WWE Announce Record $180m Profits For 2019
Another leap forward to adjusted OIBDA, though it isn't all good news...
WWE has just released their complete set of financial reports for Q4 and 2019 and the 2019 financial year on their corporate website, with the customary earnings call set to take place later in the day.
Although the information is still being digested and there'll definitely be more to report once the conference call drops, WWE is reported Adjusted OIBDA (their preferred profit-measuring metric) of $180 million in 2019, which sees them break their previous record for the third year running.
Other successes include record high revenues of $960.4 million, SmackDown's 20% increase in viewership since moving to FOX, and a 10% increase in video views across all digital and social media platforms.
As far as negatives go, Network subscriptions fell 10% to 1.42 million in Q4 which, as pointed out by The Wrap's Tony Maglio, is below even the company's worst projections. The company's live event business remains in monetary decline as well: revenues were down 20% in Q4, though this is a result of the company holding fewer shows in North America, as average attendances have actually gone up 15%.
Revenue from consumer products (merch, etc.) also fell from $102.6 million in 2018 to $91.7 million.
Looking to the future, WWE expect to report adjusted OIBDA of $250-300 million this year, and are, per the copy, evaluating "strategic alternatives for the Company's direct-to-consumer service, WWE Network."