An already dwindling number of online music site – or too often, music celebrity click bait engines – may be about to get a good bit smaller with news that perpetually struggling online publisher SpinMedia is for sale.
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SpinMedia music sites include SPIN, Vibe, Death and Taxes, Stereogum, Idolator, PureVolume and Buzznet. Celebrity sites include The Friskly, Go Fug Yourself and Celebuzz.
Collectively the sites are rumored to $5 million per year on revenue of $18 million. Unique visitors have fallen from a high of 50 million to to 25 million in July, according to comScore.
“They bought too many companies and did not have enough to support the brands, which just got thinner and thinner,” said one industry executive told the New York Post.