South Africa’s 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 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 – including Beeld, Rapport, City Press, Daily Sun and Soccer Laduma.
Parent 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.
CEO Ishmet Davidson said Media24’s print revenue had halved in the past seven years. “While News24 now has more than 20 million monthly users and over 100,000 subscribers, advertising income has fallen sharply,” he said. “The growth in subscriptions has not made up for lost ad revenue.”
The company warned of job losses linked to its overhaul, with about 400 roles expected to be cut.
Still, 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 – both overseen by human editors.
Looking to 2026, Naspers reaffirmed its commitment to Media24’s democratic role and long-term sustainability. But the company’s sharp revenue fall highlights the painful transition facing many legacy publishers.
Source: Noah Wire Services
- https://www.citizen.co.za/business/media24-takes-a-knock/ – Please view link – unable to able to access data
- https://www.citizen.co.za/business/media24-takes-a-knock/ – Media24, South Africa’s largest media company, reported a 17% decline in revenue for the year ending March 2025, dropping from $175 million to $141 million. This downturn follows the discontinuation of several printed newspapers, including Beeld, Rapport, City Press, Daily Sun, and Soccer Laduma, as well as the digital PDF editions of Volksblad and Die Burger Oos-Kaap. The company has realigned its operations to focus on digital news brands News24 and Netwerk24, transitioning Sunday newspapers Rapport and City Press to digital-only formats. Additionally, Media24 has divested its logistics operations, M24 Logistics and On the Dot, and established a strong base for AI use, launching a GenAI circle and various training sessions to enhance back-end operations in its media divisions.
- https://dailyinvestor.com/technology/91398/south-africas-largest-media-company-takes-a-knock/ – Media24, owned by Naspers, reported a significant decline in revenue and earnings for the 2025 financial year. The company discontinued most of its printed newspapers, including Beeld, Rapport, City Press, Daily Sun, and Soccer Laduma, and divested its logistics operations, M24 Logistics and On the Dot. Media24 realigned its media operations to focus on digital news brands News24 and Netwerk24, closing the digital content hub SNL24, divesting community newspapers and soccer titles, and transitioning Sunday newspapers Rapport and City Press into digital-only brands. The company also established a strong base for AI use, launching a GenAI circle and various training sessions to enhance back-end operations in its media divisions.
- https://www.news24.com/fin24/companies/google-not-government-has-brought-sa-media-to-its-knees-media24-ceo-20240305 – Media24 CEO Ishmet Davidson stated that changing reader behaviour has resulted in a roughly 50% decline in the company’s print business over the last seven years. Despite investing in digital publications like News24, which has a monthly readership of over 20 million users and a subscriber base of over 100,000, advertising revenue at News24 has ‘shrunk considerably.’ Davidson highlighted that the revenue growth from the growing subscriber base over the last three years has not been enough to offset the decline in advertising revenue, indicating an unsustainable business model for South African news media organisations.
- https://www.thesouthafrican.com/news/business-news-and-finance/media24-print-hole-the-scary-numbers-latest-update-newspapers-afriforum/ – Media24 plans to close five of its well-known newspapers, including Afrikaans titles Rapport and Beeld, and English papers City Press, Daily Sun, and Soccer Laduma. The closures are expected to result in around 400 job losses. The company cited a decline in circulation and advertising, coupled with rising fixed distribution costs, as reasons for the decision. The closures are part of a broader trend in South Africa’s media landscape, where print media is facing significant challenges due to changing reader preferences and economic pressures.
- https://www.businesslive.co.za/bd/companies/telecoms-and-technology/2025-03-04-media24-closures-and-sales-hamper-caxtons-operations/ – Caxton and CTP Publishers reported that the sale of Media24’s newspaper distributor to Novus in 2024 has started to impact its operations, leading to increased distribution costs. The JSE-listed printing and publishing group highlighted this issue in its half-year earnings report for the period ending December 2024. The sale of Media24’s logistics business has affected Caxton’s operations, and the company is exploring ways to mitigate the impact of these changes.
- https://www.businesslive.co.za/bd/companies/2024-06-18-media24-confirms-newspaper-closures-are-on-the-cards/ – Media24 is considering closing the print editions of five newspapers, including Beeld, Rapport, City Press, Daily Sun, and Soccer Laduma, transitioning three of them into digital-only brands. CEO Ishmet Davidson stated that after years of cutbacks, the company has reached the end of cost reductions to try to save these print operations. The closures are expected to lead to at least 400 job losses, with another 400 potentially transferring to Novus upon the sale of On the Dot and community newspapers.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The narrative presents recent developments, including Media24’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’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’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.
Quotes check
Score:
9
Notes:
The narrative includes direct quotes from Media24’s CEO, Ishmet Davidson, regarding the company’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.
Source reliability
Score:
7
Notes:
The narrative originates from The Citizen, a reputable South African news outlet. However, the report is based on a press release from Naspers, Media24’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.
Plausability check
Score:
8
Notes:
The claims regarding Media24’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.
Overall assessment
Verdict (FAIL, OPEN, PASS): OPEN
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The narrative presents current information on Media24’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.
Register for Editor’s picks
Stay ahead of the curve with our Editor's picks newsletter – your weekly insight into the trends, challenges, and innovations driving the future of digital media.
