ATLANTA (Hypebot) –
Last week Paste sent out a call for donations. Ad revenue had fallen and debts had risen to the point where a complete shutdown was near if funds were nit raised quickly to save the music magazine. Yesterday Paste sent out an update that read in part:
"When we launched the campaign, we had no idea what to expect…The response has been phenomenal. Readers, press and even advertisers showed remarkable support…
So far we have raised $148,000! That was the minimum that we needed to keep us going into the summer; we never expected to hit this goal so quickly…
We still have a ways to go. Most of our debt will be paid out of revenues when the economy starts to rebound and advertisers return, but we need $300,000 to take care of bills that spiraled up during the ad slump…”
