iranian ship went down with almost 130 sailors on board missing. The Sri Lankan Navy, acting on a distress call, rescued 32 of the Iranian sailors. Hegseth confirmed the act by the US forces, saying the ship was hit in the Indian Ocean, stating, “an Iranian warship that thought it was safe in international waters. .. Instead, it was sunk by a torpedo”.

Hegseth did not name the Iranian ship that was attacked. But earlier, the Sri Lankan Navy reported the distress call from IRIS Dena when it was some 40 kms west of Galle, located on the south-western part of the island country. On February 16, the Iranian ship had sailed into the port of Visakhapatnam, where seventy-four nations participated.

Warships from Australia, Japan, South Korea, Russia, and dozens of others were anchored alongside the now-sunk Iranian vessel. Iran’s Navy Commander, Rear Admiral Shahram Irani, held talks with India’s Chief of Naval Staff on strengthening maritime security cooperation.

The theme was “United through Oceans.” Notably, the US Navy was supposed to send the guided-missile destroyer USS Pinckney to the exercise Milan; however, the ship was diverted to Singapore on February 15. The US did not field its warship in Milan, which had ships from Russia and Iran.

The exercise ended on February 25. Three days later, on February 28, the United States and Israel launched Operation Epic Fury. The IRIS Dena was transiting home. This morning at 5:08 a.m. local time, the IRIS Dena issued a distress call. Sri Lanka’s Foreign Minister, Vijitha Herath, informed parliament that two navy vessels and an aircraft were deployed. Thirty crew members were rescued and admitted to Karapitiya Hospital in Galle.

The Straits Times reported 32 critically wounded survivors. Reuters reported 101 missing and 78 wounded. The Sri Lankan Navy spokesman said the operation was conducted in line with the International Convention on Maritime Search and Rescue.

News

Risk of power cuts due to use of low-quality coal,PUCSL warns

Published

14 hours ago

2026/03/6

Thilina Walpola

The Public Utilities Commission of Sri Lanka (PUCSL) has warned of a possible risk of power cuts due to the use of inferior quality coal affecting generation capacity at the Lakvijaya Power Plant, according to a recent commission report.

The commission said the risk to the continuous electricity supply was assessed based on the peak demand forecast submitted by the Ceylon Electricity Board (CEB) for 2026.

According to the report, the analysis assumed that hydropower plants could contribute up to 1,300 MW to meet the night peak demand, while the Lakvijaya Power Plant (LVPS) would be able to contribute only up to 690 MW due to a capacity shortfall, assuming a 40 MW generation capacity reduction from each unit.

The PUCSL said the assessment was carried out taking into account the planned maintenance schedule submitted by the CEB. Under the schedule, Unit 1 of the Lakvijaya plant is due to undergo maintenance checks and repairs in June for a period of 25 days, while Unit 2 is scheduled for maintenance in July for another 25 days.

The report also noted that the 270 MW West Coast Power Plant is scheduled to undergo maintenance in April for 10 days, while the 150 MW Kelanitissa Combined Cycle Power Plant (KCCP 2) is expected to undergo maintenance during May, June and July.

Under normal conditions, the report said, there is a potential risk of a generation capacity shortage if electricity demand reaches 3,030 MW in April, 3,070 MW in June and 3,000 MW in July.

The highest recorded night peak demand so far in 2026 was 2,949 MW on February 25.

The PUCSL further warned that if one coal unit or any major power plant becomes unavailable from the existing generation mix, there would be a significant risk of a generation capacity shortage to meet the night peak demand, particularly during April, June and July.

Energy sector analysts said the use of substandard coal could further aggravate operational challenges at the Norochcholai plant, potentially affecting generation efficiency and reliability if corrective measures are not taken promptly.

By Ifham Nizam