Today I opened my inbox and got one of the most disheartening emails I have received all year.One of my favorite magazines I subscribe to, Paste, is apparently in danger of going under. I'd absolutely hate for that to happen, as they not only provide me with a great music resource but also throw great SXSW showcases. I also enjoyed their ACL party last year. Now, it could all be gone with other print magazine going the wayside. Here is the text directly from the email I just received:
Dear Paste readers,
We write this letter with great appreciation for all you’ve done for Paste, as well as sorrow that we need to come to you and ask for further support. The economy has taken its toll on Paste, and we need your help to continue.
As the global recession has continued, many of you have written us (especially as ad pages shrunk) to say, “If you ever need help, let us know.” That day has come.
Today, we are launching the “Campaign to Save Paste" to raise money to keep Paste coming to your mailboxes and computer screens. If you are in a position to give even a little, please consider donating. As thanks for your generosity, over 70 amazing artists (including The Decemberists, Neko Case, Bob Mould, Cowboy Junkies, Indigo Girls, The Jayhawks, Brandi Carlile, John Roderick of The Long Winters, Patterson Hood, The Avett Brothers and Josh Ritter—with more to come) have gathered and donated rare & exclusive MP3s for all who join us in the campaign. Here's what artists are saying about why Paste should be saved.
As a completely independent company, Paste has struggled for the past nine months as advertisers have decided to wait out the recession. As most of you realize, magazines are heavily subsidized by advertising. Industry experts estimate that an average subscription for a monthly publication would cost $60-$80 per year without advertising support.
But last month was brutal. Cash received unexpectedly reached an all-time low, and turned a tough situation into a short-term crisis.
Long-term, Paste will emerge in good shape. Even with the fall-off at the end of the year, 2008 was our best year yet—print subscribers, print ads, online readers and online advertising were all at record levels. Readers (print and online) remain strong. And new advertisers have come on board even in the recession, with more ready when their advertising budgets come back.
In the meantime, we’ve adjusted our business to weather this storm. We’ve cut costs, and we developed a robust online business that’s among the best in the industry. Fundamentally, we’re in good shape and won’t need another appeal down the road. But it’s taken us until this point to get there—leaving us critically low on cash, without some large corporation behind us to bridge the gap.
We’ll make it through this short-term economic crisis—but it’s only with your help. Our fate is (and has been and always will be) in your hands. Big-time investors are not “in the game” right now—but readers can rise up and “invest” in Paste’s future. Will you be a part?
We appreciate all of your support so far—everyone who’s subscribed, given a gift, or even read a story online or opened a newsletter. It’s all enabled us to make it this far. Now, we humbly ask you to consider giving a little more.
It doesn’t take much. Every little bit helps and you can be a part of continuing our efforts to help you find signs of life in music, film and culture. If $1 (yes, one dollar) came in from everyone on our e-mail lists (or $10 from 10% or $100 from 1%), we’ll reach our goal and emerge from this recession as a stronger magazine and website. While we’re not a non-profit (this isn’t a tax-deductible gift), know that every dollar you give goes into keeping Paste alive and, ultimately, making it even better.
While you’re at it, also let us know what more you’d like to see from Paste. What should we do (or do better) online to help you discover new music, film and more? As advertising comes back and the magazine thickens, what would you like to see in print?
With our sincerest thanks,
Josh, Tim and Nick for the entire Paste family
Click here to donate to Paste Magazine
2 comments:
Gotta disagree here. If a magazine has 200,000+ subscriptions, gets sold on newsstands around the world, and sells ad space... and it STILL needs to solicit donations to be published that means someone done fucked up. I'd be curious to see how their money has been getting spent up until now. Asking for donations from the people who already subscribe is weak and spineless. They deserve to go under. We are truly Generation Bailout. That "no consequences" mentality has to stop.
You're such an angry little Hip-spanic Ajay. You do make valid points. My thing is that Paste fills an indie void in the music magazine wolrd. I'd be just as distraught if AP or Revolver were to go under. Perhaps they should just be progressive and green by going online only. I'd dig that.
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