WWE News: WWE reports strong third quarter earnings for 2016, increase in WWE Network subscriptions
In a meeting with investors, WWE gave a report of their third quarter earnings. Here are some of the highlights:
- Revenue of $164.2 million was in line with the third quarter in 2015, which was helped greatly by the WWE series’ Tough Enough and Total Divas; 2016 revenue-to-date increased 8% from 2015 to $534.3 million.
The OIBDA (Operating income before depreciation and amortisation) of Q3 in 2016 was $24.5 million, and operating income of $18.3 million was in line with the Company’s guidance.
WWE Network subscribers increased 24% from the third quarter of 2015 to 1.46 million average paid subscribers, over the third quarter 2016, consistent with the Company’s guidance.
WWE Network’s Net Promoter Score ranked second, among major U.S. OTT (over-the-top) services, behind only Netflix. (Hulu and MLB.TV ranked 3rd and 4th)
The Company completed a content distribution deal in Germany (ProSieben) to grow WWE’s international audience.
Through the first nine months of 2016, digital engagement continued to grow with video views up 71% to 11.5 billion, and social media engagements up 43% to 873 million from the prior year.
NBCU secured 50 new blue chip advertisers for WWE programming in a two-year period.
From The Business Wire: The Company(WWE) reported Net income of $11.1 million, or $0.14 per diluted share, as compared to Net income of $10.4 million, or $0.14 per diluted share, in the prior-year quarter
The WWE Network is a long-term plan for WWE. It is also a go-to in case of any emergency, i.e., if WWE happens to lose a television deal as they did once. However, that would be a tricky situation, since it’d be hard to get millions to pay to watch Raw and Smackdown Live, something that comes on free television.
However, the fact of the matter is that the ratings, despite dropping in recent weeks, are still better than a lot of what the other shows get, so it is unlikely they would lose a TV deal anytime soon.
If you want to know how investors conference calls play out, watch below:
Triple H himself did a media call earlier this year before NXT Takeover: Dallas
For latest WWE News, live coverage and rumours visit our Sportskeeda WWE section. Also if you are attending a WWE Live event or have a news tip for us drop us an email at fightclub (at) sportskeeda (dot) com.