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Ad Drop Pinching Playboy's Bottom Line

  • Reuters, Thursday, February 14, 2008 11:15 AM
Playboy Enterprises is feeling the pinch of a tough print advertising market with the company posting a fourth-quarter loss on falling ad revenue at its publishing arm and a drop-off in domestic television sales. And the pain isn't over yet: Playboy said it sees continuing declines in advertising at its flagship magazine this quarter, due to industrywide malaise and a rate base cut that will drag down prices.

On the plus side, the Chicago-based adult entertainment company is recording double-digit growth for its international TV and licensing units. Chief Executive Christie Hefner says the company will invest more in technology, marketing and content to drive growth in its online and mobile businesses but in the meantime is looking at 30% fall in magazine ad revenue.

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