Indie rockers Kasabian have labelled it a “sad day” after long-running music magazine NME announced it was to curtail its weekly print edition.

The Time Inc magazine is to release its final print edition on Friday, citing rising production costs and a “tough” advertising market.

Lily Allen and Mogwai’s Stuart Braithwaite joined Kasabian and a host of stars from across the world of music in paying tribute to the magazine, which, launched in 1952.

Kasabian wrote on Twitter: “A truly sad day that such an icon is no more. Thank you for the memories. They’re gonna miss you when you’re gone. RIP NME.”

Braithwaite described buying the magazine every Wednesday as “pretty magical”.

Allen simply tweeted: “RIP NME”, while Slaves posted: “RIP @NME I still remember the feeling of our band first being mentioned in your hallowed pages. (And have a copy of every time we’ve been in it) Blessed to have been part of that historic magazine.”

Bragg posted: “When I first started out, my ambitions were to make an album, tour America and be on the cover of the New Musical Express.”

The Libertines wrote: “Very sorry to hear about the @NME issuing its last print edition. Love to all the writers there who’ve helped us over the years, and to all of you that picked up a copy. Blessed to have had you in our corner.”

Broadcaster and journalist Danny Baker, who landed his first job at the magazine, wrote: “The NME never once asked me where I studied. Or what certificates I had. Or where I saw myself in five years.

“They just sent you to see some band and asked for 400 words on them. If they liked it they’d give you an album to review. Next thing you know you’re in New York.”

The development comes at a tumultuous time in the magazine world, with Glamour announcing it would be printing a paper magazine only twice a year, and with its online site focusing on beauty.