Wednesday, August 06, 2008

Playboy posts quarterly loss

(Reuters) - Adult entertainment publisher Playboy Enterprises Inc posted a quarterly loss, hurt by continued pressure on its media businesses, and said 2008 will remain a difficult year.

Playboy and other publishers and television companies have suffered as more people get their entertainment online, and often for free.

"This has created a challenging environment for our print and TV businesses, which has been compounded by the current macro-economic climate," the company said in a statement.

The publisher of the iconic men's magazine posted a net loss of $2.1 million, or 6 cents a share, compared with a net income of $1.9 million, or 6 cents a share, a year ago.

Revenue fell 14 percent to $73.4 million.

Analysts on average had expected the company to earn 5 cents a share, excluding exceptional items, on revenue of $82.1 million, according to Reuters Estimates.

Another thing I'm not surprised about. I've blogged about Playboy in the past. The magazine has done little to change it's image, and look since . . . forever. It's hurt them. Bad. One doesn't get much for their subscription. Playboy TV is a joke. The internet and other options for men have made it a tough market. Playboy hasn't adapted well.

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