Many organisations underestimate the influence of the media, viewing it merely as a platform for advertising or a threat in times of crisis. Yet, the media is a powerful and ever-present stakeholder that plays a central role in shaping how other stakeholders perceive and respond to a company’s actions. Its reach, credibility, and ability to frame narratives make it not just an observer of corporate behaviour but a key player in the stakeholder landscape.

Media outlets—from traditional newspapers and radio stations to digital publications, podcasts, and social media influencers—can influence public sentiment, investor confidence, employee morale, and community buy-in. Their role in holding organisations accountable and amplifying public opinion means they are stakeholders. Their support can elevate a company’s reputation and stakeholder trust; their criticism, if mishandled, can inflict severe reputational damage.

Organisations must move beyond reactive public relations to harness the power of the media as a tool in stakeholder engagement. They must intentionally cultivate relationships with credible journalists, editors, and media platforms before a crisis emerges. Proactive and strategic engagement with media allows companies to communicate complex information in a digestible and relatable way to various stakeholder groups.

Consider how Discovery Health used the media during the COVID-19 pandemic to communicate updates and educate the public on vaccinations, variants, and medical protocols. Through respected news channels and frequent media briefings, Discovery positioned itself as a credible voice, helping the public and its stakeholders navigate uncertainty with clarity and trust. Similarly, Nedbank’s media engagement around its climate financing initiatives provided transparency and boosted its standing among regulators, customers, and ESG-focused investors.

Companies should understand that the media can be particularly effective when scale and speed of communication are essential. During a product recall, an environmental incident, or a change in leadership, the media can reach more people faster than traditional stakeholder meetings or email updates. When stakeholder trust is low, the press becomes crucial, offering third-party validation when company statements alone are insufficient. A well-placed feature in a reputable outlet or a balanced interview can rebuild credibility far more efficiently than a corporate newsletter.

There are also cases where the media is the only viable way to reach specific groups. For example, community radio can be instrumental in reaching rural audiences, while podcasts and social media influencers are better suited for engaging younger, urban populations. Organisations that tailor their media approach to the habits and preferences of their stakeholders are more likely to achieve meaningful engagement.

However, the power of the media cuts both ways. When companies fail to engage it wisely, they pay the price. Tiger Brands is a case in point. During the 2017-2018 listeriosis outbreak, the company’s delayed response and initial denial of responsibility created a vacuum that the media filled with speculation, anger, and fear. The public backlash was swift and brutal, and rebuilding trust took years. Another example is MTN Nigeria’s handling of the 2015 regulatory crisis. The absence of a clear and timely narrative allowed misinformation to flourish, deepening stakeholder confusion and eroding confidence.

Even state-owned entities like South African Airways have seen how erratic communication through the media can erode stakeholder trust. Repeated bailouts, operational mishaps, and vague messaging led to a public perception of incompetence and wastefulness, much of it reinforced by poor media handling rather than the operational challenges alone.

The key is enlisting the media as a communication tool and stakeholder partner. This means regular engagement, access to credible spokespeople, timely and accurate information, and mutual respect for the role each plays. It also means investing in media training for executives, developing clear media protocols, and integrating media strategy into the overall stakeholder engagement plan.

When respected and strategically engaged, media can help organisations communicate better, respond faster, and build more profound, resilient relationships with the people and institutions that matter most. In the age of radical transparency, companies that ignore the media do so at their peril. At the same time, those who embrace it often find a powerful ally in their journey to earn and maintain stakeholder trust.