Magazine circulation figures published in Britain last month seem to indicate the day of the lad mag may be passing. Loaded showed a year-on-year fall in circulation of nearly 19 per cent; Arena showed a decline of 23 per cent; FHM and Esquire suffered falls of 6 and 7 per cent. Only GQ showed an increase in the same period.

According to Dylan Jones, editor of GQ, the figures indicate men are interested in something "a little more sophisticated". Jones says GQ is a men's magazine, not a lad's mag. Nonetheless, while the readers may be that bit older - pushing 30 - that doesn't mean they are no longer interested in sex.

"Why should a men's magazine apologise for having a healthy interest in women?" Dylan argues in the English Independent newspaper. Sex and maturity are not mutually exclusive, he insists: "Sex doesn't have to be reductive or puerile."

Esquire has decided to "ditch scantily clad women form the front page", its editor, Peter Howarth, told the Independent. (As you can see on this month's cover, they have merely been relegated to a large peel-off sticker.) Howarth asks: "Whatever happened to the idea that a men's magazine could thrive by being a good read and not just a vehicle for eye candy?"

While Loaded has ended its babe-only cover policy, FHM's editor says "people who think they can only fill their magazine with topless pictures will find themselves in real trouble" as three new male titles look set to launch.

War in the marketplace seems to be a significant factor in the changing attitudes. As the market took off, there was an apparent blurring of identities. Now that the competition is increasing (another explanation for decreasing sales figures), the need to forge separate identities is leading to an emphasis on editorial content.

However, sex, especially naked women on covers, still definitely sells.