Moneyweb explores ways to reverse loss

MONEYWEB intends to capitalise on its new investments in areas such as events and video content in a bid to reverse losses during the year to June.

The media group widened its net loss for the year to June to R4.9m from R3.01m in the previous year. The operating loss was R6.1m and the headline loss was R4.9m.

During the 2015 financial year, Moneyweb invested in a video unit and new digital properties such as The Moneyweb Investor, Moneyweb DRIVE and Property Mogul. It also invested in financial and investment events such as Money Expo.

It said clients were looking for content marketing solutions that were spread across a multitude of media and social network platforms.

“Moneyweb is able to offer clients a fully integrated media solution with the exception of television,” it said.

The group had a difficult trading year, with some significant drops in advertising revenue, especially from mining website Mineweb.com. Costs to create diversified revenue streams increased.

Revenue grew 11% to R28.3m, lifted mainly by video content and content marketing on various platforms, which include events and radio.

“The use of video clips online is continuing to grow as a major source of information consumption,” it said.

Moneyweb increased its airtime on two SABC radio stations and said it expected to see “meaningful advertising returns” in the 2017 financial year.