Playboy plans sex networking site

playboy Playboy is heading back to school to boost the bottom line. Riding a wave of renewed popularity among consumers around the globe, Hugh Hefner’s Playboy empire is set to launch a sexy social networking site dedicated solely to college students, its latest online venture as it tries to reinvigorate its stagnant finances.

The launch of Playboy U, which has similar features to those found on Facebook, comes as Playboy’s 54-year-old magazine continues to lose money and readers.

To compensate, Chicago-based Playboy Enterprises Inc is embarking on one of its biggest expansion efforts in years.

Playboy has cozied up to collegians before, featuring parties, promotional events and pictorials of student bodies from across the country. Now, executives hope Playboy U will help build brand loyalty among young consumers.

Backed by a hit cable TV show featuring Hefner’s three girlfriends, a Sirius radio channel and the adoration of young Hollywood stars who are again flocking to parties at the Playboy mansion, the company is trying to grow its licensing business and online presence and build an international fan base that includes a surprising legion of female fans.

Courtesy — AP