NME (New Musical Express) closes its publishing house. The current issue of the iconic British edition will be the last in the history of the magazine.
However NME.com will continue to develop and expand two audio channels: one for new music, the other for the one that has already become a classic. They can listen online on digital radio to the British. Plus, a new paid magazine NME Gold will be published on paper. The site will also continue to exist.
In his statement, the Floor Chill, Director of the music Department at Time Inc., blames “the increased prices of production and very tough advertising market” in the closure of the free publication.
“NME is one of the strongest brands in Britain. And the fact that we made the magazine free, helped draw a huge audience, and to attract such stars, about which we even could not dream. But, unfortunately, we have reached the point where free weekly magazine may no longer exist,” said Paul Chill.
New Musical Express was founded in 1952 and in the 70s became the market leader in music publications.