admin
Zimbabwe Newspapers posted a US$635 000 profit for the five months to May 2015 on the backdrop of improved technologies that cut costs.
While print media is still relevant in the current dispensation, Zimpapers chief executive Mr Pikirayi Deketeke noted that digital media is playing a crucial role in improving the company’s visibility and providing a new market.
According to Mr Deketeke, digital media now contributes at least 3 percent to the group’s total revenue, up from 1 percent in the same period last year.
“The best performing is our mobile news and is sitting on a subscriber base of over 300 000. In terms of cost, you do not have ink or newsprint, it is content that we are already generating,” he said on the sidelines of the group’s Annual General Meeting in Harare today (Tuesday).
However, Mr Deketeke added that digital revenue contribution could still be improved by setting up proper operating structures.
He said the group is currently facing challenges with telecommunications companies over the paywall system.
Among the group’s digital platforms are Sports Zone and BH24, which provides prime business news.
Digital media provides easy access to news content through use of mobile devices and evades costs incurred in print media.
The group also expects profit for the six months to June to increase to US$1, 1 million.
Zimpapers is the country’s largest and only listed media group.
Online Reporter