WWE Announces Q4 And Record Full Year Financials
During a global pandemic that saw 100s lose their jobs, WWE has managed to turn record revenue.
WWE has today announced its Q4 and Full Year 2020 financial results – and Vince McMahon’s sports entertainment behemoth has achieved record results for last year.
The Q4 revenue numbers actually suffered a 26% drop down to $238.2 million revenue – with the absence of Saudi Arabia shows and the lack of ticket sales cited as the reason for this – but the overall Full Year revenue number stands at a mammoth $974.2 million. That Full Year figure marks a 1% increase on 2019’s $960.4 million annual revenue.
Patting himself on the back at how WWE has continued to produce live content through the ongoing global pandemic, Vince McMahon enthused:
“During the fourth quarter, we continued to produce live content in new ways, which successfully increased audience interaction and engagement. As we continued to adapt our business to the change media environment, we completed an important agreement to license WWE Network content to Peacock, which we expect will expand the reach of our brands and enhance the value of our content.”
In amongst WWE revelling in its Scrooge McDuck levels of cash, one other interesting note from this is that WWE officials stated that they expect the current COVID-19-related restrictions in place on the company to carry on through until at least the first half of 2021.
The previous belief was that April’s WrestleMania 37 could serve as a soft relaunch of WWE’s live touring schedule – at least for TV tapings – but that remains to be seen.
Elsewhere, WWE Network saw a 6% increase in paid subscribers over Q4, with the current number of paid users at the 1.5 million mark. The company also detailed how digital video views experienced a 10% increase that saw 38 billion views and 1.4 billion hours of content consumed.
WWE will be partaking in a full investors call later today.