WWE Reports $265.6 Million Revenue In Second Quarter 2021
A 19% revenue increase, year-on-year
WWE have reported their second quarter 2021 financial results.
Vince McMahon's promotion have declared a $265.6 million in revenue, an increase of 19% or $42.2 million, which the company puts down to a "an increase in Media segment revenue driven by the increased monetization of content and, to a lesser extent, an increase in Live Event segment revenue reflecting ticket sales from WrestleMania, the Company’s first ticketed live event since the first quarter 2020."
WWE Chairman McMahon said: "During the second quarter, we generated solid financial results as we continued to focus on building fan engagement. With the announced return to live event touring and robust ticket demand, we believe we can further consumption across platforms, maximize new business opportunities and drive long-term growth.”
Other highlights from the report include:
- Operating income was $46.3 million, a decrease of 17% or $9.4 million. WWE say this was driven by higher television and event-related production expense related to WWE ThunderDome and WrestleMania 37 and, to a lesser extent, increased personnel expense, including $8.1 million in severance expense as well as higher compensation expense as employees returned from furlough.
- Adjusted OIBDA was $68.1 million, a decrease of 7% or $5.4 million.
- Digital video views were a record 11.2 billion, an increase of 13%, and hours consumed were a record 394 million, an increase of 5%, across digital and social platforms.
- Return of capital to shareholders totalled $27.9 million, including $18.8 million in share repurchases and $9.1 million in dividends paid.
The report can be read in full here.