WWE Publishes 2019 Financial Results

WWE Publishes 2019 Financial results

WWE has announced the economic results of the year 2019  and has shown an advance of what maybe 2020 in a press release published on its official corporate website. More details will be given in the coming hours at a press conference at which Vince McMahon will be present.

In the statement, reference has been made to the possibility of changes in the WWE Network payment methods. Next, the most relevant information:

Highlights of the fourth quarter of 2019

  • Revenue increased 18% with $322.8 million, the highest quarterly income in WWE history.
  • Operating income increased by 99.8 million dollars, which represents a growth of 87%.
  • Adjusted OIBDA1 increased 107.6 million dollars, representing a growth of 67%.

Highlights of the year 2019

  • Revenue reached 960.4 million dollars, the highest figure in the history of the company.
  • The operating income was 116.5 million dollars.
  • The adjusted OIBDA of 180 million dollars represented a record performance for the third consecutive year.
  • SmackDown made a successful transition to FOX, where the audience increased by 20% during the fourth quarter of 2019
  • NXT extended its reach, broadcasting live on the USA Network for the first time.
  • WWE completed content distribution agreements with BT Sport and ViacomCBS Channel 5 in the United Kingdom, Fox Sports in Latin America, PP Sports in China and SuperSport in Africa, providing solid platforms to reach WWE audiences in these regions.
  • The digital commitment continued to grow 10% with 34.5 billion reproductions and the hours consumed increased 7% with 1.3 billion in digital and social media platforms.

During the fourth quarter, we expanded the reach of WWE’s live programming and became even more committed to various audiences across all platforms and formats, “said Vince McMahon, President and CEO of WWE.” We believe that the value of sports live will continue to increase, particularly in the current landscape of the evolving media, and we are well-positioned to take advantage of this trend to maximize the value of our content. ”

“As we work to strengthen the commitment in 2020, we are carrying out several strategic initiatives that could increase the monetization of our content, including content distribution in the Middle East and India, as well as strategic alternatives for our direct consumer service, WWE Network, “added Frank Riddick, Acting Chief Financial Officer.

“Excluding the potential impact of these initiatives, we expect significant revenue growth based on the annual impact of our new content distribution agreements in the United States. We predict an adjusted OIBDA between $250 and $300 million. Management believes we have the potential to overcome that range, but we cannot provide additional guidance at this time. ”

Written by Editorial Staff

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