WWE Financials: WWE Media Division Sees 12% Growth – PPV Sees Decline
Posted by Larry Csonka on 05.01.2014
Thanks to the launch of the WWE Network…
- In today's first quarter 2014 financials report, the WWE announced a 12% growth in Media, thanks to the launch of the WWE Network. They unfortunately saw a decline in PPV business in the final quarter before all PPV heads to the WWE Network…
"Network revenues, which include revenue generated by WWE Network, pay-per-view and video-on-demand, increased 15% to $18.4 million from $16.0 million in the prior year quarter as the ramp-up of network subscribers and subscription revenue more than offset a decline in pay-per-view revenue. WWE Network, a 24/7 streaming network that provides access to live and scheduled programming, including all 12 live pay-per-view events, as well as a comprehensive video-on-demand library, launched on February 24, 2014. The network generated $4.4 million in subscription revenue with approximately 495,000 subscribers at quarter-end, and a retail price of $9.99 per month. Following the broadcast of WrestleMania 30, which aired live April 6th on WWE Network and on pay-per-view through cable and satellite providers, the Company announced that WWE Network had reached over 667,000 subscribers(Current subscriber number assumes full compliance with subscription terms (including the six month commitment).
The $4.4 million in network subscription revenue was partially offset by a $1.3 million decline in pay-per-view revenue. Pay-per-view revenue declined 9% to $13.8 million driven by a 10% decline in buys for the Company's Royal Rumble and Elimination Chamber events that reflected weaker performance in several international markets. None of the pay-per-view events in the current year quarter were included on WWE Network."
Royal Rumble 2014: 467,000 buys (down 45,000 buys from 2013)
Elimination Chamber 2014: 183,000 buys (down 30,000 buys from 2013)
Buys From Prior Events: 28,000 (up 8,000 from 2013)
Total For 2014: 678,000 buys (down 67,000 buys from 2013)