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The company derives much of its income from licensing rather than the magazine.In January 2011, the publisher of Playboy magazine agreed to an offer by Hefner to take the company private for .15 per share, an 18 percent premium over the price of the last previous day of trading.It is known simply as the "Lenna" (also "Lena") image in that field.Playboy's iconic and enduring mascot, a stylized silhouette of a rabbit wearing a tuxedo bow tie, was created by Playboy art director Art Paul for the second issue as an endnote, but was adopted as the official logo and has appeared ever since.From 1966 to 1976, Robie Macauley was the Fiction Editor at Playboy.During this period the magazine published fiction by Saul Bellow, Seán Ó Faoláin, John Updike, James Dickey, John Cheever, Doris Lessing, Joyce Carol Oates, Vladimir Nabokov, Michael Crichton, John le Carré, Irwin Shaw, Jean Shepherd, Arthur Koestler, Isaac Bashevis Singer, Bernard Malamud, John Irving, Anne Sexton, Nadine Gordimer, Kurt Vonnegut and J. Donleavy, as well as poetry by Yevgeny Yevtushenko.Playboy CEO Scott Flanders acknowledged the magazine's inability to compete with freely available Internet pornography and nudity; according to him, "You're now one click away from every sex act imaginable for free. Josh Horwitz of Quartz argued that the motivation for the decision to remove nudity from the magazine was to give Playboy Licensing a less inappropriate image in India and China, where the brand is a popular item on apparel and thus generates significant revenue.Among other changes to the magazine included ending the popular jokes section and the various cartoons that appeared throughout the magazine.

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The magazine generally reflects a liberal editorial stance, although it often interviews conservative celebrities.Since reaching its peak in the 1970s, Playboy saw a decline in circulation and cultural relevance due to competition in the field it founded—first from Penthouse, then Oui (which was published as a spin-off of Playboy) and Gallery in the 1970s; later from pornographic videos; and more recently from lad mags such as Maxim, FHM, and Stuff.In response, Playboy has attempted to re-assert its hold on the 18–35 male demographic through slight changes to content and focusing on issues and personalities more appropriate to its audience—such as hip-hop artists being featured in the "Playboy Interview".Celebrations were held at Las Vegas, Los Angeles, New York, and Moscow during the year to commemorate this event.Playboy also launched limited-edition products designed by a number of notable fashion-houses such as Versace, Vivienne Westwood and Sean John.

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