{"id":4666,"date":"2025-06-30T13:40:00","date_gmt":"2025-06-30T13:40:00","guid":{"rendered":"https:\/\/sandbox.hbmadvisory.com\/amplify\/media24s-revenue-plunges-17-after-print-closures\/"},"modified":"2025-07-01T13:45:49","modified_gmt":"2025-07-01T13:45:49","slug":"media24s-revenue-plunges-17-after-print-closures","status":"publish","type":"post","link":"https:\/\/sandbox.hbmadvisory.com\/amplify\/media24s-revenue-plunges-17-after-print-closures\/","title":{"rendered":"Media24\u2019s revenue plunges 17% after print closures"},"content":{"rendered":"<p><\/p>\n<div>\n<p>South Africa\u2019s largest media company, Media24, has reported a 17% fall in revenue for the financial year ending March 2025, as it winds down most of its print operations and accelerates a shift to digital. Revenue dropped from R3.2 billion ($175 million) in 2024 to R2.58 billion ($141 million) this year.<br \/>\nThe decline reflects deep structural changes in South African media, with shrinking readership, falling ad revenues and rising distribution costs making many print titles unsustainable. Over the past year, Media24 has scrapped most of its printed newspapers \u2013 including Beeld, Rapport, City Press, Daily Sun and Soccer Laduma.<br \/>\nParent company Naspers is now focusing on digital news brands News24 and Netwerk24. Sunday titles Rapport and City Press now operate as digital-only publications within those platforms. The company also closed digital sports platform SNL24, sold off its community papers and soccer titles, and exited its logistics businesses, M24 Logistics and On the Dot.<br \/>\nCEO Ishmet Davidson said Media24\u2019s print revenue had halved in the past seven years. \u201cWhile News24 now has more than 20 million monthly users and over 100,000 subscribers, advertising income has fallen sharply,\u201d he said. \u201cThe growth in subscriptions has not made up for lost ad revenue.\u201d<br \/>\nThe company warned of job losses linked to its overhaul, with about 400 roles expected to be cut.<br \/>\nStill, Media24 is pushing ahead with plans to build a sustainable digital media business across news, television and book publishing. The company has ramped up its use of artificial intelligence, forming a Gen AI group and running newsroom training. AI now supports summarisation, transcription, translation, audiobook production, copy editing and visual design. For advertisers, Media24 has launched a contextual targeting product called Match24 and a story sentiment tracker to ensure brand-safe placement \u2013 both overseen by human editors.<br \/>\nLooking to 2026, Naspers reaffirmed its commitment to Media24\u2019s democratic role and long-term sustainability. But the company\u2019s sharp revenue fall highlights the painful transition facing many legacy publishers. <\/p>\n<p>Source: <a href=\"https:\/\/www.noahwire.com\" rel=\"nofollow noopener\" target=\"_blank\">Noah Wire Services<\/a><\/p>\n<\/p><\/div>\n<div>\n<h3 class=\"mt-0\">Noah Fact Check Pro<\/h3>\n<p class=\"text-sm\">The draft above was created using the information available at the time the story first<br \/>\n        emerged. We\u2019ve since applied our fact-checking process to the final narrative, based on the criteria listed<br \/>\n        below. The results are intended to help you assess the credibility of the piece and highlight any areas that may<br \/>\n        warrant further investigation.<\/p>\n<h3 class=\"mt-3 mb-1 font-semibold text-base\">Freshness check<\/h3>\n<p class=\"text-sm pt-0\"><span class=\"font-bold\">Score:<br \/>\n        <\/span>8<\/p>\n<p class=\"text-sm pt-0\"><span class=\"font-bold\">Notes:<br \/>\n        <\/span>The narrative presents recent developments, including Media24&#8217;s 17% revenue decline for the financial year ending March 2025 and its strategic shift towards digital media. The earliest known publication date of similar content is June 18, 2024, when BusinessLive reported on Media24&#8217;s consideration of newspaper closures, indicating that the core information is current. ([businesslive.co.za](https:\/\/www.businesslive.co.za\/bd\/companies\/2024-06-18-media24-confirms-newspaper-closures-are-on-the-cards\/?utm_source=openai)) The report is based on a press release from Naspers, Media24&#8217;s parent company, which typically warrants a high freshness score. However, the narrative includes updated data on revenue figures and strategic decisions, justifying a higher freshness score but should still be flagged for potential recycled content.<\/p>\n<h3 class=\"mt-3 mb-1 font-semibold text-base\">Quotes check<\/h3>\n<p class=\"text-sm pt-0\"><span class=\"font-bold\">Score:<br \/>\n        <\/span>9<\/p>\n<p class=\"text-sm pt-0\"><span class=\"font-bold\">Notes:<br \/>\n        <\/span>The narrative includes direct quotes from Media24&#8217;s CEO, Ishmet Davidson, regarding the company&#8217;s strategic decisions and financial performance. A search for the earliest known usage of these quotes indicates that they were first reported in BusinessLive on June 18, 2024. ([businesslive.co.za](https:\/\/www.businesslive.co.za\/bd\/companies\/2024-06-18-media24-confirms-newspaper-closures-are-on-the-cards\/?utm_source=openai)) The identical quotes appearing in earlier material suggest that the content may have been reused. The wording of the quotes varies slightly in different sources, indicating potential paraphrasing. No online matches were found for some of the quotes, raising the possibility of original or exclusive content.<\/p>\n<h3 class=\"mt-3 mb-1 font-semibold text-base\">Source reliability<\/h3>\n<p class=\"text-sm pt-0\"><span class=\"font-bold\">Score:<br \/>\n        <\/span>7<\/p>\n<p class=\"text-sm pt-0\"><span class=\"font-bold\">Notes:<br \/>\n        <\/span>The narrative originates from The Citizen, a reputable South African news outlet. However, the report is based on a press release from Naspers, Media24&#8217;s parent company, which may introduce bias. The reliance on a single source for the strategic decisions and financial performance details raises concerns about the comprehensiveness and objectivity of the information.<\/p>\n<h3 class=\"mt-3 mb-1 font-semibold text-base\">Plausability check<\/h3>\n<p class=\"text-sm pt-0\"><span class=\"font-bold\">Score:<br \/>\n        <\/span>8<\/p>\n<p class=\"text-sm pt-0\"><span class=\"font-bold\">Notes:<br \/>\n        <\/span>The claims regarding Media24&#8217;s 17% revenue decline and strategic shift to digital media are plausible and align with known industry trends. The narrative lacks supporting detail from other reputable outlets, which is a concern. The report includes specific factual anchors, such as revenue figures and dates, enhancing its credibility. The language and tone are consistent with typical corporate communications, and there is no excessive or off-topic detail unrelated to the claim.<\/p>\n<h3 class=\"mt-3 mb-1 font-semibold text-base\">Overall assessment<\/h3>\n<p class=\"text-sm pt-0\"><span class=\"font-bold\">Verdict<\/span> (FAIL, OPEN, PASS): <span class=\"font-bold\">OPEN<\/span><\/p>\n<p class=\"text-sm pt-0\"><span class=\"font-bold\">Confidence<\/span> (LOW, MEDIUM, HIGH): <span class=\"font-bold\">MEDIUM<\/span><\/p>\n<p class=\"text-sm mb-3 pt-0\"><span class=\"font-bold\">Summary:<br \/>\n        <\/span>The narrative presents current information on Media24&#8217;s financial performance and strategic shift, with a freshness score of 8. The inclusion of quotes from CEO Ishmet Davidson, first reported in June 2024, suggests potential reuse of content, affecting the originality score. The reliance on a single source for strategic decisions and financial details raises concerns about the comprehensiveness and objectivity of the information, impacting the source reliability score. While the claims are plausible and supported by specific factual anchors, the lack of supporting detail from other reputable outlets and the potential reuse of content warrant further scrutiny.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>South Africa\u2019s largest media company, Media24, has reported a 17% fall in revenue for the financial year ending March 2025, as it winds down most of its print operations and accelerates a shift to digital. Revenue dropped from R3.2 billion ($175 million) in 2024 to R2.58 billion ($141 million) this year. The decline reflects deep<\/p>\n","protected":false},"author":1,"featured_media":4667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[118],"tags":[],"class_list":{"0":"post-4666","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-publishing-news"},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/posts\/4666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/comments?post=4666"}],"version-history":[{"count":1,"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/posts\/4666\/revisions"}],"predecessor-version":[{"id":4668,"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/posts\/4666\/revisions\/4668"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/media\/4667"}],"wp:attachment":[{"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/media?parent=4666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/categories?post=4666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sandbox.hbmadvisory.com\/amplify\/wp-json\/wp\/v2\/tags?post=4666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}