Penthouse magazine, typically known as the raunchier rival of Playboy, is ceasing its print publication after 50 years, and will be available in digital format only. This comes just months after Playboy announced it would no longer feature nude photos within its pages, beginning with its March 2016 issue.
— The Verge (@verge) January 18, 2016
The Wall Street Journal reports that adult publications like Penthouse magazine and Playboy have taken huge hits in recent years since adult content is easily found online–and often for free.
Penthouse magazine once sold over five million copies. Business waned after founder Bob Guccione filed for bankruptcy in 2004 and eventually lost control of the company. Now operated by FriendFinder Networks, they, too, declared bankruptcy in 2013.
Penthouse magazine will close its New York offices and move to FriendFinder Networks offices in L.A.
The publisher issued a statement regarding these big changes for Penthouse magazine.
“Reimagined for the preferred consumption of content today by consumers, the digital version of Penthouse Magazine will combine and convert everything readers know and love about the print magazine experience to the power of a digital experience,” the statement reads.
“This move will keep Penthouse magazine competitive in the future and will seamlessly combine our unmatched pictorial features and editorial content with our video and broadcast offerings,” CEO Jonathan Buckheit added.
— MarketWatch (@MarketWatch) January 18, 2016
It shouldn’t come as a big surprise that Penthouse magazine sales have fallen drastically and mandate this kind of business move. The internet makes a wealth of porn available at reader’s fingertips.