Future Publishing has closed down the long-running Official Xbox Magazine after 19 years of service.
Revealed by a report by Eurogamer, the magazine’s staff have all been let go amidst the unfortunate wave of Coronavirus. The news comes amid a colossal reduction in budget for freelancers working throughout most of Future Publishing’s magazines and websites.
Future Publishing has said that the closure of OXM has come due to the decline of the video game retail market.
“Like many organisations right now, we find ourselves being forced into making difficult decisions,” revealed Future via a statement. “We have a duty of care to all our staff during this time and our focus is on protecting the business for them and for our customers. We have introduced a raft of measures to keep the numbers of lay-offs to an absolute minimum, including significant pay cuts for our Executive Team and Board. Whilst the decline in retail footfall impacts our magazine business, we are well placed with significant digital audiences and diversified revenues to continue delivering on our customers’ changing needs at this time.”
The closure of Official Xbox Magazine comes at a weird time. With Microsoft currently ramping up for a strong release of the next-generation Xbox Series X and Halo Infinite, the possibility of an OXM resurgence is not a wild reality. Maybe we’ll see an OXM return if Microsoft’s next-gen console miraculously regains market dominance.