“... the unexpected and devastating impact of Covid-19
, causing the closure of printing and distribution channels, the global halt on advertising spend, as well as the inability to host events for the foreseeable future, have made it impossible to continue trading — despite large amounts of personal funds having gone into AMP,” says CEO of publishing company Julia Raphaely.
The publication is one of many within the print industry that will be impacted by the current pandemic, according to the team at Target Media Directory. The team says that, at the current moment, many media houses are uncertain about the future, and with no direction in terms of what’s to come, all they can do is take change as it comes.
“Permanent change has now been forced by lockdowns brought on by Covid-19
, with many media houses across the world, and here in South Africa, facing demise,” says Adri Senekal de Wet, contributor at IOL.
“The future of many industries is uncertain
. AMP is currently dealing exclusively with trying to minimise the negative financial implications this terrible outcome will cause to creditors and staff,” she says.
AMP was launched in 1982 by Jane Raphaely, who aim to set an example of how a strong woman can lead a successful business. Her daughter Julia took over as CEO in 2010.
The publishing house has been providing South Africa with magazines for almost 38 years now, and their entire stable has played a role in numerous households around the country. However, the publisher says that it struggled to make ends meet in terms of advertising and other difficulties brought on with the lockdown.
“All print media had been moving to digital for some time
, but struggled to make it work financially because advertising worked very differently in digital media,” says Anton Harber, professor of journalism at Wits University Caxton.
“While the media is facing stress from every direction, there does seem to be hope for online publishers.”
According to a previous media update
article, “While the pandemic is putting huge pressure on newsrooms
, journalists and distributors, there is one sphere of the industry that has greatly benefitted from the crisis: online news channels.”.
“It seems that going digital might be the best way to survive during this time, but with one door closing, who knows how many new doors will open. Remember, there is always a light at the end of the tunnel,” concludes Target Media Directory.
For more information, go to www.targetmedia.co.za.
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