Wrestling media is buzzing with the news of WWE's latest financial earnings report. John Pollock of the POST wrestling website had this report...
WWE surpassed all previous profitably markers with the most successful year of the promotion’s history.
Thursday’s fourth-quarter and year-end earnings report saw the company post over $1 billion in revenue for the year with over $180 million in profit.
For the fourth quarter, they announced a net income of $63.9 million off revenues of $310.3 million for the quarter. Core content rights fees for the quarter were $153 million compared to $139.8 million in the fourth quarter of 2020.
The company had come just short of the ten-figure revenue mark last year, growing from $974,207,000 in 2020 to $1,095,000,000 over the past year.
Their income total for the year included $6.3 million spent in after-tax severance expenses when they consolidated their television, digital, and studio years last year under one umbrella. There was also a tax gain of $5.2 for a lease reduction related to the construction of its new headquarters, which will take up the lion’s share of his capital expenditures in 2022.
The company’s media division is head-and-shoulders above every other area of business and strengthened by its escalating core content rights that brought in $575.8 million for the year, which represents an increase of 7 percent increase from 2020.
Advertising & Sponsorships continue to grow with $71.5 million in revenue for the year. chief brand officer Stephanie McMahon-Levesque believes that there is no reason the division cannot be generating “hundreds of millions of dollars” in the years ahead citing their ability to monetize and leverage their talent IP in unique ways.
For the complete article, as seen on Post Wrestling, please click the link below: