WWE Reports 2013 Fourth Quarter Results – Vince McMahon Comments
Posted by Larry Csonka on 02.20.2014
And so it begins…
- The WWE announced financial results for its fourth quarter of 2013 today. Here are some key notes from the financials…
Revenues totaled $118.4 million as compared to $115.1 million in the prior year
Operating loss was $12.2 million as compared to income of $2.6 million in the prior year quarter.
Net loss was $7.9 million, or $0.10 per share, as compared to income of $0.6 million, or $0.01 per share, in the prior year quarter.
OIBDA in the fourth quarter 2013 decreased to a $5.6 million loss from income of $8.5 million in the prior year quarter.
The decline in OIBDA and Operating was due to increased investment in staffing, talent and marketing to support our strategic content initiatives, including the launch of WWE Network.
Lower sales of new DVD releases and a corresponding shift in product mix to lower priced catalog titles.
Vince McMahon offered the following comments on the financials…
"During the past year, we laid the foundation for future growth and enhanced our brand strength. We have now announced the renewal of our television distribution agreement in the U.K., are continuing the negotiations regarding our domestic content, and are poised to launch our global WWE Network in the next few days. With preparations for WrestleMania 30 fully underway, we look forward to celebrating our enduring legacy and ushering in a new era as we blaze new trails in the media industry."