Media24 takes a knock
South Africa's largest media company, Media24, has reported a decline in revenue and earnings for the year ended March 2025.
This follows the discontinuation of most of Media24's printed newspapers. These included Beeld, Rapport, City Press, Daily Sun, and Soccer Laduma, as well as the digital PDF editions of Volksblad and Die Burger Oos-Kaap.
Parent company Naspers released its financial results on Monday. The global technology giant said it has also divested both its logistics operations, called M24 Logistics and On the Dot.
Media24 realigns media operations
The financial results also stated that the company has realigned its media operations to focus on two digital news brands, News24 and Netwerk24, by closing the digital content hub SNL24, divesting community newspapers and soccer titles, and transitioning the Sunday newspapers Rapport and City Press into digital-only brands, residing at Netwerk24 and News24, respectively.
Naspers stated that Media24 is a leading digital media group in South Africa, with interests in digital news media, magazines, newspapers, book publishing, and television content production.
'It publishes several magazines and two newspapers and reaches 1 million average daily unique browsers, generating 9.7 million average daily pageviews across its digital platforms.'
ALSO READ: Big news play: Media24 sells On the Dot, shifts to digital-first focus
Media24 declines in revenue
The changes have led to a significant decline in revenue and earnings for Media24.
Revenue declined by 17% from $175 million (R3.199 billion) in 2024 to $141 million (R2.577 billion) in 2025.
'Trading results were eroded by the financial impact of the redesign, as well as an investment in foundation-phase schoolbook submissions to the South African Department of Basic Education,' read the results.
Looking ahead
Naspers said Media24 has established a strong base for AI use, with early outputs, enhanced by launching a GenAI circle, training sessions, and editorial workshops, which are focused mainly on back-end operations in its media divisions.
'These ranged from content summaries, translations and transcriptions to creating audiobooks, copy-editing, the creation of visuals, launching the contextual targeting tool Match24 for advertisers, and incorporating an AI-driven 'story sentiment' tracker to enhance brand-safe advertising, all under close human supervision.
'Looking forward to the financial year 2026, we remain committed to the valuable role we play in our society and democracy at large, while building a sustainable future for Media24 as a profitable digital media business focused on content production for news, television and books.'
NOW READ: Media24 sells On the Dot, shifts to digital-first focus
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Herald
a day ago
- The Herald
Managers say Gen Zs are hard to handle, Deloitte says they are misunderstood
While three in four managers consider Gen Z the most difficult generation to manage, Deloitte said they may be misinterpreting evolving work values. The survey revealed that unlike previous generations Gen Z, born between 1995 and 2006, and millennials born between 1983 and 1994 are less fixated on job titles and more focused on learning, balance and purpose. 'Learning and development is a priority and they expect their employers to provide the opportunities. Some have foregone higher education to pursue the practical skills that trade or vocational training provides,' said Deloitte. Though only 6% of Gen Z respondents said their main career goal is to reach a senior leadership position, Deloitte said this doesn't mean they lack ambition as 70% of Gen Zs and 59% of millennials said they're actively building new skills weekly, mostly outside working hours. The report also showed a shift in how the generations view higher education. Nearly one-third of Gen Zs (31%) and millennials (32%) chose not to pursue university degrees. The reasons cited were high costs and doubts about the return on investment. Most said they were leaning into emerging technologies such as generative AI (GenAI) to boost their productivity, with more than half of Gen Zs (57%) and millennials (56%) saying they use GenAI tools daily for tasks such as data analysis, content creation and project management. 'They are largely positive about the technology, saying it improves the quality of their work and frees time to focus on more strategic tasks. However, they also worry it could reduce job opportunities for young professionals,' said Deloitte. Deloitte said career fluidity is becoming a hallmark of the modern workforce as nearly one in three Gen Zs (31%) and 17% of millennials plan to leave their employers within the next two years. Deloitte insisted this isn't about disloyalty. 'Their job hopping isn't driven by a lack of loyalty. They're seeking stability, purpose, work/life balance and opportunities to grow,' said Deloitte.
TimesLIVE
a day ago
- TimesLIVE
Managers say Gen Zs are hard to handle, Deloitte says they are misunderstood
A new global survey by Deloitte has sparked fresh debate about workplace dynamics, revealing many managers and business leaders find Generation Z the most challenging group to work with. The Deloitte's 2025 Gen Z and Millennial Survey, in its 14th year, canvassed more than 23,000 respondents from 44 countries and highlighted a major shift in how younger generations approach work and what they expect from it. 'Gen Zs and millennials are ambitious. However, for them success is not necessarily about climbing the corporate ladder. Many are not motivated by reaching senior leadership positions, revealing a potential leadership pipeline problem for the future,' said Deloitte. 70% of Gen Zs said they're actively building new skills weekly, mostly outside working hours While three in four managers consider Gen Z the most difficult generation to manage, Deloitte said they may be misinterpreting evolving work values. The survey revealed that unlike previous generations Gen Z, born between 1995 and 2006, and millennials born between 1983 and 1994 are less fixated on job titles and more focused on learning, balance and purpose. 'Learning and development is a priority and they expect their employers to provide the opportunities. Some have foregone higher education to pursue the practical skills that trade or vocational training provides,' said Deloitte. Though only 6% of Gen Z respondents said their main career goal is to reach a senior leadership position, Deloitte said this doesn't mean they lack ambition as 70% of Gen Zs and 59% of millennials said they're actively building new skills weekly, mostly outside working hours. The report also showed a shift in how the generations view higher education. Nearly one-third of Gen Zs (31%) and millennials (32%) chose not to pursue university degrees. The reasons cited were high costs and doubts about the return on investment. Most said they were leaning into emerging technologies such as generative AI (GenAI) to boost their productivity, with more than half of Gen Zs (57%) and millennials (56%) saying they use GenAI tools daily for tasks such as data analysis, content creation and project management. 'They are largely positive about the technology, saying it improves the quality of their work and frees time to focus on more strategic tasks. However, they also worry it could reduce job opportunities for young professionals,' said Deloitte. Deloitte said career fluidity is becoming a hallmark of the modern workforce as nearly one in three Gen Zs (31%) and 17% of millennials plan to leave their employers within the next two years. Deloitte insisted this isn't about disloyalty. 'Their job hopping isn't driven by a lack of loyalty. They're seeking stability, purpose, work/life balance and opportunities to grow,' said Deloitte. The survey revealed for the two generations money, meaning and well-being form the foundation of career satisfaction. Deloitte said despite their proactive mindset, Gen Zs and millennials are under significant financial stress. 'Only 36% of Gen Zs and 39% of millennials with cost-of-living concerns said they felt happy over the past year. Eight in 10 said their financial situation contributes significantly to their stress levels.' The survey also showed mental health remains a concern, with just over half rating their well-being as good or very good and up to 40% saying they feel stressed or anxious most of the time, with work a major contributor. 'Gen Zs and millennials feel their managers could do more to address the root causes of stress in the workplace. They want leaders who offer mentorship, set boundaries and support their growth, not only micromanaging tasks,' said Deloitte. The survey revealed Gen Zs and millennials want more than a salary. They're looking for meaningful work or the flexibility and resources to drive change in their personal lives. 'Purpose influences motivation, engagement and job satisfaction. More than half of Gen Zs and millennials said it's very important when evaluating a potential employer,' said Deloitte. The survey results showed around two-thirds have felt anxiety over climate change in the past month and the same proportion said they're willing to pay more for sustainable products. Some are turning down jobs based on a company's environmental policies. Deloitte said the findings should be a wake-up call for organisations stuck in outdated models of work and leadership. 'The results demonstrate the need for senior leaders and managers to create environments where workers can attain the trifecta of meaningful work, financial security and well-being. Supporting the pillars consistently will help retain talent, reduce stress and drive engagement.'
IOL News
29-07-2025
- IOL News
Bankable new hires: How AI is reshaping banking talent
The proliferation of AI in the workforce not only demands embedding AI fluency early, but also, a more strategic approach to developing young talent, says the author. Image: AI Lab Artificial Intelligence (AI) is disrupting every phase of the banking value chain – including, critically, the recruitment of a workforce equipped to navigate its breakneck pace of change while sustaining both current and future business resilience. We're witnessing a paradox in recruitment. While companies rely on AI to filter applications, candidates are also turning to AI to refine and enhance theirs. From autogenerated responses to simulated interviews, technology is influencing both sides of the process. In a country where youth unemployment stands at 45.5% among individuals aged 15-34 years, the proliferation of AI in the workforce not only demands embedding AI fluency early, but also, a more strategic approach to developing young talent. Rethinking Graduate Roles Absa's graduate programme within Corporate and Investment Banking (CIB) reflects this mindset. It's an 18-month rotation through various desks, including research and technical teams, and now includes exposure to AI, which is a growing exploratory area. Our Gen A Grad Programme blends theory, business skills, technical knowledge, soft skills, and on-the-job learning. Two years ago, the bank partnered with a corporate executive training firm to enhance the programme's relevance and introduce an AI component. Today, our graduates work on practical, real-world case studies in GenAI, AI, and data — and the feedback from receiving teams suggests we are on the right track. Receiving teams have praised the diverse and forward-thinking skillsets that these graduates bring. The programme has trained many graduates, equipping them with the tools to lead confidently in a technology-driven financial landscape. Where early-career professionals once gained experience by handling routine administrative tasks, AI now takes care of many of these responsibilities, from notetaking to task-tracking. This creates space for young hires to contribute more strategically from the outset. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ However, it also raises the bar: employers must ensure that graduates are equipped not only with technical know-how but with a critical understanding of how to use these tools effectively, ethically, and responsibly. At the same time, digital inequity presents a real challenge. Not all graduates have access to advanced AI tools, reliable internet, or exposure to the systems they'll be expected to use in the workplace. Left unaddressed, this divide creates a two-speed workforce. Graduate programmes must account for this gap and provide equal opportunities for all entrants to thrive. Authenticity and Ethics in an AI-Driven Talent Landscape As we accelerate digitisation, we must remain committed to human-centred hiring. Applicants want to be seen for who they are, not simply how well they navigate an algorithm. Similarly, employers want to attract real talent, not just those who know how to game AI-powered systems. That's why it's critical to establish clear standards around the ethical use of AI in recruitment. Creating a culture of ethical AI use starts early. This goes beyond compliance; it's about shaping habits and values from the outset. Young professionals should be encouraged to question the tools they use, understand AI's limitations, and be confident in their own voice. On the employer side, transparency and consistency are vital, along with providing support for responsible AI engagement across all levels of experience. Technical expertise – like coding in Python or Java – is still important. But so are softer skills like adaptability, digital storytelling and data ethics. Future-ready professionals will be those who combine technical fluency with a clear sense of accountability and social impact. Build with People, Not Just Technology The future of banking isn't just digital. It is also human. To navigate AI disruption effectively, banks must prioritise people-first transformation. That means building graduate programmes that mirror the pace of change to fully meet the moment. It also means crafting upskilling strategies that blend theory with application, and most of all, creating environments where innovation thrives. We don't yet know exactly what the AI-era bank will look like in 10 years. But we do know it will be built by people who understand technology, adapt with agility, and bring purpose-driven thinking to the table. Marsha De Wet is the Global Markets Chief Operating Officer at Absa CIB. Image: Supplied Marsha De Wet is the Global Markets Chief Operating Officer at Absa CIB *** The views expressed here do not necessarily represent those of Independent Media or IOL BUSINESS REPORT
