NUUS
The 5 letters, dash and 2
numbers that pushed print
media over the edge
Covid-19 has brought about many unprecedented changes in our lives over the past few
weeks with lasting effects on individuals, families, companies, industries, countries… in
fact globally.
Johan Le Grange
Manager: Corporate Brands
THE EFFECT OF THE LOCKDOWN
The devasting effect of the lockdown on
the media industry is evident in smaller
print-runs, distribution challenges, salary
cuts of up to 45%, estimated jobs lost
in the entire value chain amounting to
700 people, media houses announcing
closures and reduction in advertising
income which vary between an estimated
40% to 100%. A recent survey amongst
276 freelancers showed that they also
weren’t spared with results indicating that
60% lost up to 70% of their income.
Economists have predicted that the
economy will shrink by at least 6%
and 16% in the worst-case scenario,
which could be the biggest economic
contraction in South Africa’s history. The
fact of the matter is that online advertising
is not bridging the gap for the loss in print
advertising revenue and subscriptions yet
and everyone is scrambling for new ways
of sustaining themselves.
THE UPSIDE
Since the outbreak, the demand for
accurate news from credible sources,
online and in broadcasting, increased
significantly. According to the report
released by the South African National
Editors’ Forum (SANEF) on 1 June, news
websites experienced a 72% increase
and 44% growth in unique browsers
during March 2020. “Many news websites
saw double-digit growth in their audience
numbers, with News24, Business Insider,
The Citizen, Fin24, SABC and EWN
growing their traffic by more than 50% in
March.”
The resulting impact on the industry
at large is that everyone is open to new
solutions that are digitally-led, a shift
in how, when and where we consume
media. This change brought about the
perfect opportunity to stop and realign
and evaluate what we see as important
and how we will, going forward, focus
on adding value for our readers and
customers as a stakeholder group.
It is often said ‘do not waste a good
crisis’, hence we are seizing the
opportunity to adapt to the ever-changing
environment, be first movers in our
industry, work smarter, faster and remain
relevant to our faithful readers.
The Senwes Scenario will, for the next
couple of editions, be available in a digital
format and distributed by means of email
and WhatsApp. The magazine will also be
published on our digital platforms.
For our advertisers, this change
is also the bearer of good news as
our magazine’s advertising rates are
reduced by more than 50% to counter
the cancelled print-run. These changes,
therefore, aim to accommodate budget
cuts and ensure that our readers can stay
up to date with your latest product and
service offerings.
There is also exciting news on the
horizon… a new format that promises
a better user experience, altered news
consumption methods, in-time news
articles and conveniently selectable
topics. We will keep you posted.
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SENWES SCENARIO | WINTER 2020