Are music magazines doomed?

Yes

• People are not likely to pay for information they can get for free
• Magazines can't respond as quickly as the internet can respond
• Magazines don't fit with our multi-tasking world
• We like to use convergent devices (e.g. iPads, phones, etc.)
• We like to access information at anytime, anywhere
• Magazines need high sales and high advertising revenue, making them very expensive to produce

No

• Steve Auckland Metro Publishing told InPublishing: "90% plus of our money is coming from print"
• Diane Kenwood, IPC: "There is still a lot of money to be made from the sale of magazines: £2 billion worth are purchased every year, 2.6 million of them are sold in the UK every day. They're read by 87% of the British population"
• It can be hard to monetise the internet. It is especially hard to get people to subscribe to online magazines/newspapers, e.g. The Sun 
• Many things have been predicted to be doomed (cinemas with the advent of TV, Radio with the advent of Breakfast TV...) But they are still here!