WWE Network Q4 subs up 7%
February 7, 2019
By Nik Roseveare
World Wrestling Entertainment (WWE) has reported that Q4 revenues increased 29 per cent on the same period last year to $272.5 million (€240m).
The WWE Network – the company’s SVoD service – saw average paid subscribers increase by 7 per cent to approximately 1.59 million.
The entertainment juggernaut also reported that full year revenue increased 16 per cent to $930.2 million, the highest in the company’s history. Operating income increased 51 per cent to a record of $114.5 million.
Digital engagement continued to grow in 2018 with video views up 57 per cent to 31.4 billion and hours consumed up 77 per cent to 1.2 billion across digital and social media platforms.
“In 2018, WWE generated the highest level of revenue and earnings in the company’s history by leveraging our brand strength to increase the monetisation of our content worldwide,” commented Vince McMahon (pictured), Chairman and Chief Executive Officer. “Our long-term growth strategy will continue to focus on content creation, digitisation and international development.”
George Barrios, WWE Co-President, added “We increased revenue by nearly $130 million, and achieved a record level of Adjusted OIBDA and network subscribers. We expect to balance 2019 revenue growth with investment in strategic areas that extend the moat around our business, enabling us to continue our business transformation and maximise shareholder value.”