Say what you will about Joe Francis, no one can accuse him of failing to see an opportunity when was right in front of him. For Francis, it was in softcore porn. Producing adult films requires pages of laws that must be followed and compliance documented, various permits, adherence to districting ordinances, and so on. Or, you can just go to spring break in Cancun, pay women a trifle (such as a hat or t-shirt, per Slate) for them to expose themselves on camera, and then start churning out copies. Soon, he was making millions.
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Just how much did the franchise earn? Celebrity Net Worth reports that the franchise “generated hundreds of millions in revenue” while it was in operation. Yet as HuffPost reported in 2013, when the company was dragged into court for bankruptcy proceedings, the business claimed it had $50,000 in assets. However, that claim might not have been true, as legal filings in the case claimed that the brand, between its video sales, its magazine, clothing lines, and other assets, was worth closer to $20 million.
Where did it all go? Hard to say. He’d been hit with multiple civil judgments, including an eight-figure judgment he was ordered to pay to casino mogul Steve Wynn, although whether or not he paid any of those bills is unclear. Meanwhile, the franchise is still around, possibly in name only; according to the Wall Street Journal, the brand was sold to another adult entertainment production company in 2014.
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