PWTorch editor Wade Keller presents a special Thursday Flagship edition of the Wade Keller Pro Wrestling Podcast featuring a WrestleMania 36 Preview with ex-WWE Creative Team member and professional stand-up comedian Matt McCarthy.
(Search “wade keller” to subscribe in podcast app or CLICK HERE to subscribe in Apple Podcasts.)
By James Caldwell, PWTorch assistant editor
WWE reported Second Quarter 2016 revenue of $199.0 million, a record for the company.
Concerning last year’s WrestleMania quarter, WWE reported then-record quarterly revenue of $176.2 million in First Quarter 2015.
This year’s record was based on the strength of WrestleMania 32. But, WM32 was also a very expensive event, as it ate away at profits.
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WWE reported Net Income of $0.8 million, which compares to $5.1 million for a non-WrestleMania Second Quarter last year.
Specific to WrestleMania, WWE reported that Mania reduced the Media division’s operating profit by $17.5 million “as the event’s production costs more than offset its related pay-per-view revenue.”
WWE also reported quarter-ending paid Network subscribers of 1.51 million. However, WWE is anticipating a slight decline to 1.49 in the third quarter.
WWE CEO Vince McMahon remains optimistic about the long-term vision for the company.
“I continue to be pleased with the execution of our strategy to optimize the long-term value of our content,” said McMahon in Thursday’s financial announcement. “Progress on this objective is evidenced by the continued year-over-year growth of WWE Network, the transition of Smackdown to a live format every week, and the completion of our first exclusive content agreement in China.”
More Details to follow & unpack @ WWE Q2 2016 Central.
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