Following Thursday’s WWE conference call highlighting the Q2 financial results, Chris Harrington of WrestleNomics posted several Tweets analyzing some of the figures reported by WWE in both the call and the financial report released this week.
In WWE’s breakdown of its Q2 financials, the company listed revenue generated from TV, live events, merchandise, etc, and there was one revenue stream labeled “Other Media”. The category listed a total revenue of $49 million, and Harrington believes “Other Media” referred mostly to money generated from the WWE Greatest Royal Rumble event which took place back in April in Jeddah, Saudi Arabia.
Due to certain confidentiality agreements which are in place, WWE was not at liberty to divulge specifics about the income generated by Greatest Royal Rumble, and during the conference call, WWE Co-President George Barrios did note the “Other Media” category also contained revenue from non-core programming such as Total Divas and Total Bellas. Barrios did acknowledge, however, that most of the revenue in the category came from Saudi Arabia.
#1: A lot of people picked up on the “Other” category having the GSA money. WWE also noted that it included other non-core programming like Total Divas/Bellas, but acknowledge most of it was driven by Saudi Arabia. Cited confidentiality clauses for why lack of specificity.
— Chris Harrington (@mookieghana) July 26, 2018
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I don’t know what triggers investors one way or another. If you take out the $49m of Other Media money (probably from Saudi Arabia), the numbers are very different. Attendance is falling. Social Media growth is slowing. New TV value already baked into share price. Corp costs up.
— Chris Harrington (@mookieghana) July 26, 2018
Because WWE successfully implemented a model where they can still monetize their stagnant audience more and more through raising ticket prices and increasing number of overall live events while successfully relying on escalating contractual TV escalators. WWE is doing lots right.
— Chris Harrington (@mookieghana) July 26, 2018
Growth in Twitter followers was slowest quarter in years. Likewise, without MMC driving interest, FB barely moved. However, the other platforms category (likely instagram, snapchat, pintrest, etc) keeps growing strongly. #wweq2 #wrestlenomics pic.twitter.com/QZcVKo0zun
— Chris Harrington (@mookieghana) July 26, 2018
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