WWE Release Disappointing Q2 2019 Financial Reports
It isn't all doom and gloom, but these declines aren't pretty.
WWE have today released their Q2 2019 financial results via their corporate website and while the usual set of caveats relating to the company's size, market dominance, and stability remain, the numbers aren't pretty.
"Highlights" include revenue declining from $281.6 million to $268.9 million this time around, operating income slipping from $21.2 million to $17.1 million, and adjusted OIBDA (the company's preferred profit-measuring metric) declining from $43.5 million to $34.6 million - though this exceeds company guidance.
Elsewhere, Raw and SmackDown have suffered 14% and 11% viewership declines respectively, live event attendances are down 2%, and the WWE Network has delivered its first ever year-on-year subscriptions decline based on a single quarter, going from 1.8 million in Q2 2018 to 1.69 million in Q1 2019.
WWE's quarterly earnings call with Vince McMahon, George Barrios, and other directors goes down at 11am EST. This could be just as newsworthy as the reports themselves.
It's worth noting that any financial concerns will be eradicated by the time WWE's new TV deals kick in this October. Regardless, while they are still making money and remain relatively bulletproof, business-wise, it's hard to imagine the board being thrilled by these drops.