In a major shift, Rolling Stone, the iconic music magazine founded by Jann Wenner in the 1960s, has announced that it will transition its lifetime subscribers to a digital format. This move signals a significant change in how the magazine has traditionally operated, drawing strong reactions from long-term fans and raising questions about the future of print media.
The Unfolding Scenario
David Roberson, the magazine’s senior vice president of subscriptions, sent a letter to lifetime subscribers in early May stating, “we are transitioning the delivery of Rolling Stone’s lifetime subscribers to a digital format. Your final printed copy will be the June 2024 issue.” Despite the continuation of physical editions, lifetime subscribers will now receive digital copies unless they opt for a print subscription, costing $60 per year. Penske Media Corporation, which owns Rolling Stone along with Variety, Deadline.com, and other brands, has yet to comment on the situation.
A Deal Gone Sour?
This major shift was not received well by the magazine’s lifetime subscribers, some of whom purchased the $99-for-life deal. Many took to online forums to express their disappointment, particularly regarding the digital catalogue’s limit to the past five years of issues. One user voiced their frustration, stating, “Right now I can read 25 years worth of back catalogue. I’d like to continue doing that with physical copies of the magazine.”
Despite the outcry, the move might not constitute a breach of contract. According to Alexandra Roberts, a professor of media and law at Northeastern University School of Law, “the new owner is probably not bound by the lifetime subscription deal, hence, no breach.” She suggested the magazine could be planning an ‘efficient breach,’ where it’s more cost-effective to pay the damages of a breached contract rather than continue under less profitable terms.
Reflection of a Bigger Trend
The shift from print to digital mirrors a broader trend in media consumption. Just as physical magazines and books have been largely replaced by digital copies, the rise of streaming services for music, movies, and shows has supplanted owning physical records or videos. Services like Spotify, with over 615 million users worldwide, have radically changed how people access music. However, this model often proves less profitable for artists, with Spotify estimating a single song generates between $0.006 and $0.008 per stream in royalties.
Challenges in the Media Industry
Beyond the transition to digital, the media industry faces persistent challenges. Data from global research firm Challenger, Gray & Christmas reveals more than 17,436 media jobs were lost in 2023, marking the highest number of layoffs (excluding those during the pandemic) since 2009.
Separately, Rolling Stone has had its share of costly missteps. Perhaps the most notable includes publishing a now-discredited account of a University of Virginia student’s alleged gang rape, leading to a libel battle in 2014.
The Future of Rolling Stone
Despite the backlash, the final print issue for lifetime subscribers is set to be released this month. Despite the price tag, subscribers insist the physical copies have value. As one Reddit user put it, “the physical issues have value and that is what I paid for 25 years ago.” Only time will tell how these changes will impact the future of Rolling Stone and the wider print media industry.
