Vibe Magazine to Shut Down Immediately

Vibe Magazine to notify staff today

Music-centered publication Vibe Magazine has announced it will cease publication and close down immediately. The publication, like most other U.S. publications, has seen its advertising revenue fall.

A spokeswoman for Vibe Magazine said the staff would be informed of the closure today. Vibe Magazine was one of two large, popular music magazines in the U.S. that focused on hip hop, R&B and rap. Now, The Source is the only remaining nationwide hip hop and R&B magazine.

Why is Vibe Magazine closing?

It seems Vibe Magazine’s situation is all about the money now. Much like rock magazine Blender last year, the announcement that Vibe Magazine would close came suddenly. There was some indication that the magazine was in trouble, as it had previously decreased its circulation and moved employees to a four-day workweek. The New York Times reports:

In a memo to staff members announcing the closure, Steve Aaron, chief of the Vibe Media Group, wrote that for months, the company tried in vain to either find new investors or “to restructure the huge debt on our small company.”

“The print advertising collapse hit Vibe hard, especially as key ad categories like automotive and fashion, which represented the bulk of our top 10 advertisers, have stopped advertising or gone out of business,” he wrote.

Vibe Magazine online

Quincy Jones and Time Warner started Vibe Magazine in 1993.

Vibe Magazine changed hands back in 2006. It was originally started by Quincy Jones and Time Warner in 1993. However, the magazine was sold to Wicks Group in 2006.

There is no word on what will happen to Vibe Magazine’s web site. Many large publications that have stopped printing still maintained an online component. Blender Magazine still maintains its web site and covers music. Many daily newspapers around the country have gone the same route.

Vibe spinoffs

Besides publishing the monthly magazine, Vibe has published books on hip hop and R&B as well. For a few years, Vibe Magazine put out a sister publication called Vibe Vixen, which focused on females in hip hop and R&B. That publication only lasted from 2004 to 2007.

Vibe Magazine also has held the annual Vibe awards since 2003. One year ago, Vibe Magazine held the Greatest Rapper Alive contest. The crown went to Eminem, who won based on reader votes.

More later

The Washington Post also reports that it’s unknown whether Vibe Magazine’s web site will be preserved, but more information will be in by the end of the day. As of right now, the web site is still functional and reporting current news. Hip hop and R&B coverage rival, The Source, already went through bankruptcy restructuring last year.

Also unknown is how many jobs will be affected. Vibe Magazine told advertisers in February that circulation would be reduced in July from roughly 800,000 to 600,000. During the last half of last year, Vibe Magazine reported a circulation of 818,000, but advertising revenue has fallen as the economy has been in turmoil. Many advertisers have turned to internet advertising rather than print. The music industry as a whole has also seen profits fall.