WWE Reports Record-Breaking Revenue In Q1 2022 Financials
The latest from WWE's first batch of financial results of 2022.
WWE reported its latest set of financial results on Thursday, with Q1 2022 another huge, money-making success for a promotion currently enjoying its strongest era of financial prosperity.
As reported by WWE, $333.4 million came into the company in revenue during the last quarter. This is up 27% on Q1 20221 and set a new quarterly record. Increased media rights were key to this, with live event income up $23.1 year-over-year, as WWE was still holding empty-arena shows in Q1 2021. WWE 2K22, meanwhile, helped consumer product revenue to jump from $11 million to $20 million.
Elsewhere, operating incoming increased 42% to $92.4 million, while adjusted OIBDA (the promotion's preferred profit-measuring metric) reached $111.7 million, up 33% (another quarterly record).
WrestleMania 38 was touted as a particularly strong success, with WWE claiming global unique viewership was up 54% on WrestleMania 37. Average attendance for live events was down to 5,700 from 6,100 in the company's last comparable quarter (Q1 2019) with fully-attended shows, however.
Speaking on the accompanying investor call, WWE president Nick Khan put over the promotion's immense success on Peacock, stating that one-third of all Peacock subscribers watched WWE content over 'Mania weekend. In addition, he expects WWE programming to be the subject of more potential buyers than ever before during the next round of TV rights negotiations.