There is not a corner of South African business life that the six-week lockdown has not adversely affected – and the country’s media landscape is no exception to this rule.
Still, the reports received last week that due to the coronavirus pandemic, well-established magazine titles have folded up for lack of business have shocked the publishing sector in the country.
The affected titles, under the House of Caxton & CTP Publishers & Printers Limited, are Woman & Home, Farmers Weekly and Bona magazines which have been in existence for decades.
Unfortunately, this existence in the current unfavourable atmosphere of the pandemic and lockdown visited upon the country’s economy has proved to be unsustainable for even well-established magazine business ventures, according to the publishers.
In deciding to stop publishing, these widely read and much-loved magazine titles, Caxton’s directors said “a reduction in advertising spend as well as the decline in circulation revenues have significantly reduced the viability of the magazine business.”
The South African media industry also woken up to shocking news last week that independent media house, Associated Media Publishing (AMP), had thrown in the towel after nearly 40 years of success in the magazine business.
APM, as expected, blamed the impact of the coronavirus pandemic and the lockdown as the coup de grace for the company as a viable business.
With some of the “oldest, very important and venerable titles,” APM published widely read magazines such as Cosmopolitan, House & Leisure, Good Housekeeping and Women on Wheels, whose main contents were to empower women.
APM chief executive Jane Raphaely launched the publishing firm in 1982.
She played a pivotal role in magazine publishing and female empowerment in South Africa before handing over the business to her daughter, Julia.
Julia Raphaely took over the helm from her mother during the last turbulent decade, transforming the company to meet challenges the entire publishing industry was facing.
Although every effort was made to achieve continued success, the unexpected and devastating impact of COVID-19, made it impossible to continue trading, despite large amounts of personal funds being pumped into AMP’s operations, Julia Raphaely noted.
Commenting on the development, journalist and media expert Anton Harber said the COVID-19 pandemic was in fact “the final nail in the coffin for the already struggling publishers.”
“I think we saw a three or four-year horizon for these magazines’ existence – but the pandemic has accelerated things,” said Harber, an adjunct professor of journalism at the University of Witwatersrand in Johannesburg.
The expert acknowledged that South Africa’s magazine industry has been in decline for some years due to the impact of the internet, with its mainly free online reading content.
Raphaely noted that the closure of the printing and distribution channels, the global halt on advertising, as well as the inability to host events for the foreseeable future were the most telling indicators that there was no long post-Covid-19 life for magazines, she said.
“Shutting the company down was the most difficult decision I have ever had to make. As one of South Africa’s leading publishers, APM’s titles have been part of many people’s lives,” she said.
She added: “It’s a big blow for magazine media brands in South Africa as they hold a special place in our country. We never thought this day would come, but we are left with no choice.”
The closure of the popular magazine publishers was not only a painful pill to swallow for the publishers themselves but also the loyal readers of the publications.
“Such sad news! I grew up reading Cosmo as a teen – AMP have been part of my life for over 30 years!” tweeted Kirsten Veenstra, an avid magazine reader.
“Really sad. Cosmo and House and Leisure, in particular, have been magazine institutions in South Africa,” notes another reader.
Analysts fear that the effects of the pandemic will not be confined to magazines sub-sector but to the entire publishing industry, in particular the daily and weekly press whose survival depends on advertising revenue.
It remains to be seen how South Africa’s media sector will respond to the challenges posed by the COVID-19 pandemic.
NM/jn/APA