Media firms say reputation damage is biggest risk

The reputation of UK broadcasters is under public scrutiny despite 70% of broadcasting and telecommunications companies having plans to tackle reputational damage, said a new survey.

Research by Aon finds that media companies cite damage to reputation as their biggest threat.

The study found that over two thirds of the media sector has crisis management plans in place which focus on managing the impact of negative publicity. Yet recent debate over misleading programme content and problematic phone-in competitions indicates that these plans may need to be more robust, said Aon.

More worryingly, said Aon, is that 30% of media companies have no plans to protect their reputation.

Alex Hindson, associate director at Aon global risk consulting, said: "It is often sub-contractors who have created the storm but the programmers who have suffered the reputational damage. This raises the key question on whether risk management plans take into account not only the actions of your own organisation but also those of your business partners and suppliers. The media sector must also consider how they select and manage partners to protect their reputation, as well as drive efficiencies and cost savings."

The findings come from Aon’s Global Risk Management Survey 2007.