Wonder if this is a sign of the times

Last month, I bought the previous issue of this British magazine. It isn't my favourite magazine, but was slightly interesting and did have a shawl pattern which I plan to knit. I was surprised to learn that the next issue of the magazine, #63 will be the last. Their announcement said: "Tailor Made Publishing has decided to close the title because the market for knitting magazines has become too crowded." I wonder if that will happen to the American knitting magazines. There are so many in print at present.