Spanish media groups are still not aware of the risks to their credibility and editorial independence. This is the main conclusion of the Report "Primera Plana: Transparency and good governance report on the credibility and independence of media groups".The Commitment and Transparency Foundation. According to this study, none of the twenty media analysed complies with the minimum rules for transparency.
The report divides the media groups into listed and unlisted and, from there, establishes a comparison between them according to a series of indicators and basic parameters such as ownership, governance, financing, generation and dissemination of content and regulatory compliance. Although the former show a greater degree of transparency on their respective websites (the subject of the study), the difference with those that are not listed does not translate into greater efficiency when it comes to manage the risks that may damage its credibility and independence. Nor should it be forgotten that listed media companies are subject and obliged to exhaustive control and a continuous demand to provide value to their shareholders. However, as the study concludes, this requirement does not guarantee the promotion of policies to protect quality and editorial independence.
On the other hand, the fact that unlisted companies do not have to legally publish certain information cannot be used to justify the great opacity they show in all aspects of their practices to guarantee their editorial independence and credibility.
It is paradoxical that one of the sectors with the greatest influence on society's values should be so opaque. What is even more serious, as the report points out, is that we are at a very difficult time in which the credibility of the institutionsincluding information companies, is being besieged by the growth of a phenomenon that isThe fake news, which, although not new, is spreading at great speed through digital platforms.
The report by the Fundación Compromiso y Transparencia includes a set of recommendations to help media companies to adopt and make public a series of practices and policies aimed at strengthening their credibility in all aspects of their activity and structure. Among these, the most important are those linked to the publication of information about the owners of the media, as well as the links of their owners (political, economic or family, among others) that may influence their independence. Another good practice is the need for sustainability and corporate social responsibility reports to include a specific chapter identifying, analysing and explaining the measures adopted to manage risks that may affect credibility and independence.
"All media should develop or adopt a code of ethics or editorial charter and make it publicly available to all stakeholders such as readers, organised civil society, investors and shareholders", as included in the recommendations section of the report.
Finally, there is a section that has uncovered the box of thunder. It is the increase in the so-called branded content or sponsored content in the media. While it is recognised as a very interesting opportunity to generate revenue, it poses significant risks that can affect the credibility of the media. It is therefore imperative for the media to be transparent in the labelling of the branded content clarifying to readers the conditions and characteristics of this type of collaboration, especially whether these advertising pieces have been produced by the company or by the media, among other relevant issues.
The presentation of this report, which took place at the Rafael del Pino Foundation, was given by its authors. Javier Martín Cavannafounder and director of the Fundación Compromiso y Transparencia, and Elena Herrero-BeaumontVinces managing partner.
A decade of analysis
For ten years, the Fundación Compromiso y Transparencia has been analysing public and private institutions that play an important role in the development of society and the defence of democratic values through its reports and studies. In total, around 500 institutions are examined each year, studying the relevant information that they make public on their corporate websites on issues related to the management of their risks and commitments to their environment.
Barbara Yuste
Director of Digital Communication at Proa Comunicación
Barbara Yuste
Director of Digital Communication at Proa Comunicación