Today WWE announced their third quarter earnings report for 2017, and they also announced the updated WWE Network subscriber count. In the third quarter WWE’s average paid WWE Network subscriber count grew to 1.52 million, with 1.11 million domestic subscribers. This is up from the 1.48 million paid subscribers that the WWE Network was averaging in the third quarter of 2016.
For the fourth quarter of 2017 the company projects that the subscriber count for the WWE Network will average 1.47 million.
Overall WWE revenue increased 14% to $186.4 million in the third quarter of 2017. The company issued a press release featuring the following highlights from the third quarter:
– Revenue increased 14% to $186.4 million based primarily on the strong performance of the Company’s media, licensing and live event businesses
– Operating income was $33.9 million. Adjusted and reported OIBDA reached $40.4 million, representing an all-time record quarter on a reported basis
– WWE Network’s average paid subscribers increased to 1.52 million over the third quarter 2017, consistent with the Company’s guidance
– Launched WWE Network in China with PPTV (a Suning media company). The service showcases WWE’s major live events, ground-breaking original series, documentaries and classic matches
– Launched localized weekly TV shows in Mexico and Central America. WWE Saturday Night, produced in Spanish with Fox Sports Mexico, will feature highlights of Raw and SmackDown
– Through the first nine months of 2017, digital engagement continued to grow with video views up 23% to 14.2 billion and social media engagements up 5% to 912 million from the prior year
– NBCU secured 20 new advertisers for WWE programs in the 2017-18 upfront, adding 70 over the past 3 years, and reaching a total of nearly 200 advertisers for WWE shows
“We are pleased with our continued success in growing and engaging a large, global audience across multiple platforms. The increased production of original content, our focus on localization and the further development of a diverse talent base contributed to that important achievement, reinforcing the significant scale and power of our brands,” stated Vince McMahon, WWE Chairman and Chief Executive Officer.
