BUSINESS NEWS
Moneyweb to boost TV content
The company aims to obtain traditional advertising spend and production budgets for television
Moneyweb will invest more money in its video production unit to produce TV content as the media company diversifies to find new revenue streams. The company, which provides online, print and radio business news, said on Friday it aimed to obtain traditional advertising spend and production budgets for television. Moneyweb is expecting further opportunities in radio after renewing its contract with the SABC for three years. This may see Moneyweb extend airtime to more radio stations owned by the public broadcaster. Moneyweb’s focus on new growth areas is starting to pay off. It generated revenue of R17.04m for the six months to December 2016. Net profit was R342,000 from a loss of R3m. The turnaround was attributed to increased revenue from video production, events and more airtime on SABC radio stations. However, digital revenue declined slightly due to less advertising in the mining sector and the investor relations market.
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