After a great 25 year run, South China Morning Post group have announced that they are shutting down HK Magazine. It's a real shame to see print media on the decline but with digital platforms saturating the media market, it is no surprise that publications such as this are struggling to keep afloat. This weekly English magazine was free and often handed out in bars and cafes but it appears that the advertising profitability and market conditions for print publications have made it impossible for this magazine to continue. News like this, whilst sad, really does show the shift towards 'the digital age'.
An SCMP spokesperson said in a statement, “In the past few years, HK Magazine has been subjected to very challenging market conditions, which were especially dire for English-language lifestyle print media. Furthermore, the volatile advertising landscape, diminishing profitability from display advertising and event business further thwarted the magazine’s sustainability in the foreseeable future.”