There's going to be a lot more room in the seat-back pockets on your next plane ride. SkyMall, your favorite title to skim through during pre-flight safety demos, is going kaput. Its parent company, Xhibit Corp., filed for bankruptcy today, along with several other of its properties.
The downfall of the catalog — once a must-read for bored passengers — is sad, albeit unsurprising. In its heyday, the magazine brought in $130 million in annual revenue. However, the company has struggled to keep up with technological advances and the increasingly relaxed regulations on in-flight gadget usage. Sales dwindled to $15.8 million for the first three quarters of 2014. Perhaps for consumers of today, playing Candy Crush Saga and checking Facebook are more appealing ways to pass time while in transit.
With SkyMall on its way out, who's going to fill the demand for couture arm slings and dog spa gift boxes? Here's hoping that some app developers are already hard at work.
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