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                                                                      EXHIBIT 21

                                  SUBSIDIARIES

Certain subsidiaries are omitted from this exhibit because, when considered
individually or in the aggregate, they would not constitute a significant
subsidiary.

Indented names represent subsidiaries of the company under the name of which
they are indented.

<Table>
<Caption>

                                                                                                                      Percent
                                                                               Jurisdiction in                      Ownership
                                                                            which Incorporated                   By Immediate
       Name of Company                                                            or Organized                         Parent
       ---------------                                                      ------------------                   ------------
                                                                                                        

       Playboy Enterprises, Inc. (parent)                                             Delaware
         PEI Holdings, Inc.                                                           Delaware                           100%
           Spice Entertainment, Inc.                                                  Delaware                           100%
              CPV Productions, Inc.                                                   Delaware                           100%
              Cyberspice, Inc.                                                        Delaware                           100%
              MH Pictures, Inc.                                                     California                           100%
              Planet Spice, Inc.                                                      Delaware                           100%
              SEI 4 ApS                                                                Denmark                           100%
              Spice Direct, Inc.                                                      Delaware                           100%
              Spice International, Inc.                                               Delaware                           100%
              Spice Networks, Inc.                                                    New York                           100%
              Spice Productions, Inc.                                                   Nevada                           100%
           Playboy Enterprises International, Inc.                                    Delaware                           100%
              Alta Loma Entertainment, Inc.                                           Delaware                           100%
              Itasca Holdings, Inc.                                                   Illinois                           100%
              Lake Shore Press, Inc.                                                  Delaware                           100%
              Lifestyle Brands, Ltd.                                                  Delaware                           100%
              Planet Playboy, Inc.                                                    Delaware                           100%
                Playboy Canada, Inc.                                                    Canada                           100%
                Planet Playboy Brazil Licenciamento De Nomes De Dominio LTDA            Brazil                           100%
              Playboy Australia Pty. Ltd.                                            Australia                           100%
              Playboy Clubs International, Inc.                                       Delaware                           100%
                Playboy Preferred, Inc.                                               Illinois                           100%
              Playboy.com, Inc.                                                       Delaware                           100%
                Playboy Casino Australia Pty. Ltd.                                   Australia                           100%
                Playboy.com Germany, Inc.                                             Delaware                           100%
                Playboy.com Internet Gaming, Inc.                                     Delaware                           100%
                  Playboy.com Racing, Inc.                                            Delaware                           100%
                  Playboy.com Internet Gaming (Gibraltar) Limited                    Gibraltar                           100%
                Playboy.com KGLP, Inc.                                                Delaware                           100%
                SpiceTV.com, Inc.                                                     Delaware                           100%
              Playboy Entertainment Group, Inc.                                       Delaware                           100%
                Adultvision Communications, Inc.                                      Delaware                           100%
                After Dark Video, Inc.                                                Delaware                           100%
                Alta Loma Distribution, Inc.                                          Delaware                           100%
                AL Entertainment, Inc.                                              California                           100%
                Andrita Studios, Inc.                                               California                           100%
                Impulse Productions, Inc.                                             Delaware                           100%
                Indigo Entertainment, Inc.                                            Illinois                           100%
                Mystique Films, Inc.                                                California                           100%
                Playboy TV International, LLC                                         Delaware                            (1)
                  Candlelight Management LLC                                          Delaware                           100%
                    1945/1947 Cedar River C.V.                                     Netherlands                           100%
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                      PTVI Limited                                              Cayman Islands                           100%
                  Chelsea Court Holdings, LLC                                         Delaware                           100%
                  Claridge Organization LLC                                           Delaware                           100%
                    Stichting 1945/1947 La Laguna                                  Netherlands                           100%
                  Playboy TV - GmbH Germany                                            Germany                           100%
                  Playboy TV International B.V.                                    Netherlands                           100%
                  Playboy TV UK Limited                                         United Kingdom                           100%
                    Playboy TV/UK Benelux Ltd.                                  United Kingdom                           100%
                  STV International B.V.                                           Netherlands                           100%
                Precious Films, Inc.                                                California                           100%
                SEI Inc. ApS                                                           Denmark                           100%
                Women Productions, Inc.                                             California                           100%
              Playboy Gaming International, Ltd.                                      Delaware                           100%
                Playboy Cruise Gaming, Inc.                                           Delaware                           100%
                Playboy Gaming UK, Ltd.                                               Delaware                           100%
              Playboy Gaming Nevada, Inc.                                               Nevada                           100%
              Playboy Japan, Inc.                                                     Delaware                           100%
              Playboy Models, Inc.                                                    Illinois                           100%
              Playboy Products & Services International, B.V.                      Netherlands                           100%
              Playboy Properties, Inc.                                                Delaware                           100%
              Playboy Shows, Inc.                                                     Delaware                           100%
              Special Editions, Ltd.                                                  Delaware                           100%
              Spice Hot Entertainment, Inc.                                           Delaware                           100%
                SEI 1 ApS                                                              Denmark                           100%
              Spice Platinum Entertainment, Inc.                                      Delaware                           100%
              Telecom International, Inc.                                              Florida                           100%
</Table>

     (1) Playboy TV International, LLC is 99% owned by Playboy Entertainment
         Group, Inc. and 1% owned by Adultvision Communications, Inc.