WWE Q3 2020 Financial Results Released: Profits, Revenue, & Income Up
2020 is already the most profitable year in WWE history.
Yesterday saw WWE post its full set of Q3 2020 financial reports, revealing solid increases in key metrics.
Revenue has jumped to $221.6 million, which is an increase of 19% on Q3 2019, while net income hit $48.2 million. This brings the year’s net income to $118 million after just nine months, which, as pointed out by Wrestlenomics’ Brandon Thurston, already makes 2020 the most profitable year in WWE history:-
The increased income can be attributed to the bumper content rights fees paid by the likes of USA Network and FOX, as well as the decrease in expenses relating to live event production through the ongoing global health crisis, among other things.
Network subscriptions sat at 1.604 million, up from Q3 2019’s 1.511 million.
Speaking on the company’s earnings call, Vince McMahon spoke highly of his team of executives, citing a “new spirit” and “new vibrance.”
Chief Revenue Officer Nick Khan said the promotion is still shopping the WWE Network in hope of bringing it to a wider audience. He also confirmed that the promotion and Netflix were working on a Vince McMahon docuseries, while Chief Financial Officer Kristina Salen claimed the company hopes to find a new ThunderDome “center” with “lots of places to go” into 2021.