By Charles Lee Mathews. The South African news media is facing an existential threat. Declining advertising revenue and the shift in media spending to global tech giants such as Google and Meta have pushed once-thriving publications to the brink of collapse.
For brand owners, media planners and buyers, this is more than just an industry challenge — it’s a crisis that affects governance, economic stability, and the transparency necessary for a functioning democracy.
Rob Rose, founder of business news outlet Currency, and Adriaan Basson, editor-in-chief of News24, warn that South Africa’s media landscape is increasingly fragile. Without stronger advertiser support, important media brands will disappear, undermining democracy and economic transparency.
A looming news apocolypse
“The news media is absolutely under threat because of a lack of advertising,” says Rose. “Companies — and the wider business fraternity — do not understand how fragile the media landscape is and how close to collapse the large media houses really are.”
According to Rose, this crisis manifests in two ways: publications either shut down entirely or struggle to operate, unable to inform society or hold power to account. “Some of the best journalists have already left for corporate jobs. In the next five years, I anticipate we’ll see some large media brands fold entirely,” he predicts.
False economy — the shift to Google and Meta
Basson highlights the dramatic shift of advertising spend away from news publications: “In the past, banks, mobile networks, and retailers were the cornerstone of our advertising revenue. Now, most of that money goes to Google and Meta.”
He also challenges the misconception that news environments are “too negative” for brands: “For centuries, the most successful companies advertised alongside stories about politics, crime, and corruption. Readers are smart enough to distinguish between content. Social media platforms today are far more toxic than regulated news publications.”
Some advertisers, he warns, are deliberately avoiding news platforms for misplaced reasons. “This is dangerous. Fewer publications and journalists mean more corruption and poor governance. Without properly funded media, service delivery failures will go unchecked.”
Economic impact of a weak media
A weak media landscape doesn’t just threaten democracy — it hurts the economy. Rose points to a 2021 study by Australia’s RMIT and Swinburne universities, which found that countries experiencing a decline in press freedom saw a corresponding 1%-2% drop in real GDP growth. “That’s the tangible cost of failing to invest in media,” he says.
Business journalism, in particular, plays a vital role in fostering market confidence and exposing unethical behaviour. “Without robust reporting, scandals like Steinhoff, Tongaat Hulett, VBS Mutual Bank, and the Gupta Leaks might never have been uncovered. A feeble media allows criminality to be swept under the rug, enabling unchecked power and economic inefficiency,” warns Rose.
Financial literacy is another major concern. “South Africa’s financial literacy is alarmingly low — only 51% of the population is financially literate, according to the FSCA regulator,” he says. “The business media is essential in explaining financial concepts, from pension structures to savings strategies. Without it, voters remain uninformed, electing leaders who implement economically damaging policies.”
Advertisers must take responsibility
Rose and Basson agree that advertisers and agencies have a critical role in sustaining the media industry. However, Rose argues that decision-making has been outsourced to agencies that lack an appreciation for the broader social implications: “CEOs understand the value of news media, but ad spend decisions are made by third parties who do not.”
Basson urges media buyers to recognise their higher purpose: “Beyond delivering profit, brands have a duty to invest in democracy. A well-funded media landscape benefits companies, the economy, and society as a whole.”
Rose adds a stark warning: “The media you rely on to keep you informed and expose corruption may not be around much longer. Many brilliant journalists have already left the industry because their publications could no longer afford them.”
A call to action for media planners and buyers
The crisis facing South African journalism is not just a media industry issue — it is a societal failure. By diverting advertising spend to digital giants while neglecting local news outlets, brands are inadvertently weakening democracy, enabling corruption, and undermining long-term economic stability.
Brand owners and CEOs must actively ensure their ad spend supports a free and independent press. For media planners and buyers, the message should be clear: supporting trusted news brands is not just about brand alignment; it is an investment in the future of South Africa’s democracy and economy. The stakes couldn’t be higher, and action is needed now.
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