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How to transform the magazine?
The question is who do they want to market to?
Kids aren't interested in Playboy and many of those orthodox readers are probably also getting the magazine partly due to the nostalgy.
A life style brand?
They're probably over killed as a Lifestyle Brand by more agressive and dumber magazines like Maxim or Esquire or Gay's health or how's that called.
Most probably these magazines are the ones that are taking on the "younger" piece of the pie and they don't need no full nudes over there because why would you ever need nude pictures if you can get full length hardcore porn over the internet every minute you want, including all the celebrity stuff.
So this is more obsolete than ever and times are more hardcore.
Porn brand?
Again - the product is non compatible with anything that would not be hardcore substituted or even super generally interesting.
It's glamour babe stuff and vintage stuff, maybe a vintage pics library that can be subscribed to should work, I don't even know if there's any vintage video library available at Playboy or what all did they produce on video over the years?
So maybe if they would, just hypothetically put together a couple really good porn brands under the playboy umbrella and enabled those brands some exposure through cross licensing such as Playboy TV channels (I guess many of those are actually also only licensing the brand name though) all over the world, trying to make money by offering various sub-brands through internet / PPV / Hotels etc.
It SHOULD be possible to get there as Playboy IF there will be sensible plan / sensible portfolio and sensible people in place.
And maybe they could just got rid of trying to market their own outdated stuff at all or rather move it to the "Playboy classics" section of their portfolio, that could make sense, on the other hand this whole massive diversification would also most likely end up as a total disaster in case they wouldn't throw 90 pct. of the current management outside of the window, and of course let's talk about funds / liquidity.
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