Now in their late 60s, my parents are still writing, navigating an increasingly unrecognizable media landscape. The remaining magazines they freelance for have smaller budgets, and book advances are typically a fraction of what they once were, making it harder to eke out a living as a full-time writer.
While Playboy remains an influential brand, its business model has changed too: in 2020, new CEO Ben Kohn announced that like so many other publications, the magazine would be shuttering its print editions and move entirely online. That same year, it became a public company, trading on the NASDAQ exchange as “PLBY.”
From its inception in 1953, Hugh Hefner steered Playboy into a brand that represented many different things to different people. Some saw it as a roadmap towards an aspirational lifestyle; to others it was an emblem of free speech and expression; to still others it represented all that was wrong with modern heterosexual culture and was a symbol of the exploitation of women under patriarchy.
However people felt about Playboy, its journalism was always central to its cultural relevance: where else could you get an in-depth interview with Martin Luther King Jr. (1965) or Palestinian political leader Yasser Arafat (1988) and read fiction by Joyce Carol Oates (1970), all alongside centerfolds starring the likes of Marilyn Monroe (1953), Anna Nicole Smith (1992), and Dita Von Teese (2002)?
To see a publication with such an extensive history shutter its print magazine in 2020 felt like a real loss.
Since then, I’d been mulling over a new angle for Playboy. Is there a way to revive the magazine and be financially soluble? Can the magazine retain its core tenets while expanding inclusion along the axes of race and gender? I had some ideas for a path forward, so I set up a meeting earlier this year with Playboy CEO Ben Kohn, who I had been indirectly introduced to (more on that here).
Before our meeting, I had poured over all of Playboy’s publicly available financial records and had a working idea of where the company stood. At the restaurant in Brentwood, Kohn ordered a stack of pancakes and spent the hour regurgitating one liners I had heard him say in countless interviews. (“The brand is popular among the Gen Z crowd…”) But I knew that Playboy was in debt and that its stock was down. From personal experience, I knew that Gen Z didn’t really register the brand as "cool," and that the cheap clothes they license with PacSun weren’t anything I’d ever wear.
Ben — who has a background in private equity — didn’t seem to share in my enthusiasm about the value of resuscitating the magazine. Instead, he talked about the digital platform Playboy Club, which is comparable to a thoroughly unexceptional version of OnlyFans.
In the past, Kohn has stated that Playboy is “the one platform that has a true brand that stands behind it.” But the brand was built on journalism. Once you sacrifice that, what’s left?