Last Thursday, editor Jay Babcock posted an announcement on Arthur Magazine's website, titled "Arthur Magazine needs $20,000 by July 1 or it will die." In it, he details the LA-based magazine's recent financial troubles, including poor ad sales, increased costs, "zero new backers," and more. Indeed, Arthur -- most famous for trumpeting the adventurous realms of the musical underground with writers like Byron Coley and Thurston Moore -- is still in ridiculous, credit-cards-maxed-out debt (created after Babcock saved the magazine from demise last year by purchasing publisher Laris Kreslins' half ownership).
But, in the TMT tradition of burying the lede, I'm happy to report some good news. Despite only having six days to reach its goal of $20,000, Arthur has already raised -- as of Monday morning -- $20,879 from 234 gracious "participants," thus essentially saving the magazine once again!
According to Babcock's post: "Our long-term prospects are good, if we are fortunate enough to make it through this rough patch." Apparently, the rough patch is over. But given the tightness of this situation, it definitely wouldn't hurt to donate more.
