This study surveys audience perception of the private press environment in Ethiopia -since 2005.rnWith an objective of outlining its major features and addressing the problems in the private pressrnsector of the country, the study tries to answer two research questions that deal with audiencernperception of the roles and responsibilities of journalists of the private press and the pressrninstitutions and their views on the practical roles and challenges of the private press in Ethiopiarnsince2005. The study has used quantitative and qualitative methods. To that end, questionnairesrnwere distributed among IOO respondents and in depth interviews were made with six informants.rnIn addition to that different documents have been used as important sources of data. The findingsrnhave shown that among the largest number of respondents journalists of the private press andrnthe press institutions are perceived as having multiple key roles to play and a higher degree ofrnresponsibility to shoulder as compared to other parts of a society. The largest number ofrnrespondents and informants believe that the private press in Ethiopia played a -bigger rolernbefore the 2005 national elections compared with their role in the period since then. The studyrnhas also identified,' the failure to provide accurate information, lack of professional competence,rnlack of professional ethics and a professional analytic approach and limited financial andrninstitutional capacity as the major internal challenges and restrictive laws (increasing pressurernfrom the government), low development of democratic culture, problems related to market andrnpublishing and the absence of many institutions for journalism education and training as thernmajor external challenges of the private press in Ethiopia particularly since 2005. The studyrnconcludes that the media situation that prevailed since the 2005 national elections has made itrnincreasingly difficult for the private press in Ethiopia to playa meaningfiti role as vital sourcesrnof information, as instruments for exercising freedom of expression and democracy and as arnwatch-dog.