As reported by Billboard.biz last night, today BuzzMedia announced its acquisition of Spin Media LLC, parent company of 27-year-old Spin magazine. The brand joins a BuzzMedia stable that includes Stereogum, Idolator, Hype Machine, Pure Volume, Brooklyn Vegan, AbsolutePunk, Buzznet, the recently acquired XLR8R and other properties.
"As music consumption continues to grow, there is an enormous demand for deeper context and engagement with thousands of diverse artists," said BuzzMedia CEO Tyler Goldman said in a statement announcing the acquisition. "Spin's category-leading editorial and photographic content provides the added social context that the audience is seeking by identifying, exploring and documenting the trends and scenes that shape music culture. While content is now being consumed across numerous devices, the key for all platforms is the type of great storytelling that Spin provides."
Asked about reports that Spin magazine's September/October issue will be its last print edition, a rep for the company supplied the following statement from Goldman: "What first attracted us to Spin was its print presence, potential for cross-platform opportunities, and great storytelling. We believe there is a unique role for print and see it as another outlet for people to access content about their passion topics. On newsstands August 28 and featuring cover star Azealia Banks, the September/October 'Look' issue focuses on artists who think as intently about their look as they do about their sound. In the longer term, we're still defining how print fits in from a platform perspective."
However much longer the print magazine continues, BuzzMedia is clearly planning on taking Spin deeper into the digital realm, a process that it has already begun with the expansion of its online presence in recent months.
"BuzzMedia will [expand] the overall Spin editorial team and coverage areas in connection with extending digital distribution, so that audiences can better experience, consume and participate in Spin's original content," the press release reads -- and when the release lists Spin's properties, Spin.com is first and the magazine second.
"As our audience has migrated to digital platforms, so too has Spin, as evidenced by our growing audience of more than one million digital users and our award-winning iPad app," said Spin Media CEO Alan Nichols said in the statement. "This deal greatly accelerates our digital transition, enabling us to not only tap into BuzzMedia's digital audience of 120 million unique monthly visitors, but also its ability to foster original, authentic and insightful voices in a digital world."
BuzzMedia has been increasing its presence in music over the past several months, hiring former Village Voice Media director of new media Bill Jensen as VP/GM for music, among other hires.
Citing comScore, BuzzMedia claims the acquisition establishes it as the the fourth-largest digital publisher of original music content in the U.S., alongside MTV, Yahoo! Music and AOL Music.