This is the transcription of the video.

Irene Kim: Playboy there was a time when he was everywhere.Its most successful edition came to sell more than 7 million copies.In the early 2000s, the Playboy logo was everywhere, from jewelry to tattoos, and bunnies walked through all movie screens and even in reality shows.But Hugh Hefner died, Playboy's original clubs have closed and the sales of the magazine have reduced to less than 4% of what used to be.What happened?

In 1953, former writer Hugh Hefner noticed a demand in magazines for men.Recruited 45 investors who gathered 8.000 dollars (7.000 euros), a young Hef was ready to launch what would become Playboy.Originally Hefner wanted to call him Stag Party, but was rejected by Stag Magazine magazine, so a friend of his suggested the name of Playboy, and he stayed like this.It was his own hefner who ideal the now iconic Playboy logo.He thought that a tuxedo rabbit would suggest something "beautiful, playful and sexy".Without an office where to work, Hef set up the first number of Playboy in his apartment at the kitchen table.Marilyn Monroe appeared on the cover and on the central page.But Monroe never posed for playboy.Hefner bought old photos in which Monroe had posed under a pseudonym, without having any idea that one day they would be part of a magazine's article.The star never was paid for his debut in Playboy.However, the first issue was published in December 1953.It was a great success, the magazine sold the 7.000 copies at 0.50 dollars each.

Hefner immediately invested his profits in Playboy, expanding his staff.The distribution grew rapidly, partly due to the lack of journal competition.But not only was playboy one of the first to publish color photographs of naked women, but it was the concept of playmate that differentiated it from the rest.Each number presented to the “Playmate of the month”, starting with the then hefner girlfriend and employee of the Subscription Department of Chalaine Karalus, aka Janet Pilgrim.Hefner described the playmates as women could be "the new secretary of your office" or the "girl who sells you shirts and ties".In other words, a normal woman who could know in real life, not a professional and distant model.The designs of the photos were suggestive, with the Playmate revealing more and more until they are completely naked on the central page.

At the end of thefiftys, the magazine sold a million copies per month.And although it was a popular joke to affirm that one only Playboy was bought by the articles, the magazine established a reputation of literary excellence, publishing in -depth interviews with all kinds of cultural icons and extracts of writers highly valued like James Baldwin.Even when a real competitor was launched, Penthouse, Playboy remained at the top, with print sales that reached 7.1 million copies in the November number 1972.Playboy obtained 12 million dollars (11 million euros) of profits that year.That is 72 million dollars (66 million euros) today.Playboy grew to be more than a magazine, it was a lifestyle.Hefner expanded Playboy Enterprises to include the playboy clubs, designed to embody the glamorous and luxurious lifestyle marketed by the magazine.fifty.000 members joined the original playboy club in Chicago in their first year.Soon, there would be 23 playboy clubs worldwide.

Bobbie Walters: It was an incredible place to be.It was magical.

Kim: She is Bobbie Walters.He worked as a bunny at the Playboy Club in New York, and later in Miami.

Walters: In New York there were 100 girls.There were six different floors.So you could enjoy a show, enjoy a gourmet dinner, you could dance to the rhythm of disco music or go down to the playmate bar and have a drink.

Kim: As for what it was to work like bunny.

Walters: Training lasted a week.Once we arrived at Club Playboy and took us to the track, we learned to do the Bunny Dip.

Given the challenge of how to invest $600 million in treasury reserves, after a lifetime of experience & months of… https://t.CO/QFUE4YQRLN

— Michael Saylor Wed Nov 18 16:15:55 +0000 2020

Recording: Well, once again, let's look at the Bunny Dip.

Walters: which is something extremely ridiculous because you are on 15 centimeter heels, tilted backwards, serving liquor.

Kim: The bunnies had to continue strict rules dictated in their bunny manual.

Walters: I told you everything about the rules, the rules, how the costume was supposed to be.

Kim: The bunnies also had a specific greeting for the guests.

Walters: You approached the table slowly, they just looked at you, "Oh my God, there is my bunny", and then you ended up approaching the table and you had to tell them, "Good night, I'm your bunny, bobbie".

Kim: And the bunnies were what really attracted people to clubs,

Walters: You could get a whiskey with soda anywhere, but you couldn't see a playboy bunny there.

Kim: But 750.000 members of the Playboy Club and the 60 million magazines sold would not last forever.Despite their early success, all Playboy clubs closed in 1986.Had been losing money for years.The changing social and political climate changed the public perception of clubs.Instead of being daring, they were now seen as degrading for women.And the rise of pornography in the 80s gave the magazine printed a serious competition.As magazines like Stuff and Maxim entered the market, the distribution continued to decrease during the 90s.Playboy also made the fatal mistake of not moving to the Internet fast enough.With the Internet boom, Playboy's online searches literally generated ads to their competitors.Playboy tried to compensate for his losses with the granting of licenses of his registered trademark logo.Millions of dollars were sold in merchandising with the rabbit logo.Playboy merchandising had a special success in Asia, especially in China, despite the laws that prohibited the sale of the magazine in that country.But it was not enough.High sales figures only generated small revenues from licenses for Playboy.Hefner tried to revive his empire with an adventure in the world of reality shows.In 2005, a reality show was pointed out in e!that her life followed with her then three girlfriends: Holly Madison, Bridget Marquardt, and Kendra Wilkinson.The Girls Next Door was issued in more than 150 countries around the world and lasted six seasons.He made Hef and Playboy a visible part of pop culture of the early 2000s.Despite its decline, Playboy helped launch races as successful as those of Pamela Anderson and Anna Nicole Smith, while stars like Naomi Campbell and Madonna appeared on their cover.President Donald Trump is particularly proud of his playboy cover.But when the company uploaded its archives to the Internet, it was too late.When Hefner died in 2017, Playboy seemed to go aimless and investors had been losing money for decades.With the lowest distribution of all time and losses of 7 million dollars a year (6 million euros), the magazine was reduced to a quarterly publication.But it seems that this is not over for playboy.In September 2018, the New York Playboy Club reopened its doors, with waitresses dressed in bunny, and the magazine is changing an image to attract a younger generation.In the summer number of 2019 there are neither models, nor actresses but three activists.Women also now play an important role behind the camera.It is a clear contrast to the origins of Playboy, when women had very little autonomy.It is still about to be seen if Playboy's efforts for being more autonomous can save the magazine.Many things have changed since Hugh Hefner began with Playboy, and it is not clear if he will survive.But the logo will always remain, and that is a legacy of billions of dollars.