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Playboy is launching a social network for college students called PlayboyU, billed as an exclusive college-only non-nude social network.

I have a feeling this isn’t going to work out so well for Playboy.

Why don’t they sponsor an area on Facebook or Myspace? A much better use of their money based on major brands previous attempts at social and video networks: Bud.tv (shut down), Wal-Mart’s The Hub (shut down).

The Web site has managed to get 2,000 members from 500 colleges during early beta tests.  The site, amazingly, does not contain nudity. Well there’s your problem right there.

Playboy has overextended over the years, and profits are sagging. Online porn  basically killed them off, but the new cable show is titillating and watched by a lot more people than will admit it.

Press release at Yahoo! News.