Monday, May 12, 2008
Playboy drops, shares droop
Is Playboy irrelevant in the internet age? The Hugh Hefner empire is on a losing streak, and may end up just marketing its bunny ears and other branded items instead of those famous articles for which its readers always claim they bought the venerable magazine-cum-strokebook.
Second quarter losses of $3.1m were bad news for the adult entertainment empire, now run by Hefner's daughter Christie, according to Reuters. The wide availability of free porn downloads seems to have eaten into the demographics Spreadsheet may trump centerspread, foldout or not.