The news media industry works within an economic environment that is made up of changing print revenues, digital transitions, competition from social media, and changing audience preferences on how they consume news. This paper will cover the role of the master budget in the strategic allocation of financial resources in a news media company. This topic remains relevant in research and real-world application because the management of resources is an important aspect for the sustainability and growth of companies. Furthermore, this paper highlights how strategy-driven budgeting can enhance planning and decision-making for tactical development that is intentional. Accurate forecasts of financial troubles not only is able to help safeguard investors but also improves the ability of managers to manage financial risk of a company (Zhang, et al., 2024). By implementing cost management and budgeting tools, managers are able to turn its financial data into financial ratios in order to be able to uncover the financial condition of its company. News media organizations need to work through the ongoing changing of consumer preferences in today's fast-changing online platforms. For example, it used to be that just print advertising was enough, but now organizations need to allocate resources to online advertising within social media platforms like Facebook, Instagram, and TikTok. On top of changing marketing tactics from print to online platforms, news media organizations also need to be able to capture and take away the attention from users scrolling on social media in order for them to read the company’s published stories.
Miguel Virgen (Mon,) studied this question.