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Is This the End of Playboy?
Unless you've been living under a rock, you probably know that traditional media of all stripes is being hit hard by the recession and by, well, no one reading traditional media. Unfortunately, my soft-core porn loving friends, Playboy is no exception.
Yesterday, Playboy Enterprises reported a $13.7 million net loss for the most recent quarter, more than three times the loss it took in the same period last year. In October of last year, Playboy laid off more than a quarter of its staff, closed down its DVD business and its New York office.
Playboy's revenues are in freefall - down 26 percent from last year. Even online revenue dropped significantly. Looks like no one - even porn fans - are willing to pay for content online.
So how is Playboy going to survive? Increasing the price of its magazine. Yep - in the future you'll have to pay more to oogle those playmates.
But fear not. Even if the parent company goes down the tubes, analysts predict that Playboy magazine will be sold off and ultimately survive. Long live air-brushed boobies!
photo credit: Playboy
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