Only in America would this type of business have the gall to ask for federal assistance……Have we no shame left?
Porn industry seeks $5 billion federal bailout
LA DAILY NEWS
Thursday, January 08, 2009
LOS ANGELES — In an announcement that launched a thousand unprintable puns, adult-entertainment moguls Larry Flynt and Joe Francis said Wednesday that they are asking Washington for a $5 billion federal bailout, claiming that the porn business is suffering from the soft economy.
Francis insisted in a phone interview that this is no joke or publicity stunt, though his tone suggested otherwise.
“The government’s handing out money to the auto industry,” Francis, producer of the “Girls Gone Wild” video series, said on the phone from his Santa Monica office. “Why shouldn’t it hand some to an industry the nation could not live without?”
The request, Francis said, was being made in a letter to Rep. Barney Frank, D-Mass, and Treasury Secretary Henry Paulson. The $5 billion figure, he said, reflects the decline in U.S. adult-entertainment- industry revenue from $18 billion three years ago.
If porn producers are feeling the effects of what one wire service called “the sagging economy,” the pain might be felt most acutely in the San Fernando Valley. In 2007, revenue from more than 200 Valley-based adult-content companies was estimated at $1 billion.
One adult-film star from the Los Angeles area said she is feeling the pinch.
The actress who performs as Jenna Presley said her Web site has seen a 20 percent decline in customers, about 1,000 of whom pay $19.99 a month to watch the 22-year-old perform online.
Adult DVD sales and rentals have decreased by 22 percent in the past year, the news release claimed, as viewers seek free porn online.
Flynt and Francis will have some convincing to do even in Las Vegas, judging by the reaction of Steven Hirsch, founder and co-chairman of L.A.-based Vivid Entertainment Group, the 25-year-old company that bills itself as the world’s leading adult-film producer.
“To think we’re going to go to Washington and get a bailout is a little unrealistic,” said Hirsch, who said he heard about the Flynt-Francis ploy in the media. “This is not the time to make sweeping statements. This is the time to buckle down and take the steps we need to save our industry.
“This industry is not immune from (the bad economy). People are spending less money, period.”
Hirsch said he thinks Flynt and Francis are “just poking fun at all the industries getting bailouts.”
Hirsch said Vivid isn’t suffering as badly as smaller rivals because its prominent brand name gives the company “a leg up.”
He declined to get specific about Vivid’s revenue.
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