May 3, 2018
World Wrestling Entertainment May 3 reported a 5% increase in first-quarter (ended March 31) WWE Network subscriptions to 1.56 million. The over-the-top video service had 1.48 million during the previous-year period.
The professional wrestling media company no longer reports WWE home entertainment results, having folded disc sales into its media division, which includes legacy pay-per-view events and flagship TV programs “Raw,” and “Smackdown.”
Media revenue increased 10% to $133.4 million from $121.2 million during the previous-year period. Operating income jumped 74% to $43.6 million from $25.1 million last year.
Live event operating income decreased 22% to $2.7 million on revenue of $30.8 million. Consumer products income fell 59% to $6 million on revenue of $23.5 million.
The fiscal reporting switch is understandable considering WWE home entertainment posted Q4 operating loss of $700,000 on revenue of just $900,000, compared to operating income of $1.9 million and revenue of $4.2 million during the previous-year period. It was the unit’s first fiscal loss.