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Segments
6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segments Segments
We have three reportable segments: Direct-to-Consumer, Licensing, and Digital Subscriptions and Content. The Direct-to-Consumer segment derives revenue from sales of consumer products sold by us online direct to customers or at our Honey Birdette brick-and-mortar stores, of which there were 59 stores in three countries as of June 30, 2024. The Licensing segment derives revenue from trademark licenses for third-party consumer products and online and location-based entertainment businesses.
The Digital Subscriptions and Content segment derives revenue from the subscription of Playboy programming that is distributed through various channels, including websites and domestic and international television, and sales of creator content offerings and memberships to consumers through the Playboy Club on playboy.com.
Our Chief Executive Officer is our Chief Operating Decision Maker (“CODM”). Segment information is presented in the same manner that our CODM reviews the operating results in assessing performance and allocating resources. Total asset information is not included in the tables below as it is not provided to and reviewed by our CODM. The “All Other” line items in the tables below are miscellaneous in nature and do not relate to the previously identified reportable segments disclosed herein. These segments do not meet the quantitative threshold for determining reportable segments. The “Corporate” line item in the tables below includes certain operating expenses that are not allocated to the reporting segments presented to our CODM. These expenses include legal, human resources, accounting/finance, information technology and facilities. The accounting policies of the reportable segments are the same as those described in Note 1, Basis of Presentation and Summary of Significant Accounting Policies.
The following table sets forth financial information by reportable segment (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
Net revenues:
Direct-to-Consumer$14,504 $19,700 $33,244 $40,468 
Licensing5,272 10,288 9,357 19,982 
Digital Subscriptions and Content5,109 5,112 10,603 9,850 
All Other— — 
Total$24,885 $35,101 $53,204 $70,304 
Operating (loss) income:
Direct-to-Consumer$(2,365)$(75,002)$(1,483)$(90,058)
Licensing4,323 (65,131)6,340 (61,564)
Digital Subscriptions and Content(2,215)1,002 (2,314)393 
Corporate(8,948)(13,918)(20,675)(29,794)
All Other(7)12 (12)
Total$(9,203)$(153,056)$(18,120)$(181,035)
Geographic Information
Revenue by geography is based on where the customer is located. The following table sets forth revenue by geographic area (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
Net revenues:
United States$11,470 $14,975 $25,630 $30,634 
Australia6,689 7,608 14,823 15,136 
China3,024 7,475 4,470 14,423 
UK2,044 2,943 4,744 5,445 
Other1,658 2,100 3,537 4,666 
Total$24,885 $35,101 $53,204 $70,304