Spin Media, previously known as Buzzmedia, is the owner of over 40 web sites which includes Just Jared, Celebuzz and Concrete Loop. Their websites are targeted to those people who love pop culture. Last year, Spin Media purchased Spin magazine which ended the printing of their magazine. They also lay off at least one-third of their employees. The traffic of their website quickly doubled.
Vibe magazine is one of the greatest magazines for urban music. This magazine has been in the industry for more than 20 years now and they have already featured famous personalities such as Puff Daddy, Notorious B.I.G. and the Death Row Records which includes Suge Knight, Dr.Dre, Snoop Dogg and Tupac Shakur. The magazine briefly shut down in 2009 because of financial difficulties. After receiving financial support from NBA legend Magic Johnson, the magazine reopened again.
According to the CEO of SpinMedia, Steve Hansen:
“It’s really exciting to add this [Vibe] to SpinMedia’s collection of music properties and bring more digital DNA to the team and see what they can do.”
“We’re still trying to find a print model that works with digital economics, and that continues to be a challenge. It’s not as though I have an aversion to print. It’s just a matter of the economics.”
Let’s just hope that Vibe magazine can keep up with its competitors.