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More On Playboy’s Decision to Eliminate DVD’s

WWW- The days of the DVD appear to be nearly at an end after it was revealed that even porn has no future on the medium in an online age.

Playboy has decided to pull its DVD-producing arm and instead concentrate on online content, resulting in 80 job cuts at the company.

Playboy spokeswoman Martha Lindeman said DVDs made up part of the business worth $2.9 million in the first half of this year, compared to the first half of 2007 when it was $3.4 million.

The company announced restructuring plans two months ago with an eye on saving $10 million a year.

In August, Playboy posted a second-quarter loss of $2.1 million, or 6 cents a share, compared with net income of $1.9 million, or 6 cents a share, a year ago. Revenue fell 14 percent to $73.4 million.

In a memo to all Playboy employees, Christie Hefner, the daughter of Playboy founder Hugh and the company’s chairman and chief executive, said the goal was to return the company to profitability in 2009.

Hefner said in the memo that Playboy will continue to deliver more content digitally as it exits the DVD business in phases over a few months to concentrate on selling that content online.

Playboy will cut overtime, travel and entertainment, and find environmentally sound ways to save energy and money, including using lighter magazine paper and energy efficient light bulbs.

“Unlike other companies that began in print, we have profitable television, online and mobile businesses, which have domestic and international growth potential,” she said in the memo,

She said Coty, the world’s largest fragrance company, would begin global launch of Playboy fragrances this autumn.


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