Media24 revenue declined by 83% since 2016

Naspers’ financial results for the year ended 31 March 2026 revealed that Media24 generated $102 million over the last year, down 83% from 2016.

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, last year, Media24 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.

In its latest annual report, Naspers said that Media24 is transitioning to a technology-driven business.

It consolidated operational divisions into three verticals, Media, Books, and TV, while reviewing the suitability of its technology architecture for a digital-first business.

It said that it achieved solid trade sales at Jonathan Ball Publishers, including NB Publishers.

Media24 also launched the first of its differentiated product ranges, providing access to The New York Times content for subscribers to all its main digital publishing platforms.

It progressed to the first phase of personalising content on both News24 and Netwerk24 and building a tool for AI-driven contextual advertising.

Media24 further collated its food content archive across all brands for the Netwerk24 + Kook app and implemented a new content management system.

The company has embedded the use of artificial intelligence (AI) throughout its content-producing divisions.

“There is also an intense focus on a lower cost base across the group,” Naspers said regarding Media24’s operations.

Media24 revenue decline

Last year, Naspers 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,” Naspers said.

This continued in the 2026 financial year. Revenue declined from $141 million to $102 million over the last year.

Adjusted earnings before interest, taxes, depreciation, and amortisation (aEBITDA) declined from -$10 million to -$16 million.

Adjusted earnings before interest and taxes (aEBIT) declined from -$15 million to -$19 million over the last year.

The decline in Media24’s revenue and the impact of a changing media landscape are clearly evident when comparing its financial results from 2016 to 2026.

In 2016, the company generated $608 million in revenue and $52 million in earnings before interest, taxes, depreciation, and amortisation.

Over the last decade, revenue declined by 83% to $102 million, and EBITDA declined by 131% to -$16 million.

It should be noted that the revenue decline is not only due to operational issues. It included the disposal of many revenue-generating business units.

The changing media sector, which placed significant pressure on print publications, also took its toll on Media24’s employee numbers.

The number of Media24 employees declined from 3,848 at the end of the 2017 financial year to 1,194 at the end of the 2026 financial year.

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Media24 Revenue

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Media24 EBITDA

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Media24 Employee Numbers

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