Say what you want about WWE’s current product (and we all do), but Vince McMahon still knows how to make his company rake in cash!
WWE announced the following in regards to their Q4 financial results:
WWE® Reports Record Results For Fourth Quarter and Full Year 2018
Fourth Quarter 2018 Highlights
* Revenues increased 29% to $272.5 million as compared to the prior year quarter
* Operating income nearly doubled to $53.4 million from $27.0 million in the prior year quarter
* Adjusted OIBDA increased 57% to $64.4 million, exceeding Company guidance and representing an all-time record quarter
* WWE Network average paid subscribers increased 7% to approximately 1.59 million paid subscribers, consistent with Company guidance
Full Year 2018 Highlights
* Revenue increased 16% to $930.2 million, the highest in the Company’s history
* Operating income increased 51% to a record of $114.5 million
* Adjusted OIBDA increased 31% to $178.9 million, exceeding Company guidance and representing all-time record performance for the second consecutive year
* International revenue increased 58% to $317.8 million from $201.3 million in the prior year, the highest in the Company’s history and the first-time international revenue has exceeded $300 million
* WWE completed agreements with USA Network (NBCU) and Fox Sports, effective October 1, 2019, which increase the average annual value (AAV) of its U.S. distribution to 3.6 times that of the prior deal
* Produced new, large-scale international events (Greatest Royal Rumble, Crown Jewel and Super Show-Down) and compelling content across platforms, including the first all women’s pay-per-view, WWE Evolution (WWE Network) and the launch of Miz & Mrs. (USA Network)
* Digital engagement continued to grow with video views up 57% to 31.4 billion and hours consumed up 77% to 1.2 billion across digital and social media platforms
STAMFORD, Conn., February 7, 2019 – WWE (NYSE: WWE) today announced financial results for its fourth quarter ended December 31, 2018.
These numbers are beyond impressive. But, dig a little deeper, and you will notice that a good chunk of the revenue increase came from the money made off of Crown Jewel and Super Show Down. The Suadi government paying WWE tens of millions upfront and Victorian state government in Australia giving WWE use of the Melbourne Cricket Ground free of charge in the hope the event would attract tourists ensured both events would be MEGA profitable.
Sir Mitch Says: Vince has diversified WWE’s revenue streams so much that is doesn’t matter if TV ratings and live attendance keep going down. He will keep raking in cash regardless.