Urban music entity, VIBE Magazine has been struggling financially for the past four years now. In 2009, they had to cut back on employees, circulation, and more to try and save money to stay afloat. When the recession hit, the magazine saw a lot of it’s ad revenue depleting. They eventually managed to make a comeback due to private investors. And they have been hanging in there for a while now but it seems like they finally had to throw in the towel. Word hit the net a couple of days ago that the legendary magazine and it’s affiliate brands (Vibe.com & Vibevixen.com) were acquired by media group SpinMedia. Chief executive of SpinMedia, Steve Hansen, is excited about the purchase and promises that his company will do all they can to retain VIBE’s essence and increase their online presence. Which is great for the digital makeup of the company.
However, people fear for the print life of the notorious magazine. SpinMedia purchased another major media outlet, Spin Magazine last Summer and ended up shutting down it’s print operation and letting go of a healthy portion of it’s staff members. Hansen maintains that they plan on reviving the print version of Spin Magazine but they have to find a fruitful way to be just as successful as the online media markets first. VIBE was founded in 1992 by music icon Quincy Jones and company Time Warner. The magazine has been around for a grand total of 21 years and is a staple in both the R&B and Hip-Hop communities.
**My Two Cents: I’ve been following VIBE and their crisis for a while now. I was rooting for the publication and was happy when they had managed to bounce back. I’m not a huge reader of the magazine but I respect what they have done for urban music over the years. I am hoping that SpinMedia keeps their word and does right by the magazine. It would be a shame to see it go under completely or lose it’s quality. Not to mention, my heart always goes out to any Journalist that loses their job. It’s not an easy field to prosper in, so when you find a good position, it’s worth holding on to. Much love to Quincy Jones for his 21 years in serving the music community through the media outlet and websites. -MinM