Once gaming magazine powerhouses, both Electronic Gaming Monthly (EGM) and 1Up are being sold because they have been losing money.
The Game Group pulled in $9 million worth of revenue in the third fiscal quarter of 2006, but still lost half a million dollars overall.
The internet is increasingly replacing the need for printed magazines because of the ability to update the content speedily, more frequently, and best of all for free. Take the example of the latest in-game footage. It makes more sense for this content to be online rather than in a magazine, simply because the minute this content is released, it can be published on thousands of websites, and the user doesn’t have to wait for the next issue of the magazine to come out before he can view it.
Magazines are not just limited by how infrequently they come out, but by physical pages.
But this doesn’t necessarily spell doom for magazines. Read more.
Originally posted on January 12, 2007 @ 12:51 pm
For my money, it makes perfect sense that the first print outfits to close their doors would be those whose primary audience lies in the digital realm.
We’ll see tons of niche mags close up shop this year, and as long as Print and STEP stay open, I won’t miss a one of them.
If we can somehow get all those women fashion mags to close I would be a happier human too.
Probably have to close grocery stores for that to happen…
There you go.
I think it’s endemic of something even deeper – the whole viability of once-a-month print mags.
All those areas that Weblogs Inc are moving into (lifestyle, parenting, food) – big ad dollars at risk.
This could be the tipover year.