Over the past 14 years I have built countless trusting relationships in the music industry, a large portion of which are with our advertising supporters. That’s why this announcement is perhaps the most difficult I’ve ever had to make. Resonance #55, in which you booked advertising and which was the proud second installment in our bold new redesign, could not be printed. None of us, myself included, were aware how dire the financial situation had become until the weekend before we were scheduled to print in early January. The reason, simply, is that we ran out of money. Independent publishing has always been a challenge. The recent couple of years, however, have been a much greater struggle due a number of factors, not the least of which include: downturns in the magazine and musicindustries; rising paper, production and postage costs; the list goes on.

More after the jump…

We’ve always been a small-budget business, but we nonetheless made additional spending cuts wherever possible, many of them painful (being unable to pay staff for the previous year, for one). In the past we had survived the lean times by borrowing on credit to cover shortfalls, but these gaps have been steadily increasing to an unmanageable degree. Our debt finally reached its limit—immediately before going to press with issue 55.

This was a harsh and sudden shock. We had worked tirelessly and in good faith these past several months, devoting, as we always have, hundreds of hours to produce the best issue possible in terms of editorial, design and integrity. I believed we would manage financially, like usual, by the skin of our teeth. This time I was wrong.

There is a silver lining, though. Even if in a partial or different way, we want to make good on the advertising booked in issue 55. This edition is complete, and exhibits everything readers expect from Resonance: sleek design, eclectic editorial, and an obsession with innovative creativity in music and beyond. We are distributing Resonance 55 to readers, subscribers and industry folks as a free digital magazine (a hi-res PDF) that is permanently available for download on the front page of our website. We are spreading the word and driving traffic to the download. Ironically, this digital version of issue 55 will likely be seen by more readers than a hardcopy release.

Please also note: all advertisements in the issue are hyperlinked to your website.

Click here: www.resonancemag.com

For at least the near term, Resonance is on hiatus as we consider our options. While escaping bankruptcy is likely not one of them, we are deliberating how to bring Resonance online, and do so with quality content and unique approach. If we can successfully transition to this format, our current advertisers will be at the top of the list to compensate for issue 55. We will also investigate finding an investor or publishing company interested in Resonance—if you know of any possible leads, please let us know. If there’s a viable way for us to continue, and subsequently restore your confidence in our publication, we will.

Please accept my earnest apologies for this situation and any hardship or inconvenience it has caused. I am deeply grateful for the faithful support of our advertisers. Thank you for believing in us for so long. If I can answer any questions or provide additional information, please do not hesitate to contact me directly.