World Wrestling Entertainment saw its namesake WWE Network subscription video streaming service generate 1.58 million first-quarter (ended March 31) subscribers — up 2% from the same period last year, but down slightly from 1.59 million subs in Q4.
For the current second quarter, WWE projects average paid subscribers of about 1.7 million, representing a year-over-year decline of 5%.The company’s primary focus for WWE Network is the launch of a new OTT platform partnership with Endeavor Streaming and Massive.
The enhanced platform promises to bring new “features and experiences,” to viewers including delivery of content in multiple languages.
Media revenue, which includes OTT, transactional VOD and digital retail, increased to $135.4 million from $133.4 million in the prior-year quarter, primarily due to the contractual escalation of core content rights fees. The growth was partially offset by lower advertising sales, particularly on YouTube, and the unfavorable timing of advertising and sponsorship sales across other platforms.
The segment’s operating income declined nearly 55% to $16.3 million from $35.9 million.