World Wrestling Entertainment (WWE) Feb. 7 reported a 7% (110,000) increase in fourth-quarter (ended Dec. 31, 2018) subscribers to its WWE Network over-the-top video streaming service. The platform ended the period with 1.59 million subs.
Media revenue grew 40% to a quarterly record of $205.3 million, primarily due to the distribution of certain live, in-ring programming content in international markets, which was partially offset by the timing and performance of the company’s portfolio of original movies.
Additionally, media revenue reflected the contractual escalation of core content rights fees, including license fees from the distribution of WWE’s flagship programs “Raw” and “SmackDown,” as well as increased sales of advertising and sponsorship across platforms and the continued growth of WWE Network.
“In 2018, WWE generated the highest level of revenue and earnings in the company’s history by leveraging our brand strength to increase the monetization of our content worldwide,” CEO Vince McMahon said in a statement. “Our long-term growth strategy will continue to focus on content creation, digitization and international development.”