` WrestlingEpicenter.com - WWE Reports 10 Percent Revenue Increase Overall For 2007 WrestlingEpicenter.com - WWE Reports 10 Percent Revenue Increase Overall For 2007
WWE Reports 10 Percent Revenue Increase Overall For 2007

Posted By Caroline Walsh on 02/08/18


WWE announced in this morning’s financial report that Revenues increased 10% to $801.0 million with growth from across the Company’s business segments. North American revenues increased 11%, or $59.8 million, driven by the contractual escalation of television rights fees, subscriber growth of WWE Network, and higher digital advertising sales as reflected in the Company’s Media Division. In addition, revenue growth in North America also reflected the performance of Live Events, which was attributable to the staging of 34 additional events in the year, as well as the timing and performance of the Company’s film slate, including the delivery of the feature film, Fighting With My Family. Revenues from outside North America increased 6%, or $12.0 million, driven by higher television rights fees and the growth of WWE Network subscribers, particularly in the APAC and EMEA regions. Partially offsetting these factors was a reduction in Live Event revenue, particularly in the EMEA region, that was due, in part, to changes in the mix of venues. Changes in foreign exchange rates (driven by the prior year impact of Brexit on the British Pound) adversely impacted revenues by $2.0 million, primarily from the Network, Licensing and Live Events segments in the EMEA region. Refer to the 2017 Form 10-K for management’s discussion and analysis of financial condition and results of operations pertaining to all segments.

* Media Division: Revenues from the Company’s Media division increased 11% to $511.2 million from $462.6 million primarily due to the contractual escalation of television rights fees, the growth of WWE Network subscription revenue, and higher digital advertising and sponsorship sales.

* Live Events: Live Event revenues increased 5% to $151.7 million from $144.4 million in the prior year primarily due to the staging of 40 additional events (34 in North America and 6 International), which was partially offset by an 8% decline in average attendance, reflecting changes in the mix of venues and territories.

* Consumer Products: Revenues from the Company’s Consumer Products division increased 5% to $113.7 million from $107.9 million in the prior year period, with growth driven by higher royalties from the sale of the Company’s licensed toy and video game products as well as higher sales of branded merchandise through WWEShop’s e-commerce sites and distribution channels, including Amazon.

* WWE Studioa: Revenues from filmed entertainment increased to $18.6 million as compared to $10.1 million in the prior year. The increase in revenue was due to the performance and timing of results from the Company’s portfolio of movies, including the delivery of the feature film, Fighting With My Family.