PLBY Group, Inc. announced on December 16, 2024, the formal closing of its long-term, exclusive licensing agreement with Byborg Enterprises SA. Under this agreement, Byborg will license certain Playboy digital intellectual property and operate Playboy Plus, Playboy TV, and the Playboy Club.
The licensing agreement guarantees PLBY Group $20 million in annual minimum payments over an initial 15-year term, totaling $300 million, against 25% of the net profits from the licensed businesses. This arrangement immediately converts a capital-intensive segment into a high-margin, predictable revenue stream.
Additionally, PLBY Group entered into a securities purchase agreement for Byborg to potentially buy an additional $25 million in common stock at $1.50 per share, subject to stock price conditions and stockholder approval. This further investment opportunity, alongside the initial $22.35 million equity purchase, underscores the strategic alignment and commitment to the asset-light business model.
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