• WWE Reports A Revenue Of $255.8 Million For Q3, Vince McMahon Comments
Prior to releasing 18 wrestlers today, WWE revealed the financial results of the the 3rd quarter of 2021.
WWE reported a revenue of $255.8 million for Q3, an increase of 15% ($34.2 million), at an operating income of $64 million.
Vince McMahon commented the following:
“During the third quarter, we returned to live event touring with record average attendance, driving our better-than-expected performance.
Even with only one large-scale international event due to COVID-related circumstances, we will exceed our previous financial guidance given the overall strength in each of our business lines.
We think our performance highlights the strength of our brand globally and supports our belief that we are well-positioned to maximize the value of our content and drive long-term shareholder value.”
You can read the press release below:
WWE® REPORTS THIRD QUARTER 2021 RESULTS
Third Quarter 2021 Highlights*
*(All comparisons are versus the prior year period unless stated otherwise)
– Revenue was $255.8 million, an increase of 15% or $34.2 million, primarily driven by higher ticket sales and, to a lesser extent, venue merchandise sales, resulting from the Company’s return to ticketed live events, including SummerSlam
– Operating income was $64.0 million, an increase of 1% or $0.6 million, benefitting from the growth in revenue and the absence of COVID-associated severance expense as compared to the prior year. This benefit was largely offset by higher television and event-related production expense
– Adjusted OIBDA1 was $77.9 million, a decrease of 8% or $6.4 million. Adjusted OIBDA in the prior year quarter excludes COVID-associated severance expense
– WWE returned to live event touring beginning July 16, 2021, with strong demand for tickets that outpaced expectations. WWE live events in North America attracted the highest quarterly average attendance in more than a decade
– SummerSlam was held at Allegiant Stadium in Las Vegas in front of a record-breaking, sold-out crowd of more than 51,000 fans. As the most watched SummerSlam in the Company’s history, the event also set a record for sponsorship and grew merchandise sales by 155% compared with 2019’s SummerSlam
– Digital video views were a record 12.8 billion, an increase of 39%, and hours consumed were a record 411 million, an increase of 20%, across digital and social platforms
– Return of capital to shareholders totaled $31.0 million, including $21.9 million in share repurchases and $9.1 million in dividends paid
WATCH: Lita Removes Trish Stratus’ Clothes:
• ON THIS DAY IN WWF HISTORY (November 4, 1996) – WWF Monday Night RAW
On this day in 1996, the World Wrestling Federation aired another episode of their weekly TV show ‘WWF Monday Night RAW’.
It was broadcasted from the War Memorial Coliseum in Fort Wayne, Indiana and featured pre-taped matches, interviews & storyline segments on the road to the ‘WWF Survivor Series 1996’ PPV.
Here’s the match-card:
1. Goldust vs. The Stalker
2. The Sultan vs. Alex “The Pug” Porteau
3. Fake Razor Ramon vs. “Wildman” Marc Mero