So We Said Thank You for the Music Week
The definitive trade mag for the music industry, Music Week, is firing journalists both online and offline and, according to Press Gazette, running without a news desk - which is tough for a news weekly! The title is loss making. How the mighty has fallen.
In the late nineties Music Week spawned early online consumer music web property dotmusic. It couldn't find an economic model, refusing to play dirty by allowing downloads, and was sold by United Business Media for chips. A missed opportunity for sure.
Having tried unsuccessfuly to sell the trade mag a couple of years ago, CMPi now finds itself with no profit in the magazine and no online business either.
Is this the future for business magazines, revenue collapse, cut costs, run out of profit, fire the remaining journos and then close the magazine. Grim.