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