WWE Reports Third Quarter Results

Submitted By Nick Noel on 11/05/09

World Wrestling Entertainment today announced financial results for its third quarter ended September 30, 2009. To read the full report, visit http://investor.shareholder.com/wwe/releasedetail.cfm?ReleaseID=422164. Some highlights from the report: The company's Revenue totaled $111.3 million as compared to $108.8 million in the prior year quarter with their net income at $8.9 million (up from $5.3 million). They listed the company's operating income as $14.5 million, compared to $7.9 million in the prior year's same quarter. In the report, WWE announced that Summerslam had drawn 369,000 PPV buys, down from 477,000 in 2008. Breaking Point, which replaced Unforgiven, reported 169,000 buys. Night of Champions reported 267,000 buys. WWE noted that this quarter made $14.5 million in PPV revenue, down 10% from this time last year. Those are bad numbers from any point of view. 10% down is scary. WWE noted their television rights fees were $28.3 million, up from $24.4 million thanks to the rights fees from WWE Superstars on WGN America and new deals for existing contracts. Home Video revenue was up to $11.2 million from $11 million last year. WWE Classics on Demand dipped to $1.2 million down from $1.4 million last year, partially because they've still been unable to get on Time-Warner and several other cable outlets. WWE announced their Studios department made $7.5 million this quarter from the DVD sales of their films. It was also noted in the report that the company has yet to recoup its investment in John Cena's theatrical film "12 Rounds" but that is partially due to the DVD release not being included in this quarter. WWE.com revenue was up to $4.5 million from $4.0 million while revenue from WWEShop.com was down to $2.9 million from $3.9 million. So, they are generating more money for the content and advertising on the site but were unable to prevent those using WWE.com from spending less. The company's licensing revenues were down to $7.9 million vs. $10.6 million in the prior year quarter. WWE claimed that was a result of royalties being down in sales, specifically in international markets. The company's magazine end listed revenues at $3.4 million vs. $4.7 million in the prior year quarter due to reduced subscriptions. WWE reported the following in regard to their live event revenue: from our Live and Televised Entertainment businesses were $77.9 million for the current quarter as compared to $68.7 million in the prior year quarter, representing a 13% increase. * Live Event revenues were $27.2 million as compared to $20.3 million in the prior year quarter. Revenues increased 34% primarily due to higher average attendance and an increase in the number of international events. * There were 94 events, including 17 international events, during the current quarter as compared to 89 events, including 12 international events, in the prior year quarter. * North American events generated $16.6 million of revenues from 77 events as compared to $15.5 million from 77 events in the prior year quarter. North American average attendance increased 9% to approximately 5,800 from 5,300 in the prior year quarter. The average ticket price for North American events was $36.26 in the current quarter as compared to $38.21 in the prior year quarter. * International events generated approximately $10.6 million of revenues as compared to $4.8 million in the prior year quarter. The quarter-over-quarter increase reflected five additional events in the current quarter and a 38% increase in average attendance to approximately 9,100 fans. These factors were partially offset by a 19% reduction in average ticket prices to $65.59, in part due to changes in foreign exchange rates. :: DISCUSS THIS POST ON THE FORUMS! :: SEE MICKIE JAMES & THE DIVAS NUDE! :: BUY WRESTLING DVD'S THROUGH OUR STORE! :: GO BACK TO THE HOME PAGE WRESTLING EPICENTER STORE IS OPEN! THE HOTTEST WRESTLING DVD'S ARE NOW AVAILABLE! We've got hundreds of pro wrestling DVD's at your fingertips! All your favorite stars such as Hulk Hogan, Kurt Angle, Sting, Ric Flair, Bruiser Brody, "Macho Man" Randy Savage, Harley Race, Andre the Giant, Dynamite Kid, Davey Boy Smith, Bret "The Hitman" Hart, Booker T, & countless others! We've also got the Divas! Raw and extreme footage of Candice Michelle, Beulah McGillicutty, Gorgeous George, Tylene Buck, Francine, Christy Hemme, Dawn Marie, Madusa, and the rest of your favorite sexy divas! We even have got official WWE merchandise! All this can be yours in the Wrestling Epicenter Store! CLICK HERE TO GO TO THE STORE! Home | News | Editorials | Interviews | Forums | Chat Room | Store | Divas | PPV Results | TV Results | Shows | Links | Metal Epicenter | Contact Us/Staff