Recession now hitting websites?

Here is an email i recieved from a music player website i use, mixwit.

Mixwit is Shutting Down‏
From: Mixwit (X)
Medium riskYou may not know this sender.
Sent: December 18, 2008 7:06:00 AM
To: X

We regret to announce that Mixwit will cease to exist at the end of the
year.The website and profiles will be turned off around Dec 27th and
all embedded widgets will stop playing before the end of December.

We’ve put a year of work into Mixwit so this choice wasn’t taken lightly. I
won’t go into the details of our situation but state simply that we
boldly marched into in a position best described as “between a rock and a
hard place.” We’re very grateful to be have been part of the mixtape
revival of ‘08 and are satisfied to be able to to bow out while things
are still good.

You guys are all amazing. It’s clear that all of you put a ton of time and
effort into your mixes. For me personally, I was looking forward to all of
the designs people created for their tapes. There was a lot of basic tapes
and many lovely photos, but the designs and artwork - WOW!

We’re very sorry that this has to end. We’re going to try to figure out
some way to archive the artwork and playlists, if for nothing at least
historic value. As for now, everything needs to be shut down by the end
of the year just to make sure we’ve got a clean start for 2009.

We’ll return early next year with a new company and new toys. Until
then, enjoy the holidays and please take good care of yourselves,
your families, and your friends =)

- Radley & Mike

They didn't explain why... sadly. I will miss this site.. I know there are others like it, but this one had the special 'old time' flavour to it. Especially since i had lived in a country where cassettes, the way music is played on the website, were reletivly new. They were something from my old generation; the 90's were some of the greatest years of my life.

Then they showed up on the internets (oh look, a new firefox is now available...).

Well, i guess i will need to google myself another website for this... I wonder if there is one for record players? surely there are jukeboxes...