U magazine to cut print version as part of digital transformation efforts
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Hong Kong lifestyle and travel magazine U Magazine will cut its print version from September in response to market developments and the digital transformation of the group.
According to the official statement on its Instagram and Facebook, U Magazine said it will publish its final print version on 31 August and will axe the print copy from September. It said that it's a tough decision to suspend the print version, but all digital platforms of the magazine will continue to operate as usual and will be updated regularly. It added that it will arrange refunds for subscribers of the magazine’s e-version.
“We will continue to work hard to provide readers with consistently high-quality content. Once again, we thank all readers for their love over the years,” the statement read.
Owned by Hong Kong Economic Times (HKET), U Magazine is a weekly-published travel magazine in Hong Kong which has been published since December 2005. It has more than 2M followers and 1.7M likes, a check by MARKETING-INTERACTIVE saw.
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Apart from U Magazine, there has been a number of local publication and media ceasing its operations or print version in recent years. For example, Hong Kong-based newspaper Apple Daily was forced to shut its door in 2021 after its editor-in-chief and four directors were arrested last week for alleged collusion with foreign forces.
In 2020, worldwide IKEA franchisor Inter IKEA Systems has decided to cease publication of its IKEA catalogue after 70 years as part of its digital transformation efforts. This comes as the furniture retailer see that customer behaviour and media consumption have changed, and fewer people read the IKEA catalogue today than in past years.
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