WWE Corporate held their Second Quarter 2020 Fiscal Earnings Call This Afternoon. Here are some highlights;
*2nd Quarter Revenue surpassed analyst expectations at 43.8 Million. Original forecast was 11.5 – 12 million. Q2 Last Year WWE Had 10.4 Million. This number obviously includes non wrestling related revenue. A lot of digital media contributed to this.
*Wrestlemania Week Proved Big As It Generated Over 1 Billion Views On All Social Media Platforms. Up over 20% From Last Year.
*WWE Network Subscriptions Were Up 6% From Previous Quarter This Time Last Year.
*Both RAW & Smackdown Ratings Are Down 19% From Last Quarter
*LIVE Events Revenue Was a Down 98% Due To COVID-19
*Total Bella’s averages 1 million viewers and their YouTube channel is generating more income this quarter.
*RAW Continues To Draw For USA Network As They Are USA’s 3rd Most Watched Program.
*Kristina Salen Will Become CFO Officially August 3rd. She Was CFO of Etsy Previously. Vince And Team Feels The Right Team Is Now In Place
During Q & A Portion Of Call, Vince McMahon was asked if they still plan on going to Saudi Arabia later this year. Vince answer: “Based On The Climate Now, No Decision Has Been Made, But I Doubt It.”
Overall the WWE is looking for creative ways to generate revenue, As the COVID world of no LIVE shows could extend well into the third fiscal quarter.
Several projects are underway outside of Wrestling including streaming for various genres. #WhattaDay!™️