<em>Sports Illustrated</em> Uses YouTube, Vegas Party to Cash In on Swimsuit Issue

Swimsuits have always been a moneymaker for Sports Illustrated. But more than ever before, the magazine is generating revenue from women in bikinis using sources beyond just the annual Swimsuit Issue.

The cover model for the 46th annual Swimsuit Issue will be unveiled tonight on Late Show with David Letterman, but it won't just be that issue that brings in advertising money. The Wall Street Journal reports:

Among the deals struck by the magazine, PepsiCo's SoBe drink brand is sponsoring YouTube videos of the women featured in the issue frolicking on the Canary Islands and in Naples, Italy.

In addition, a Southwest Airlines jet emblazoned with an image of swimsuit model Bar Refaeli will whisk VIPs to a launch party in Las Vegas this week. And, as part of a days-long Vegas celebration, stunt drivers sponsored by Nissan Motor will race cars on a lot adjacent to the Luxor hotel, with swimsuit models as their passengers.

The Swimsuit Issue is such an advertising juggernaut for Sports Illustrated that it makes up about one-tenth of the magazine's total annual revenue. And this year, swimsuit-related ventures like the YouTube ads and the Vegas launch party will bring in about $3 million in additional revenue. At a time when the recession is killing the publishing industry, it's almost enough to make Sports Illustrated think about just forgetting the whole sports thing and doing swimsuits all year long.