Welcome to our dedicated page for PLBY Group news (Ticker: PLBY), a resource for investors and traders seeking the latest updates and insights on PLBY Group stock.
PLBY Group, Inc. (symbol: PLBY) is a globally recognized company that connects consumers with a diverse range of products, services, and experiences designed to enhance their lifestyle. Operating in four main categories—Style and Apparel, Digital Entertainment and Lifestyle, Sexual Wellness, and Beauty and Grooming—PLBY Group leverages its iconic brand to drive revenue across multiple segments.
PLBY Group's business model is structured into three key segments: Direct-to-Consumer, Licensing, and Digital Subscriptions and Content. The company's Direct-to-Consumer segment offers products directly to customers via online platforms and retail stores, focusing on high-quality apparel and personal care items. The Licensing segment involves partnerships with other brands to extend the reach and visibility of PLBY’s diverse product lines globally. Additionally, the Digital Subscriptions and Content segment provides exclusive content and lifestyle experiences, catering to a broad spectrum of consumer interests.
In recent news, PLBY Group has made significant strides, ending the third quarter with approximately $22.0 million in restricted and unrestricted cash. This financial stability has allowed the company to focus on executing key goals and shifting towards initiatives aimed at driving profitable growth. CEO Ben Kohn has highlighted improved performance and strategic moves, such as the revitalization of the Playboy brand in China through a major joint venture, showcasing the company's commitment to reinvigorating its global presence.
PLBY Group remains dedicated to helping consumers look good, feel good, and have fun. With ongoing projects and strategic partnerships, the company continues to innovate and adapt to the evolving market trends, ensuring sustained growth and customer satisfaction. For more information or media inquiries, contact press@plbygroup.com.
PLBY Group has finalized a strategic partnership with Byborg Enterprises SA, featuring a 15-year exclusive licensing agreement worth $300 million in minimum guaranteed payments. The deal includes Byborg licensing Playboy's digital IP and operating Playboy Plus, Playboy TV, and Playboy Club, with annual payments of $20 million against 25% of net profits.
Additionally, Byborg commits to purchase $25 million of new PLBY shares at $1.50 per share, subject to stockholder approval. The partnership aims to leverage Byborg's 70 million daily visitors and technology expertise to expand Playboy's reach and transition to an asset-light business model, with expected completion by June 30, 2025.
PLBY Group (NASDAQ: PLBY) announced its Q3 2024 financial results, highlighting a 21% decline in total revenue to $12.9 million from the prior year's $16.3 million, primarily due to a decrease in licensing revenue. The company reported a net loss of $33.8 million, up from $7.1 million in Q3 2023, due to impairment charges and reduced licensing income. Adjusted EBITDA swung to a loss of $1.8 million compared to a positive $1.8 million in the previous year. PLBY restructured its debt, reducing senior debt by $66 million to $152 million, and issued $28 million in convertible preferred stock. The company secured a strategic investment from Byborg Enterprises, raising $22.35 million and expects $300 million in guaranteed minimums over 15 years from a pending licensing agreement. PLBY also relaunched Playboy.com and plans to revive Playboy magazine in early 2025.
PLBY Group has completed a $22.35 million private placement through the sale of 14.9 million newly issued, unregistered shares of common stock to an affiliate of Byborg Enterprises SA. The shares were sold at $1.50 per share and are subject to a one-year lock-up period, with exceptions. Following the placement, PLBY Group's total outstanding common stock reached approximately 89.59 million shares.
PLBY Group (NASDAQ: PLBY) announced it will release its third quarter 2024 financial results on Tuesday, November 12, 2024, after market close. The company will issue a press release with quarterly results and management commentary, followed by an analyst Q&A session at 5 p.m. Eastern Time. The session will be webcast and accessible through the company's investor relations website. The format focuses on addressing key questions rather than prepared remarks.
PLBY Group has announced a strategic partnership with Byborg Enterprises SA, featuring two key components. First, Byborg will purchase 14.9 million newly issued shares at $1.50 per share, totaling $22.35 million, with closing expected by November 8, 2024. Second, the companies signed a non-binding LOI for Byborg to license Playboy's digital IP and operate certain digital businesses, with $300 million in minimum guaranteed payments over 15 years.
The partnership aims to develop new revenue streams including AI services and webcam products. Starting 2025, PLBY will appoint a Byborg-nominated director and add a new independent director. Byborg's total holdings will be capped at 29.99%, with an initial one-year lock-up period for the purchased shares.
PLBY Group announced that its Board of Directors has unanimously rejected an unsolicited, non-binding offer from Cooper Hefner and Hefner Capital to acquire the Company's Playboy assets. The proposal, publicly disclosed on October 21, 2024, was deemed to substantially undervalue the Playboy assets and not serve stockholders' best interests. CEO Ben Kohn stated that the company will continue pursuing its Playboy-focused, asset-light model to better support long-term stockholder value. The Board will continue evaluating all options and opportunities for Playboy.
PLBY Group (NASDAQ: PLBY), a leading lifestyle company and owner of Playboy, announced its participation in the Lake Street Capital Markets 8th Annual Best Ideas Growth Conference on September 12, 2024 in New York City.
Management will present and conduct one-on-one meetings with institutional investors, highlighting:
- The planned relaunch of Playboy magazine with an annual edition in February 2025
- The global search for the 2024 Playmate of the Year
- New licensing agreements and initiatives to improve the company's balance sheet
Interested attendees can email their Lake Street representative to schedule a meeting or contact investors@plybygroup.com for more information.
PLBY Group (NASDAQ: PLBY) has announced the return of the iconic Playboy magazine with an annual edition set for February 2025. This revival includes the relaunch of the Playmate franchise, featuring a worldwide search for the 2024 and 2025 Playmate of the Year and a new class of Playboy Bunnies. The company has also launched a redesigned Playboy.com website with exclusive content.
Mark Healy, a veteran content leader, has been appointed as Editor-in-Chief for the magazine's first print edition since 2020. The relaunch aims to revitalize the brand and expand the Playboy Club Creator Platform, embracing the creator economy and partnering with leading creators to produce dynamic content across various channels.
PLBY Group announced its Q2 2024 financial results, reporting a total revenue of $24.9 million, a 29% decline year-over-year. The company's net loss from continuing operations improved to $16.7 million, compared to $132.3 million in Q2 2023. The company's adjusted EBITDA loss was $2.9 million, a decline from a $0.1 million adjusted EBITDA loss in the prior year period. Revenue declines were mainly due to a decrease in licensing, particularly in China, and a transition of Playboy.com e-commerce to a licensing model. PLBY secured an agreement to repay senior debt at a significant discount and launched a new ATM program. They also announced the return of Playboy Magazine in early 2025, new licensing deals worth $45 million, and the launch of a redesigned Playboy.com with original content.
PLBY Group (NASDAQ: PLBY) has entered into a 7-year licensing agreement with Sunny Cusco for exclusive rights to develop and sell apparel and other licensed products on shop.playboy.com. The deal includes $7.5 million in guaranteed payments, with $1.25 million upfront and $6.3 million in minimum guarantees and excess royalties.
This partnership aims to expand Playboy's social media and commerce strategy, focusing on creator and influencer collaborations. It will leverage platforms like TikTok Shop and Instagram Shop to reach new audiences in the social commerce segment. A redesigned shop.playboy.com is expected to launch in October with new and elevated products.
PLBY Group CEO Ben Kohn emphasized that this partnership will enable Playboy to become a more comprehensive partner to creators, helping them expand and diversify their revenues in ways other creator platforms currently do not offer.
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