• WWE 2019 Q3 Revenue: WWE reported their third quarter 2019 financials this morning, and announced that were $186.3 million as compared to $188.4 million in the prior year quarter, as increased revenue in the Media segment, driven by the monetization of core content, was more than offset by decreased sales of live event tickets and merchandise. Operating Income decreased to $6.4 million from $18.1 million in the prior year quarter, reflecting the decline in revenue and increases in fixed costs, including the impact of certain strategic investments, which were partially offset by a year-over-year reduction in accrued management incentive compensation. The Company’s Operating income margin declined to 3% from 10% in the prior year quarter.They hyped the Smackdown debut on Fox, which averaged 3.9 million viewers during the premier telecast, up 221% versus the same time slot over the prior four weeks on Fox.
Vince McMahon commented: “During the quarter, we remained focused on expanding the reach of WWE’s brand with the successful debut of Friday Night SmackDown on Fox Broadcast and NXT on USA Network. With our flagship programming now spanning both broadcast and cable throughout the week in the U.S. and our expanding roster of international distribution partners, we remain excited about our ability to deepen the engagement with our fans around the world.”
• WWE Network 2019 Q3 Subscribers: WWE reported their third quarter 2019 financials this morning, and announced the WWE Network averaged 1.51 million paid subscribers (down 9%), which was consistent with the Company’s guidance. It is also down from Q2 (1.68 million) and down from Q3 2018 (1.66 million). For the fourth quarter 2019, the Company projects average paid subscribers of approximately 1.43 million, representing a year-over-year decline of 10%.
• WWE Live Event 2019 Q3 Revenue: WWE reported their third quarter 2019 financials this morning, and announced live event revenues declined $3.5 million to $23.2 million due to lower ticket sales at the Company’s North America events, primarily due to weaker performance and the staging of fewer events in North America.
There were 74 total events (excluding NXT) in the current quarter, consisting of 67 events in North America and 7 events in international markets, as compared to 90 events in the prior year quarter, including 86 events in North America and 4 in international markets.
North American ticket sales declined $4.1 million during the quarter, primarily due to lower attendance and the staging of 19 fewer events. Partially offsetting these declines, the average ticket price increased 6% to $56.64.
International live event revenue of $2.3 million was essentially unchanged from the prior year quarter as the staging of three additional events was offset by reductions in the average ticket price and average attendance.