WWE has released some new financial information and the company is reporting record revenue for the second quarter of 2016. They’ve also announced that the WWE Network averaged 1.52 million paid subscribers in the second quarter of 2016. It was also noted in the full press release the the subscriber count reached 1.82 million following WrestleMania 32. WWE issued the following:
WWE® Reports Record Revenue and Q2 2016 Results
Second Quarter 2016 Highlights
* Revenue increased 32% (13% excluding the timing impact of WrestleMania) to a record $199.0 million as WWE’s Live Event and Network segments achieved their highest quarterly revenue in Company history
* OIBDA2 of $7.5 million was in line with the Company’s guidance
* WWE Network reached a record of 1.52 million average paid subscribers over the second quarter 2016, which represented a 25% increase from the second quarter 2015
* SmackDown transitioned to a live format on USA Network. Since July 25, WWE’s flagship programs, Monday Night Raw and SmackDown, have and will continue to feature unique talent and storylines
* Through the first six months of the year, digital engagement metrics continued to grow with video views up over 100% to nearly 8 billion and social media engagements up 39% to 570 million versus the prior year
* The Company announced a multi-year content distribution deal in China with PPTV, the return of a WWE live event to Shanghai in September and the signing of the first-ever Chinese talent
“I continue to be pleased with the execution of our strategy to optimize the long-term value of our content,” stated Vince McMahon, WWE Chairman and Chief Executive Officer. “Progress on this objective is evidenced by the continued year-over-year growth of WWE Network, the transition of SmackDown to a live format every week and the completion of our first exclusive content agreement in China.”
George Barrios, WWE Chief Strategy & Financial Officer, added “We achieved a 25% increase in average paid subscribers to WWE Network and generated earnings that were in line with our guidance. Over the past 12 months we delivered record revenue of $703 million. Additionally, for the first half of 2016, we delivered revenue growth of 13% from the prior year period and our digital video views increased by more than 100% to nearly 8 billion and our social media engagements increased 39% to 570 million.”
