The Print and Digital Publishing Media Industry in South Africa 2024

This report on the print and digital media industry includes information on major publishers and printers, circulation figures, top online publishers, size and state of the industry, key trends, environmental issues, technology and innovation, competition, and barriers to entry.

There are profiles of 24 companies including major publishers such as Media 24, Caxton & CTP, Arena, and Independent, and specialised publishers such as Technews Publishing, Medical and Pharmaceutical Publications and IT Web.

Introduction

• The print and digital media industry has undergone significant changes with the loss of audiences and revenue for the former and growth of the latter.
• Between 2019 and 2023, circulation of newspapers and magazines plummeted.
• The number of users in the electronic publishing magazines, newspapers and books market has grown significantly.
• Large content-generating print companies, such as Media24, Caxton & CTP, Arena, and Independent Media, have established an online presence using a mix of paid and free content.
• There appears to be a trend to move away from news content on platforms such as Facebook, Google, and X.
• The next battleground is that of generative AI and the role it could play in content development.

Key Market Trends

• An increase in the number of households with internet connectivity enabling greater access to digital media.
• Broadcast TV and radio likely to keep largest audiences.
• Declining newspaper and magazine circulation.
• The large news print media companies are likely to retain their dominance albeit in a smaller print market.
• The shift of advertising spend to digital platforms looks set to continue.

Opportunities

• Growing potential users of online media with the increased number of households with internet connectivity.

Challenges

• Acquiring and retaining professionals in print media.
• Continued dominance of local large media companies limiting media diversity.
• Further disruption of the industry from new technologies such as programmatic advertising and generative AI.

Market Outlook

• The decline in print media circulation is not abating, but many consumers still prefer to read printed books and magazines, which may support growth, or at least limit the pace of the decline.
• A continued decline in newspapers, consumer magazines and books spend is expected, while spend on internet advertising is expected to rise.
• Print media is finding it challenging finding sustainable business models.
• If the trend of big tech companies deprioritising news content continues, news organisations will have to strengthen their online operating models to reach audiences directly and augment revenue streams beyond news subscriptions.