The Standard Media Group has announced a half year net loss of Sh133 million. Covering the first six months of 2025, this half year net loss was larger than the Sh111.6 million net loss that the troubled media company recorded in the same period the previous year.
In the first six months if the year under review, the company saw its revenue drop by 24.7 percent to Sh789.2 million. However, total assets increased by 1.4 percent to Sh3.9 billion.
The company has blamed the net loss on reduced revenue from advertisers and government contracts which it says have slowed down.
“Total revenue declined 24 percent year on year primarily due to slowed government contracts and reduced advertising revenue. A government debt backlog exceeding seven years further limited our operational flexibility,” the company stated.
The Standard Media Group has been struggling financially over the past couple of years. In the full year 2024, the company returned a net loss of Sh1.1 billion.
This loss came in a financial year that saw the troubled media house record a revenue decline of up to 22.6 percent to Sh1.8 billion.
That financial year, the media house attributed the decline in revenue on reduced government spending and low advertisement business from corporate customers.
“The Group experienced a 23 percent decline in revenue compared to the previous year, largely due to decreased activity from advertising and partnership clients as well as government contracts. Many companies, grappling with tough economic conditions, have reduced their marketing budgets to allocate resources to more critical operational needs, directly affecting our revenue,” the company had stated.
“Reduced audience engagement with legacy media platforms in 2024 further intensified these challenges. Government debt exceeding seven years has also hindered business operations, complicating efforts to adapt to changing market demands.”
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