After bringing the breaking news, interesting interviews and elaborate analyses to the public, FX-MM has announced about its operations' shut down. Here, we discuss why did FX-MM Magazine shut down and look at the history of the magazine.
23 November, AtoZForex – The monthly magazine for the trading, technology and treasury community, FX-MM Maganize has announced sad news. The journal will be closing by the end of the current year after being on the market for 25 years. According to the portal’s editor and published Peter Garnham, the company has a substantial reason for such decision.
Why did FX-MM Magazine Shut Down?
In fact, Mr. Garnham has been editing FX-MM for four years. He has stated that the key reason for the FX-MM shut down is a rising competition. Mr. Garnham stated that the saturation of the market with various sources of information has “become too great an obstacle.”
The famous Forex journal was founded in 1993 as a semimonthly publication. The magazine then progressed to published 9 issues of financial markets coverage that appealed to its target audience.
Remarkably, FX-MM has been able to collaborate with the key decision-makers in the treasury, technology and trading space. The journal was providing diverse interviews, debates, insights, and analyses.
As a matter of fact, the paid news business can become an extremely challenging environment to work within. These days, it emerges even more challenging for niche targeting publishers to find their audience.
FX-MM Peter Garnham Comments
The official announcement from Peter Garnham is as follows:
“It is with sadness that I have to announce the closure of FX-MM. Over the years, FX-MM has strived to provide an essential resource for the trading, treasury, and financial technology sectors.
However, the delivery of media in this space has radically changed.
Despite our many efforts to develop new products and services, the saturation of the market with alternative sources of data has become too great an obstacle.”
Indeed, small and medium-sized publishers have been finding themselves at a disadvantage in creating a paid business. This is mainly due to the lack of promotions and resources that many other large players enjoy.
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