Music magazine Vibe is discontinued
The renowned music magazine Vibe has been discontinued after 16 years. The collapse of the capital market is cited as the main reason.
The current crisis in the US print media landscape has claimed its next prominent victim. After the renowned Forbes Magazine recently admitted that it would have to tighten its economic belt in future, the next horror story is already haunting the US media industry. According to Pressetext.ch, the renowned music magazine Vibe, which has been discontinued after more than 16 years, is at the center of the uproar. "It is with a heavy heart that I have to share some bad news with you. Vibe magazine will cease publication on June 30," writes Steve Aaron, CEO of the magazine, which is regarded as the "black edition of Rolling Stone", in an email to his own staff that has since been published by US media.
Aaron cites the collapse of the capital market as the main reason for the closure. "Over the past few months, we have very actively tried to exhaust all available investment resources and worked very intensively with our bank to find a solution. However, the situation on the market is currently very poor and the closure has ultimately become unavoidable," explains Aaron. The slump in the advertising business has hit the music magazine particularly hard. Core advertising customers such as the automotive and fashion industries, which had previously brought in the majority of sales, had jumped ship after the row.
Aaron cites the collapse of the capital market as the main reason for the closure. "Over the past few months, we have very actively tried to exhaust all available investment resources and worked very intensively with our bank to find a solution. However, the situation on the market is currently very poor and the closure has ultimately become unavoidable," explains Aaron. The slump in the advertising business has hit the music magazine particularly hard. Core advertising customers such as the automotive and fashion industries, which had previously brought in the majority of sales, had jumped ship after the row.
