Playboy's Profits Plummet
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I haven’t seen an issue in years but had no idea that Playboy might cost more to publish than comes in from advertising:
Hefner’s legendary publication is the central issue of the problem. Playboy, the most popular men’s magazine after Sports Illustrated, can no longer recover its expenses. Its advertising revenues have decreased 33% during the quarter. The losses could tail off, but the company expects it should still be on the decline by 16% in the second quarter.