More bad news for publicists, musicians and journalists today as Daily Finance reports that "editor in chief Danyel Smith and publisher Edgar Hernandez confirmed" that Vibe magazine will be ceasing publication. No further details at this point, except that Kanye's beard still looks gray. This is all some Benjamin Button's shit. (VIA)
Tuesday, June 30, 2009
Vibe Magazine Closing
More bad news for publicists, musicians and journalists today as Daily Finance reports that "editor in chief Danyel Smith and publisher Edgar Hernandez confirmed" that Vibe magazine will be ceasing publication. No further details at this point, except that Kanye's beard still looks gray. This is all some Benjamin Button's shit. (VIA)
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Hearing this news just re-enforces the ever evolving tragedy within Black Media.
A publication of this stature and size was guilty of one thing, not keeping up with the changing media platforms. Even with the recession and declining print media ad spend, Vibe was in a unique position to capitalize on its broad base, however, like many of their counterparts, they chose a different path. A path that did not expand its reach beyond their print borders to other platforms enabling them to re-connect with life long readers and encourage new subscriber base.
It was sad when Vibe was sold to a private equity firm and its even more sad to hear that they are going to cease operations. A movement has to start now or Black Media as we know it may become extinct.
In my opinion next on the clock is Radio One unfortunately, they are burden with a heavy debt load, variety of media outlets that are bleeding red, and a struggling TV Network joint venture. When Radio one had access to some free capital they chose to buy Blackplanet.com instead of paying down their debt. Poor decision making such as this examples shows and a stock price under $1.00, it is now only a matter of time before the closed sign is turned on for them.
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