WWE Lose $1 Million Running Live Events In Q4 2019
TV money becoming more important...
In recent years, WWE's house show attendances have been declining rapidly, falling by over 22.2 percent. As a result, the company has decided to cut back on the number of live events they run, as WWE will only host seven live events in February and just 14 house shows in March. Dave Meltzer reported in the Wrestling Observer Newsletter that WWE Superstars were not informed about the change and are deeply unhappy as it will lead to lower wages for everyone except the top stars.
WWE's reasoning became clearer recently, however, after the Q4 2019 earnings report was released. Revenue from live events declined from $34.4 million in 2018 to $27.4 million, primarily because the company did not host a Super ShowDown like event in Australia. Ticket sales revenue in the United States also declined by $1.9 million as the company ran 14 fewer house shows, but this was partially offset by a $500,000 increase in international tickets revenue.
This ultimately combined to cause WWE to lose $1 million from running live events in Q4 2019. This is seemingly set to continue as the company plans to run even fewer house shows in 2020.
WWE's reasoning became clearer recently, however, after the Q4 2019 earnings report was released. Revenue from live events declined from $34.4 million in 2018 to $27.4 million, primarily because the company did not host a Super ShowDown like event in Australia. Ticket sales revenue in the United States also declined by $1.9 million as the company ran 14 fewer house shows, but this was partially offset by a $500,000 increase in international tickets revenue.
This ultimately combined to cause WWE to lose $1 million from running live events in Q4 2019. This is seemingly set to continue as the company plans to run even fewer house shows in 2020.
Written by Aidan Gibbons
Editor-in-Chief of Cultaholic.com Twitter: @theaidangibbons
