Felix Upton on April 25, 2019
WWE’s released their 1st quarter earnings report this morning and the news was not amazing. They are still making a lot of money, but they are 5 million short for their revenues.
The company’s operating income also reflected a loss of $6.8 million. This is a very interesting statistic because WWE’s domestic biggest show of the year WrestleMania takes place during that time as does The Royal Rumble.
Vince McMahon addressed this decline in a statement that the company put out where he placed blame on Superstars not being around as much this year compared to the last year.
“During the quarter, we continued to execute our strategy and achieved targeted financial results. While engagement metrics over the past two quarters were impacted by Superstar absences, we believe they will improve as our talent return and we launch our new season following a successful WrestleMania. We remain excited about the future, particularly with our debut on Fox in October.”
This is an interesting tactic to take, but we will just have to see how much the company improves once the Fox deal starts in October. After then it might not be hard for WWE to continue racking the profits with a guaranteed television deal on that scale for the next five years.
April 25, 2019 10:14 am
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