Playboy Magazine Swings to Profit in Fourth Quarter

Posted On Sep 14 2019 by

first_imgOverall, the print/digital group reported a fourth quarter income of $2.5 million, compared to a loss of $400,000 during the same period in 2008. Revenues were down 14 percent to $28.2 million.Fourth quarter digital revenues slipped slightly to $9.6 million versus $10.7 million during the same period last year. Playboy attributed the loss to lower paysite and advertising sales. Licensing group revenues jumped 10 percent to $8.7 million during the period.According to Playboy CEO Scott Flanders, the company is still “a long way from effectively monetizing the power of the Playboy brand … Although each of our businesses has promising opportunities, our operations are subscale in industries dominated by large players. In our business, size matters. Our mission is to create a stronger and significantly more profitable company.”Flanders said in a statement that Playboy will continue to refocus management by keeping core creative operations in-house but to farm out others to partner companies, effectively reducing Playboy’s cost centers and overhead. He said he expects that the media business will remain challenged this year although the magazine will continue to benefit from an agreement it announced in November that passed the title’s advertising sales, circulation, marketing, production and all other business operations to American Media Inc.In 2009, Playboy’s adjusted EBITDA grew to $19.3 million compared to $13.6 million in 2008.“In total, we expect double-digit growth in [licensing] segment income for 2010, but, more importantly, our goal this year is to position the company for much greater future profitability in 2011 and beyond,” Flanders said. While the financial situation at Playboy parent Playboy Enterprises isn’t great, it also isn’t as bad as it has been. The company today reported a $51.3 million year-end net loss for 2009, compared to a $160.4 million loss the prior year. Revenues declined more than 17 percent to $240.4 million.During the fourth quarter, however, the company reported a net loss of $27.8 million versus a $146.8 million loss during the same period in 2008. Revenues were $60.6 million, down about 13 percent from the prior year period. Both quarters (2009 and 2008) included impairment, restructuring and other charges ($28.6 million in Q4 2009, $157.2 million in Q4 2008), the company said.Meanwhile, Playboy magazine reported a profit during the fourth quarter, the company said, with $18.6 million in revenues, including sales from its international editions and other special issues. Playboy said the profit was driven in part by its decision to publish a combined January/February issue and increased newsstand sales of its November “Marge Simpson” issue [pictured].last_img read more


Over 3500 Amazon staffers urge company to step up climate change fight

Posted On Sep 10 2019 by

first_img Share your voice Amazon employees urge the company to take more aggressive actions on climate crisis.  Alexander Pohl via Getty Images Amazon employees want the company to put more effort into fighting climate change.In an open letter to CEO Jeff Bezos and the company’s board published Wednesday, 3,541 Amazon employees ask the e-commerce giant to take more aggressive actions on climate change.”Amazon has the resources and scale to spark the world’s imagination and redefine what is possible and necessary to address the climate crisis,” reads the letter. “We believe this is a historic opportunity for Amazon to stand with employees and signal to the world that we’re ready to be a climate leader.”The staff members included a to-do list for Amazon in the letter. They asked the company to make a corporation-wide plan to reach 100% renewable energy in a timely manner, to stop selling Amazon’s cloud service to the oil and gas companies so they won’t expand fossil fuel extraction, to stop donating to regulators who vote against climate legislation and more.  In response, an Amazon spokesperson said the company has launched several major and impactful programs and is “working hard to integrate this approach fully across Amazon.””Our dedication to ensuring that our customers understand how we are addressing environmental issues has been unwavering — we look forward to launching more work and sharing more this year,” the spokesperson said in an email.  Tags Tech Industry Politics Now playing: Watch this: This isn’t the first time Amazon employees voiced their concerns over the company’s business conduct. Last June, the e-commerce giant’s staff wrote to Bezos to stop selling facial recognition technology to US law enforcement. They feared how the company’s Rekognition software would be used by the Immigration and Customs Enforcement and the Department of Homeland Security in the current political climate. “In our mission to become ‘Earth’s most customer-centric company,’ we believe our climate impact must be a top consideration in everything we do,” wrote the staff. “We have the power to shift entire industries, inspire global action on climate, and lead on the issue of our lifetimes.”Originally published April 10, 11:13 a.m. PT.Update, 1:04 p.m. PT: Adds statement from Amazon spokesperson.  8 Amazon kills plans for NYC headquarters 4:00 Comments Amazon Jeff Bezoslast_img read more


Anne Hathaway is pregnant again Expecting her second child with husband Adam

Posted On Sep 5 2019 by

first_imgGetty ImagesThe Devil Wears Prada actress Anne Hathaway is expecting her second child with husband Adam Shulman. She announced the same on Instagram as she shared a picture of her visible baby bump. Further delving a little into the details of infertility and conception hell, Hathaway stated how neither of her pregnancies has been an easy feat.Taking to Instagram, Hathaway shared a lovely mirror selfie with her flaunting a tiny baby bump. She captioned the image as, “It’s not for a movie…⁣⁣ #2 ⁣ ⁣All kidding aside, for everyone going through infertility and conception hell, please know it was not a straight line to either of my pregnancies. Sending you extra love.” Although the sex of the baby is still a mystery, it is one suspense that we don’t mind dealing with. Hathaway has often been very private about her personal life so it is not surprising that she will keep the sex of her second baby a secret till the due date at least. Anne HathawayInstagramAnne Hathaway along with her husband of seven years, Adam Shulman, first became parents in 2016 to a beautiful baby boy, Jonathan Rosebanks Shulman, in 2016. Earlier as she discussed pregnancy and the difficulty surrounding it, Hathaway spoke to The Sunday Times and was quoted saying, “I’m not perfect, but if I’m frustrated or distracted, I’m good at making sure he’s safe and walking away, calming down and then coming back to him. Further speaking about the harshness of motherhood, I fall short every day, but I’m not going to beat myself up about it, I’m going to learn from it.” Anne HathawayInstagramParenting has not been an easy feat but Hathaway found an ideal way to communicative effectively with her son, by taking a leaf out of the Duke and Duchess of Cambridge, Prince William and Kate Middleton’s parenting books. “They get down on the child’s level and speak to them eye to eye to make their child feel empowered,” she explained to the newspaper. “I thought that was really cool. I started doing that with Jonathan,” she added. We can’t wait to see more of Hathaway’s pregnancy pictures!last_img read more