The South African print media interests are held in Media24.
Revenue growth was recorded, with advertising revenue improving modestly. However, trading profit and EBITDA declined in part due to the implementation of a new enterprise resource planning (ERP) system.
NewspapersMedia24 Newspapers continued to optimise the structure of its businesses. Cost savings were achieved through improved efficiency, and there was a strong focus on the quality of content. The division’s central investigative reporting team was expanded and secured several scoops during the year. However, newspaper subscriptions were affected by severe implementation problems with the abovementioned ERP system.
The Sunday newspaper, City Press, was redesigned and its editor-in-chief won the National Press Club’s editor of the year award. Sake24, our Afrikaans broadsheet business section, increased readership after being refocused.
Our medium-term goal is to rebuild the profitability of this division through cost management and market development, while sharpening our focus on editorial excellence.
24.com, the largest internet publisher in South Africa, has been repositioned in the Media24 newspaper division to ensure these brands can capitalise on opportunities provided by the rapidly growing mobile and tablet markets. 24.com grew monthly visitors by some 40% across its network of sites.
Muted conditions for the global magazine industry continued. We started developing digital businesses based on our magazine content.
Our editorial teams continued to boost their standing in the local industry. In addition to individual editors and journalists winning several national awards, Media24 Magazines led the prestigious annual Pica Awards (page 91).