Sixteen years after its foundation in 1993, Vibe Magazine created by the legendary music producer Quincy Jones is shutting down its operation immediately due to a lack of financial investments. Vibe is the latest casualty of a long list of magazines that have struggled to stay afloat amid the recession.
Over the years the magazine tried to maintain its profitability by transitioning itself from print to online media but with a declining in both its advertising revenues and circulation the new redesigned version of the site and of the print publication was not enough to save it.
As the magazine folded on Tuesday, June 30, it’s an entire genration of fans and readers that find themselves without a large voice to cover the world of Hip-Hop, R&B, fashion and urban culture.
In a statement Vibe current Editor-in-Chief Danyel Smith said: “On behalf of the Vibe content staff it is with great sadness, and with heads held high, that we leave the building today.” She also added, “we were assigning and editing a Michael Jackson tribute issue when we got the news. It’s a tragic week overall, but as the doors of Vibe Media Group close, on the eve of the magazine’s 16th anniversary, it’s a sad day for music, for hip-hop in particular, and for the millions of readers and users who have loved and who continue to love the Vibe brand. We thank you, we have served you with joy, pride and excellence, and we will miss you.”
Soon after its introduction Vibe became an immense business success and a platform for urban journalism.
Since 2006 the magazine was under the ownership of the Wicks Group, a New York private equity firm.
It has been speculated that Vibe might become an online only entity.
Written by Valerie V.
