WWE Shows Record Revenue for Q2 of 2016
Second Quarter 2016 Highlights
* Revenue increased 32% (13% excluding the timing impact of WrestleMania1) to a record $199.0 million as WWE’s Live Event and Network segments achieved their highest quarterly revenue in Company history
* OIBDA2 of $7.5 million was in line with the Company’s guidance
* WWE Network reached a record of 1.52 million average paid subscribers over the second quarter 2016, which represented a 25% increase from the second quarter 2015
* SmackDown transitioned to a live format on USA Network. Since July 25, WWE’s flagship programs, Monday Night Raw and SmackDown, have and will continue to feature unique talent and storylines
* Through the first six months of the year, digital engagement metrics continued to grow with video views up over 100% to nearly 8 billion and social media engagements up 39% to 570 million versus the prior year
* The Company announced a multi-year content distribution deal in China with PPTV, the return of a WWE live event to Shanghai in September and the signing of the first-ever Chinese talent
Select WrestleMania Highlights
WrestleMania (April 3, 2016) achieved record breaking attendance, ticket sales, viewership, and social media activity. WrestleMania broke WWE’s attendance record, attracting 101,763 fans at AT&T Stadium. WWE Network reached a record 1.82 million total subscribers following WrestleMania (April 4). During WrestleMania Week, WWE Network featured 19 hours of prime-time, premier programming and subscribers watched nearly 22 million hours of content, averaging 12 hours per subscriber. WrestleMania generated more than 2.5 million mentions on Twitter in one day and over 250 million video views across WWE digital and social platforms during WrestleMania Week.
In spite of the cries from the IWC, the WWE is thriving. At least in the only way that really matters to them, financially. The WWE Network has exploded like they boasted about and everyone scoffed at. Wrestlemania revenue was through the roof. They also stand to grow considerably more now that they’ve made in-roads into China. There is no and will never be any competition for WWE because WWE is no longer just a pro wrestling company. They have turned into an Entertainment Giant. It makes you wonder what the sale of WWE might bring in, even more so with UFC recently selling for $4 billion. I think you’ll continue to see WWE grow in ways outside of the traditional wrestling product and it wouldn’t shock me some day to see scripted dramas and comedies on the WWE Network starring WWE Superstars. Pretty soon you’re going to have to start comparing WWE to the likes of the NFL and MLB and not TNA and ROH.