JOHANNESBURG, May 6: Farmer’s Weekly, a magazine that has been published in South Africa for over a century, could become the most high-profile victim of widespread decisions by a range of media houses to stop publishing titles.
Caxton & CTP Publishers & Printers Limited announced on Tuesday the decision to stop publishing at least 10 of its magazine titles, including Country Life, Essentials, Food & Home, Garden & Home, Rooi Rose and Bona.
Bona has been published for over 60 years, catering to the huge black African market, which makes up the majority of South Africans, while Rooi Rose (Red Rose in Afrikaans) has been a staple of the white community since 1942.
But the company says it will try to rescue the century-old Farmer’s Weekly and another popular title, Living and Loving, by talking to other publishers where they see synergies.
“The significantly reduced levels of revenue exacerbated by the potential long-term impacts of the COVID-19 (pandemic) combined with reducing circulation numbers are insufficient to sustain the business in the short and long term,” Caxton said in a statement.
Caxton is the second South African media house in as many weeks to shut down titles.
Last week, another major media house, Associated Media Publishing, closed shop, also citing financial constraints deepened by the lockdown caused by the COVID-19 pandemic.
Media analysts said the writing had been on the wall for print media for years now due to a hugely reduced advertising spend as the reach, immediacy and cost of electronic media became increasingly more attractive.
Revenues from sales of magazines and newspapers have also been steadily declining as readers increasingly opt for other media.
Newspaper houses have also felt the double whammy of the COVID-19 lockdown and consistent downgrade of South Africa’s investment status by ratings agencies for the past three years.
Most of the major newspaper groups have reduced staff and implemented salary cuts for those who have been retained to produce dailies and weeklies, which are sometimes less than 20 per cent of their earlier editions. (PTI)
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