WWE Q1 2020 Financials Released: Revenue Up, Paid Network Subs Down
All you need to know from WWE's latest financial reports.
WWE released their full Q1 2020 financials yesterday, accompanied by the usual investors' conference call, and delivered a largely positive set of results heading into what will ultimately be a challenging Q2.
The big positives are that revenue and profits are both way up. WWE brought in $291 million in revenue compared to Q1 2019's $182 million and leapt from a loss of $7.6 million for the same period last year to $24 million in profits this time around, owing largely to the increase in TV rights fees. These figures are also considerably higher than previous Wall Street forecasts.
Average paid Network subscriptions fell from 1.584 million in Q1 2019 to 1.461 million this time around. Raw's ratings continue to decline at a higher rate than the cable average, dipping 16% compared to cable's 5%, though SmackDown's numbers are up 16% as a result of the move to FOX last year.
As far as live events go, WWE continues to lose money in this realm, dropping $3.2 million compared to Q1 2019's $200,000.
WWE's stock price increased from $39.02 at close of business yesterday to $43.75 following the release of these reports. See WWE's corporate website for all relevant documents.