Media24 revenue declined by 38% over the last year

Media24’s revenue declined by 38% year-on-year following the company’s transition to a digital-first media group. This was revealed in Naspers’ financial results for the six months ended 30 September 2025, which were released on Monday.The company was founded in 1915 as a publishing house, Die Nasionale Pers. However, it changed its name to Naspers as part of transforming into a technology company. Today, Naspers is a multinational internet, technology, and multimedia holding company headquartered in Cape Town. It has transformed from a traditional South African publisher into a global technology investment giant and one of the biggest tech investors in the world.Through Prosus, it holds stakes in technology companies across various sectors in Europe, India, the US, Brazil, and other regions. Naspers has a primary listing on the Johannesburg Stock Exchange (JSE) and a secondary listing on the A2X Exchange in South Africa. In South Africa, Naspers owns many prominent companies, including Media24, Takealot, Autotrader, and Property24.Media24, a wholly-owned subsidiary of Naspers, is essentially the original ‘Die Nasionale Pers’. It remains South Africa’s leading media company. Until recently, Media24 generated revenue through digital media, newspapers, magazines, book publishing, logistics and distribution, and TV content.However, the company recently discontinued most of its printed newspapers as part of a leap from legacy publishing to a digitally led news media operation. This included closing the print and PDF editions of newspapers at the end of their viable life cycle and divesting both logistics operations, M24 Logistics and On the Dot.Napers said Media24’s transition from a legacy print to a digital-first business had a significant impact on its revenue.“The disposal of some non-core print assets negatively impacted revenue. However, profitability improved through prudent cost optimisation,” Napers said.Naspers’ financial results showed that Media24’s revenue in US Dollars, the currency in which it reports its financials, declined by 44% year-over-year. Naspers reported that, in local currency terms, Media24’s revenue over the last six months declined by 38% when compared to the last financial year. The latest financial results continued the downward trend. Over the last three years, Media24’s revenue in US dollars declined from $106 million to $81 million and now $45 million.The latest financial results further revealed that Media24’s adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) were negative $9 million. Adjusted earnings before interest and taxes (EBIT) were negative $10 million. Simply put, Media24 is running at a loss. However, Media24 is on an upward trajectory when it comes to minimising its losses and growing its digital subscribers.In its last half-year results, Naspers revealed that News24 and Netwerk24 had 177,229 digital subscribers. Over the last year, the two publications’ paywall subscribers have shown strong growth, reaching 211,321. The charts below, from Naspers’ latest financial results, show Media24’s performance for the six months ended 30 September 2025.

Media24 revenue declined by 38% over the last year

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Republikein 2025-11-28

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Media24 revenue declined by 38% over the last year

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