Ten years on from its launch – a longevity equivalent to ten decades for traditional publications – the axe has fallen on ASAP, Forbes Magazine’s quarterly digital business supplement, due purportedly to the tech advertising famine.
ASAP follows to the boneyard such other US new media trailblazers as Industry Standard. According to Forbes, the closure is a reaction “to the continuing difficulties in this technology sector … there is no longer a market for dedicated new economy publications”.
However, industry onlookers believe ASAP's demise is as much due to the effect of the adspend slowdown on Forbes itself which, in common with its business publishing peers, has been hard hit over the past two years with ad pages and revenue both down almost 48% year-on-year in August.
Data sourced from: Financial Times; additional content by WARC staff