Editing PLBY Group (section)

==History==
Sales of ''Playboy'' magazine peaked in 1972 at over 7 million copies.<ref name='NewYorker20060320'>{{cite magazine
 |url=http://www.newyorker.com/archive/2006/03/20/060320crbo_books?printable=false |title=The Girls Next Door | magazine=The New Yorker |date=20 March 2006}}</ref> By 2015, the circulation had fallen to 800,000.<ref>{{cite web | url=https://www.nytimes.com/2017/09/27/obituaries/hugh-hefner-dead.html?mcubz=3 | title=Hugh Hefner, Who Built Playboy Empire and Embodied It, Dies at 91 | work=The New York Times | date=27 September 2017}}</ref> The company completed its shift to consumer products in 2020 with the shuttering of the magazine division, and is now known to generate more than $3 billion in [[consumer spending]] annually across 180 countries.<ref>{{cite news |last1=Jasinski |first1=Nicholas |title=Playboy Has Gone Public. Here's What to Know. |url=https://www.barrons.com/articles/playboy-is-set-to-go-public-heres-what-to-know-51613003981 |access-date=10 May 2021 |work=[[Barron's (newspaper)|Barron's]] |date=11 February 2021}}</ref>

Playboy Enterprises, Inc. made its [[initial public offering]] on November 3, 1971, at $23.50.<ref>{{Cite web |date=2006-03-26 |title=Playboy Enterprises, Inc. |url=http://www.playboyenterprises.com//home/content.cfm?content=t_template&packet=00017B97-9135-1C72-8FEA8304E50A010D&artTypeID=00025AAE-7EF7-1C72-8FEA8304E50A010D |access-date=2023-02-09 |archive-url=https://web.archive.org/web/20060326060757/http://www.playboyenterprises.com//home/content.cfm?content=t_template&packet=00017B97-9135-1C72-8FEA8304E50A010D&artTypeID=00025AAE-7EF7-1C72-8FEA8304E50A010D |archive-date=26 March 2006 }}</ref>

Playboy ran forty [[Playboy Club]] properties from 1960 to 1986 and operated casinos in England from the mid-1960s to 1981, when they lost their operating license. Playboy also operated a casino in [[Nassau, Bahamas]], from 1978 to 1982.<ref>Playboy Chips and Tokens – The Rise and Fall of the Bunny Chip www.ccgtcc-ccn.com [http://www.ccgtcc-ccn.com/BunnyChip.pdf PDF]</ref> From 1981 to 1984, the company was a partner in the [[Trump World's Fair|Playboy Hotel and Casino]] in [[Atlantic City, New Jersey]]. Playboy Enterprises was denied a permanent New Jersey gaming license and was forced to sell out to its partner, which changed the name of the hotel/casino to the Atlantis Hotel and Casino. The company returned to the nightlife business with the [[Playboy Club (Las Vegas)|Playboy Club]] at the [[Palms Casino Resort]] in [[Las Vegas, Nevada|Las Vegas]], which opened in 2006<ref>{{cite news|last=Bracelin|first=Jason|date=7 October 2006|title=Bunnies Are Back: Palms' Fantasy Tower takes Playboy Club concept to new heights|work=[[Las Vegas Review-Journal]]|url=http://www.reviewjournal.com/lvrj_home/2006/Oct-07-Sat-2006/news/10090046.html|access-date=9 July 2012}}</ref> and closed in 2012.<ref>{{cite news|date=4 June 2012|title=Playboy Club at Las Vegas' Palms casino closes|work=[[USA Today]]|agency=[[Associated Press|AP]]|url=https://www.usatoday.com/money/destinations/lasvegas/story/2012-06-04/Playboy-Club-at-Las-Vegas-Palms-casino-closes/55383590/1|access-date=9 July 2012}}</ref> Other Playboy Clubs opened in Cancun, Macau, and London in 2010 and 2011.<ref>{{cite news|author=Kee Hua Chee |date=27 June 2001 |title=Playboy Bunnies a tourist attraction |work=[[The Star (Malaysia)|The Star]]|url=http://thestar.com.my/lifestyle/story.asp?file=/2011/6/27/lifeliving/8894595&sec=lifeliving |access-date=9 July 2012}}</ref> Meanwhile, the company said it would open at least three Playboy stores in each of the next three years.<ref>[https://sunainachauhan.in/playboy-pull-a-rabbit.html "Playboy Pull A Rabbit"]. [[MSN]].</ref>

{{anchor|Alta Loma}}In 1959, the company formed '''Alta Loma Entertainment''' (formerly '''Playboy Productions''' from 1959 to 1988, and '''Alta Loma Productions''' from 1988 to 1999), to produce movies and television shows. The first project was ''[[Playboy's Penthouse]]'', a television show on [[WLS-TV|WBKB-TV]],<ref>{{Cite news |date=August 13, 1959 |title=Playboy head to have new show on WBKB |work=[[The Chicago Tribune]] |pages=14}}</ref> which was followed by ''[[Playboy After Dark]]'', a television series that ran for two seasons,<ref>{{Cite news |date=July 15, 1968 |title='Playboy' production begins |url=https://www.worldradiohistory.com/hd2/IDX-Business/Magazines/Archive-BC-IDX/68-OCR/1968-07-15-BC-OCR-Page-0062.pdf |access-date=April 4, 2024 |work=[[Broadcasting & Cable|Broadcasting Magazine]] |pages=62}}</ref> and the format was revived as ''After Hours'' in 1989.<ref>{{Cite news |date=November 14, 1988 |title=Syndication Marketplace |url=https://www.worldradiohistory.com/hd2/IDX-Business/Magazines/Archive-BC-IDX/88-OCR/BC-1988-11-14-OCR-Page-0052.pdf |access-date=April 4, 2024 |work=[[Broadcasting & Cable|Broadcasting Magazine]] |pages=54}}</ref>

In 1982, Playboy Enterprises founded '''Playboy Home Video''' (later '''Playboy Home Entertainment'''). At first, the Playboy Premiere titles were distributed by [[MGM Home Entertainment|MGM/UA Home Video]],<ref>{{Cite news |date=December 10, 1983 |title=MGM/UA Now To Handle Playboy Vids |work=[[Cashbox (magazine)|Cashbox]] |pages=8}}</ref> with others going to [[20th Century Home Entertainment|CBS/Fox Video]], but the label changed hands to other distributors since 1985.<ref>{{Cite news |last=Dobrin |first=Gregory |date=June 1, 1985 |title=Playboy Home Video Enters Dist. Pact With Lorimar |work=[[Cashbox (magazine)|Cashbox]] |pages=8}}</ref>

''[[The Age]]'' reported in October 2008 that, for the first-time ever, Hugh Hefner was selling tickets to his celebrity-filled parties to offset his cash-flow problems due to setbacks Playboy Enterprises had suffered, including decreasing ''Playboy'' circulation, decreasing [[stock]] value, and ventures that have yet to turn a profit.<ref>"[http://www.theage.com.au/articles/2008/10/17/1224351116190.html Party's over for Playboy king Hugh Hefner]." ''The Age'' 18 October 2008. {{Retrieved|access-date=30 October 2008}}</ref> Christie Hefner released a memo to employees about her efforts to streamline the company's operations, including eliminating its [[DVD]] division and laying off staff.<ref>"[http://biz.yahoo.com/paidcontent/081015/1_328648_id.html?.v=1 Playboy Enterprises Does Restructuring; Shutting DVD Division For Online Focus; 80 Positions Will Go]." ''Yahoo! Finance'' 15 October 2008. {{Retrieved|access-date=30 October 2008}}</ref>

In March 2011, founder Hugh Hefner succeeded in a bid to take Playboy Enterprises private after 40 years as a [[publicly traded company]]. He partnered with private equity firm [[Rizvi Traverse]].<ref>{{cite press release|url=http://www.prnewswire.com/news-releases/playboy-enterprises-inc-announces-closing-of-acquisition-by-icon-acquisition-holdings-lp-117424923.html|title=Playboy Enterprises, Inc. Announces Closing of Acquisition by Icon Acquisition Holdings, L.P.|access-date=4 June 2017|date=4 March 2011}}</ref>

Playboy Enterprises closed its former headquarters in the top office floors of [[680 N Lake Shore Drive|680 N. Lake Shore Drive]] in [[Chicago, Illinois]], in April 2012.<ref>{{cite web | url=http://www.minonline.com/news/Playboys-Move-to-Los-Angeles-Set-for-April-30_19746.html | title=Playboy's Move to Los Angeles Set for April 30 | date=17 January 2012 | access-date=9 July 2012 | archive-url=https://web.archive.org/web/20120417080403/http://www.minonline.com/news/Playboys-Move-to-Los-Angeles-Set-for-April-30_19746.html | archive-date=17 April 2012 | url-status=dead }}</ref> In January 2013, the company said it employed 165.<ref name="The New Old Playboy"/>

In 2018, less than a year after Hugh Hefner's death, his estate sold its remaining Playboy shares of 33%, worth $35 million, to Icon Acquisition Holdings LP. The money was split between Hefner's widow and his four children.<ref>{{cite web|url=http://fortune.com/2018/08/03/hugh-hefner-playboy-shares|title=Hugh Hefner's Family Sells Their Remaining Shares in Playboy |website=Fortune |access-date=26 October 2019 |date=3 August 2018}}</ref>

In March 2020, CEO Ben Kohn announced that the Spring issue of the magazine would be the last to be printed, and the publication would be online-only going forward.<ref>{{Cite web|date=18 November 2020 |title=An Open Letter To Our Team And Partners|url=https://medium.com/naked-open-letters-from-playboy/an-open-letter-to-our-team-and-partners-b859b1a4c663 |access-date=13 March 2021|website=Medium|language=en}}</ref>

In October 2020, Playboy Enterprises announced a reverse merger with Mountain Crest Acquisition Corp, a special purpose acquisition company (SPAC). On February 11, 2021, PLBY Group, Inc. completed its merger and began trading on the Nasdaq stock market under the PLBY ticker. PLBY Group, Inc. and its subsidiaries, including Playboy Enterprises, is headed by Ben Kohn, chief executive officer, president and director.<ref>{{cite news |last1=Jasinski |first1=Nicholas |title=Playboy Has Gone Public. Here's What to Know. |url=https://www.barrons.com/articles/playboy-is-set-to-go-public-heres-what-to-know-51613003981 |access-date=19 April 2021 |work=[[Barron's (newspaper)|Barron's]] |date=11 February 2021}}</ref><ref>{{cite news |last=Maurer |first=Mark |title=Owner of Playboy Brand Looks to Invest SPAC Money in 'Sexual Wellness' Sector |url=https://www.wsj.com/articles/owner-of-playboy-brand-looks-to-invest-spac-money-in-sexual-wellness-sector-11616702854 |access-date=19 April 2021 |work=[[The Wall Street Journal]] |date=25 March 2021}}</ref>

=== Segments ===
The company has three reportable segments: Licensing, which includes licensing of Playboy brands to third parties; Direct-to-Consumer, including sales of third-party products through its owned-and-operated e-commerce platforms; and Digital Subscriptions and Content, including the sale of subscriptions to Playboy programming and trademark licensing for online gaming products.

As of the 2020 re-organization the business had four main market categories:
* Sexual Wellness, comprising own-branded [[lingerie]] and [[sexual amenities]] including [[Cannabidiol|CBD]] products. This segment contributed over 40% to revenue in 2020.<ref name="MtnCrest Inv Pres">{{Cite web|title=Mountain Crest Investor Presentation|url=https://www.sec.gov/Archives/edgar/data/1803914/000110465920110690/tm2032160d1_ex99-2.htm|access-date=13 March 2021|website=www.sec.gov}}</ref>
* Style & Apparel, comprising licensed fashion sales globally, especially in China, where it is the leading men's fashion brand with over 3500 stores. This segment contributed around 52% of revenue in 2020.<ref name="MtnCrest Inv Pres" />
* Gaming and Lifestyle, comprising its chain of licensed Playboy Clubs and digital gaming ventures in partnership with [[Scientific Games]] and [[Microgaming]].<ref>{{Cite web|title=Playboy CEO on telling the story from a female perspective|url=https://finance.yahoo.com/video/playboy-ceo-telling-story-female-154907068.html |access-date=13 March 2021 |website=finance.yahoo.com|language=en-US}}</ref> This segment contributed 3% to 2020 revenue.<ref name="MtnCrest Inv Pres" />
* Beauty & Grooming, comprising skincare, beauty and grooming products. This segment contributed around 2% to revenue in 2020.<ref name="MtnCrest Inv Pres" />

The company's [[Playboy Foundation]] provides grants to non-profit groups involved in fighting [[censorship]] and researching [[human sexuality]].

The company licenses the Playboy name, the [[Rabbit]] Head design and other images, trademarks, and artwork to "appear on a wide range of consumer products including apparel, accessories, footwear, lingerie, jewelry, fragrances and home fashions." Its licensed products generate "more than $3 billion in global sales in more than 180 countries."<ref>{{Cite web|title=About {{!}} PLBY Group|url=https://www.plbygroup.com/about/ |access-date=13 March 2021 |website=www.plbygroup.com |language=en}}</ref> The company's trademarks and copyrights are critical to the success and potential growth of its business as "Playboy is one of the most recognized, celebrated and popular consumer brands in the world."<ref>{{cite web | url=http://imglicensing.com/brands-and-clients/playboy/ | title=IMG Brand and clients | access-date=7 October 2013 | archive-url=https://web.archive.org/web/20130930140835/http://imglicensing.com/brands-and-clients/playboy/ | archive-date=30 September 2013 | url-status=dead}}</ref> In 2019, Playboy ranked number 21 among the Top 150 Global Licensors by ''License Global'' magazine.<ref>{{Cite web|date=27 November 2019 |title=Top 150 Leading Licensors of 2019 |url=https://www.licenseglobal.com/rankings-and-lists/top-150-leading-licensors-2019 |access-date=10 June 2021 |website=licenseglobal.com|language=en}}</ref> As of 2013, the licensing accounts for about 65% of revenue.<ref>{{Cite web|last=Bain|first=Marc|title=Playboy has big plans but Wall Street is unimpressed |url=https://qz.com/1972286/playboy-goes-public-again-but-wall-street-is-unimpressed/ |access-date=13 March 2021 |website=Quartz |date=12 February 2021 |language=en}}</ref>

PB Lifestyle Ltd. is promoted by [[Mumbai]]-based entrepreneurs. Following their interests in media and entertainment, PB Lifestyle Ltd. has signed the master and exclusive franchise/licensee agreement with Playboy Enterprises USA (for ten years) for the use of the Playboy brand in India for various businesses.<ref name="Economic Times">{{cite news|title=Playboy Enterprises plans to open clubs, cafes and retail stores in India |url=http://articles.economictimes.indiatimes.com/2012-11-01/news/34857624_1_macau-and-cancun-playboy-enterprises-open-retail-outlets |archive-url=https://web.archive.org/web/20130113230436/http://articles.economictimes.indiatimes.com/2012-11-01/news/34857624_1_macau-and-cancun-playboy-enterprises-open-retail-outlets |url-status=dead |archive-date=January 13, 2013 |access-date=16 December 2012 |newspaper=The Economic Times |date=1 November 2012}}</ref> PB Lifestyle representatives have also stated that the company will adapt the Playboy brand to suit India's decency standards and will not allow content/material that is deemed "lascivious or appealing to prurient interests".<ref name="BBC News">{{cite news|title=India to get first Playboy Club in Goa|url=https://www.bbc.co.uk/news/world-asia-india-20164183 |access-date=16 December 2012 |work=BBC News |date=1 November 2012}}</ref>

Playboy first entered the Chinese market in a 1988 licensing deal with Hong Kong–based Chaifa Group. By the early 1990s, Licenses were divided into subcategories of products and sold to mainland manufacturers. The company claimed roughly 650 stores by 2003.<ref>{{Cite web|last=Hunwick|first=Robert Foyle|title=Playboy Is Ditching the Sex and Betting on China|url=https://foreignpolicy.com/2016/02/15/playboy-is-ditching-the-sex-and-betting-on-china/ |access-date=19 March 2021 |website=Foreign Policy|language=en-US}}</ref> This had grown to 3100 by 2015.<ref name="PR-China">{{Cite press release|title=Playboy Expands Licensing Presence in China|url=https://www.prnewswire.com/news-releases/playboy-expands-licensing-presence-in-china-300078380.html |date=6 May 2015 |access-date=19 March 2021 |website=PR Newswire |publisher=Playboy Enterprises |location=Los Angeles |language=en}}</ref> The company has attempted to open a club in Shanghai, once in 2004,<ref>{{Cite news|date=9 December 2004 |title=China officials halt Playboy club |language=en-GB |url=http://news.bbc.co.uk/2/hi/business/4082773.stm |access-date=19 March 2021}}</ref> and again in 2017.<ref>{{Cite web|title=Playboy Club - Club, Shanghai {{!}} SmartShanghai|url=https://www.smartshanghai.com/venue/14108/playboy_club_shanghai|access-date=19 March 2021|website=www.smartshanghai.com}}</ref> In May 2015, Playboy signed a 10-year licensing agreement with Handong United to manufacture and distribute fashion apparel.<ref name="PR-China" />