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POOR RECEPTION FOR PLAYBOY; Sales in its U.S. television biz decline as on-demand porn opens door for rivals.(News)(Playboy Enterprises Inc.'s Bob Meyers )
Crain's Chicago Business, March, 2007 by Meyer, Gregory
Byline: GREGORY MEYER Bob Meyers is learning fast that technology and libido can be a treacherous mix. As Playboy Enterprises Inc.'s president of media, Mr. Meyers is scrambling to sustain the profitability of the company's U.S. television business. Leading the assault on the business is video-on-demand technology, which threatens to make obsolete the pay-per-view networks that Playboy has dominated for a decade, largely thanks to several big acquisitions orchestrated by CEO Christie Hefner.
Playboy's sales from domestic TV-the company's largest business-last year fell 16%, to $82.5 million. Fears of continued TV weakness led four analysts to downgrade their Playboy stock ratings to "hold'' last month. Earlier this month, Chicago-based Playboy gave...
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