NMG profit falls 94% from Sh. 856 million to Sh. 48 million

[Mzee_mzima]

@Jimit

Vipii Mzee Mjinga? Umepata bundles eeh?

Discipline kijana, naingia huku 30th kama mshahara. Sina time ya kubishana na akina @Azor Ahai about the same old topics of the last decade.

[Azor_Ahai]

@Mzee mzima

Discipline kijana, naingia huku 30th kama [COLOR=rgb(226, 80, 65)]mashiro. Sina time ya kubishana na akina @Azor Ahai about the same old topics of the last decade.

[Jimit]

@Mzee mzima

Discipline kijana, naingia huku 30th kama mshahara. Sina time ya kubishana na akina @Azor Ahai about the same old topics of the last decade.

Impressive. I’m impressed. Although I’d admit that’s largely due to your cynical portrayal of Azor Ahai.

[kah_tony]

@Mzee mzima

This is a company in Thailand.

Kijana. Kumbe bado uko huku. Tuma number nikutumie pesa ya soda.

[MkenyaDaima23]

@Hmmmmm

Hakuna venye tunaweza short stocks za hii kampuni tukafunge.

You can only go LONG kwa stocks listed on the NSE .

[Hmmmmm]

@MkenyaDaima23

You can only go LONG kwa stocks listed on the NSE .

Nimejua leo

[Hmmmmm]

@MkenyaDaima23

You can only go LONG kwa stocks listed on the NSE .

Nimeangalia apparently hakuna any derivatives market kwa NSE

[eddy_mahelo]

NMG should have used their superior media position to pivot into other e-media businesses …
the problem with these huge corporates is that they get too comfortable to change…

[MkenyaDaima23]

@Hmmmmm

Nimeangalia apparently hakuna any derivatives market kwa NSE

Unaeza trade futures NSE lakini to get a seat on the trading floor goes for around 200 k ,I don’t know if they have adjusted the prices though, overall NSE bado wako nyuma sana compared an other exchanges, one cannot short, one cannot trade on margin, registration is a nightmare, they don’t support day trading , broker fees iko juu sana. I hope they change, this can be an avenue for massive employment and wealth generation they way NYSE and NASDAQ has been to Americans.

[Dunya]

@Smith_

Massive dip attributed to declined revenues from advertising due to the pandemic.

Revenue shrunk from Sh. 9 billion in 2019 to Sh. 6.8 billion. Net assets fell in value from Sh. 12.1 billion at the end of 2019 to Sh. 11.82 billion at the end of 2020.

The media house has been digitizing its products and has already launched paywalls to boost revenues. Its flagship paywall currently has a reported 50,000 paid subscribers.

NMG has been on the decline for many years now. Profits have been tanking since 2013, which was their peak.

Part of the reason is the digital disruption brought about by the internet and its impact on the consumption of traditional print, radio and TV media. This has affected all traditional media houses across the world.

Secondly, NMG’s BOD is notoriously composed of myopic old wazees who are resistant to change. Board chairman Kiboro famously quipped that his grandson has no time for the paper and traditional news consumption. Shortly thereafter, he commissioned a sh2bn expansion of the Msa Rd printing press. You might also remember NMG pioneering products like N-Soko (before OLX) and Nation Hela (before e-commerce really took off). But the products never got wings because they were not given the full backing to grow and the right teams. Look at KTalk. Instead of outrightly fighting Mandazi Moto, they should have realized that yenyewe, there’s demand for ePapers but not at that current pricing. They should have approached the same market with same content but at very affordable, if not rock bottom prices. Right now every Kenyan who read gazetis would have been rocking their ePaper app (kaching!!!) but in that period, Kenyans found a myriad of other ways of getting their news.

Another tragedy for NMG is that they have never gotten it right with Radio. Nation FM, Easy FM, QFM etc have NEVER made any return for NMG in 20 plus years and at some point NMG were even contemplating closing Nation FM altogether. However, radio is KING in Kenya as evidenced by RMS, Radio Africa etc.

Finally, NMG has been having struggles with the State in recent years and any business in such a position here in Kenya is doomed. It started with them fighting the Digital Migration in Feb 2015. NMG, with all their might, did not even bother to make a decent application to be the Digital Licence Distributor coz they were fighting the change rather than embrace inevitability which had finally come. NMG is also a direct competitor to Mediamax, owned by the President’s family, who print a free newspaper that directly hits NMG’s DN, it’s main cash cow. Govt also decided to print its own paper (MyGov) and not commit to clear hundreds of millions of NMG advertising debt accrued over years.

That fighting of the digital migration was the dumbest move

[Ubongo]

Change is sometimes quite painful

[Mjuaji]

There’s still room to grow in TV but they would have to get out of Nairobi.

[girlciki93]

@Mjuaji

There’s still room to grow in TV but they would have to get out of Nairobi.

TV is being replaced by Mobile.

[system]

Biashara zingine weh, yani from revenue ya 6.8 B you make 48m? that’s 0.007 % close that shit

[Mjuaji]

@girlciki93

TV is being replaced by Mobile.

Mobile TV is still TV.

[YuleMseeMbaya]

@Mjuaji

There’s still room to grow in TV but they would have to get out of Nairobi.

Not even getting out, they should start bringing interesting content and pay good money for good TV content. You wonder how in this century you can expect the best content is inspekta Mwala in Citizen TV, Churchill show, etc while Netflix are spending a lot of money to create and buy major TV series. Even DSTV Maisha Magic is airing very good Kenyan TV series and Movies, while local TV is stuck with inspekta Mwala, Tahidi High

[Masgwembe]

Yaani kinyozi na gymn in America are making more money than the once venerable NMG.

[Pesa_connect]

@YuleMseeMbaya

Not even getting out, they should start bringing interesting content and pay good money for good TV content. You wonder how in this century you can expect the best content is inspekta Mwala in Citizen TV, Churchill show, etc while Netflix are spending a lot of money to create and buy major TV series. Even DSTV Maisha Magic is airing very good Kenyan TV series and Movies, while local TV is stuck with inspekta Mwala, Tahidi High

…and looong unnecessary breaks

[Lyapunov_v]

@YuleMseeMbaya

Not even getting out, they should start bringing interesting content and pay good money for good TV content. You wonder how in this century you can expect the best content is inspekta Mwala in Citizen TV, Churchill show, etc while Netflix are spending a lot of money to create and buy major TV series. Even DSTV Maisha Magic is airing very good Kenyan TV series and Movies, while local TV is stuck with inspekta Mwala, Tahidi High

Very true they opted for paywall rather than freemium and it will be there downfall. Google and Facebook are great example of freemium model where they offer their services for free in exchange for your private information which they sell to advertisers hence make billions. People aren’t much concerned about their privacy esp when you present with a long worded consent form to accept, they just scroll down and accept T&C. Paywalls work of the service or content is really really great such as the likes of Spotify.
However, NMG content is old, full of politics nothing worth your time. Their TV shows are just next to what KBC offers. YouTube is even worth your time esp if you use adblocks. Netflix content is way better then there is CBS and the rest.

[kanini_kaseo]

they will recover, their online investments are pretty solid, they are on the right path