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Playboy needs to save the brand, and split up its target demographics.
One printed edition should focus on younger men as a target audience. A mix of stylish/tasteful nudes and non-nudes, articles specific to the target demographic, a decent amount of non-nude celebs. Basically, a slightly more risqué and stylish version of Maxim/FHM.
Another printed edition should focus on Playboy's older, more sophisticated audience. Significant parts on literature, art, restaurants and politics, as well as tasteful and artistic (as opposed to stylish) nudes. A bit like a mix of The New Yorker, Vanity Fair and old-school Playboy, though a bit more sexual than the former two.
And finally, a pornographic branch, featuring high-class porn, but female/couples-friendly. Probably mainly web-based, targeting both men (with porn and articles) as well as women (with articles and porn). The image would be sexual enjoyment, the actual product porn. Would make for great up-sells in toys and lingerie.
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