News
WWE News: WWE Second Quarter Earnings Report Released, Record Revenue
Three Months Ended June 30, | ||||||
2018 | 2017 | |||||
Revenues: | ||||||
North American ticket sales | $ | 33.5 | $ | 35.9 | ||
International ticket sales | 13.5 | 12.4 | ||||
Advertising and sponsorship | 0.9 | 0.7 | ||||
Other 8 | 4.4 | 3.8 | ||||
Total Revenues | $ | 52.3 | $ | 52.8 |
Operating income was $13.4 million as compared to $17.1 million in the prior year quarter, primarily due to a rise in production costs, including talent pay, an increase in accrued management incentive compensation and the reduction in ticket sales (as described above).
Adjusted OIBDA was $14.7 million as compared to $17.7 million in the prior year quarter.
Key Highlights: WWE continued to stage and plan remarkable events for engaging its fans with live, action-packed entertainment. During the quarter, WrestleMania attracted 78,133 fans and broke the record for the Mercedes-Benz Superdome’s highest grossing entertainment event at $14.1 million. The Greatest Royal Rumble in Jeddah, Saudi Arabia, became the largest WWE event held outside the U.S. in the past 16 years. In addition, the Company announced that it will return to China for the third straight year when WWE LIVE Shanghai comes to the Mercedes Benz Arena in September, and will hold a historic event in Australia, with WWE Super Show-Down in October, featuring the largest roster of WWE Superstars to ever appear in that country.
Consumer Products
Revenues increased 9% to $26.7 million primarily due to higher royalties from the sale of licensed consumer products and the timing of merchandise sales related to WWE’s WrestleMania Fan Axxess. The increase in licensing revenues reflected higher royalties from the sale of video games, including the company’s franchise game, WWE 2K19, and the mobile game, WWE Champions (Scopely).
Three Months Ended June 30, | ||||||
2018 | 2017 | |||||
Revenues: | ||||||
Consumer product licensing | $ | 10.8 | $ | 9.4 | ||
eCommerce | 8.1 | 8.4 | ||||
Venue merchandise | 7.8 | 6.8 | ||||
Total Revenues | $ | 26.7 | $ | 24.6 |
Operating income was $4.6 million as compared to $5.5 million in the prior year quarter as the change in revenue was offset by an increase in operating expenses, including accrued management incentive compensation.
Adjusted OIBDA increased 10% to $6.9 million from $6.3 million in the prior year quarter based on the change in revenue.
Key Highlights: During the quarter, the Company continued to develop new licensing partnerships, such as those with Carl’s Jr.’s and Guardian Essentials to promote kids meals and multivitamins (shaped like WWE Championship belts), respectively, and to expand the presence of WWE among children. The vitamins were made available on WWE’s ecommerce site, WWE Shop, and Amazon.com. The Company also continued to increase the penetration of its mobile games. As of quarter-end, the Company had more than 90 million installs across its game portfolio, led by WWE Champions and WWE Supercard and including WWE’s newest game, WWE Mayhemwhich recently surpassed 12 million installs.
2018 Business Outlook
In the first half of 2018, the Company achieved a 59% increase in Adjusted OIBDA to $78.7 million. In the second half of 2018, the Company expects Adjusted OIBDA to be relatively flat year-over-year. This includes projected third quarter Adjusted OIBDA of $30 million to $34 million and strong fourth quarter results.4 Based on its actual and projected performance, the Company is raising its target for 2018 Adjusted OIBDA to a range of $160 million to $170 million, which would be an all-time record, exceeding its previous guidance of at least $150 million.4
The Company’s guidance for the second half of 2018 assumes a continued rise in revenue, and the impact of increases in fixed costs, strategic investments, and higher management compensation based on 2018 overperformance. In addition to these items, projected third quarter results also reflect the unfavorable timing of various business initiatives. In the third quarter 2018, the Company also projects average paid subscribers of approximately 1.67 million, which represents a 10% increase from the third quarter 2017.
The Company anticipates meaningful revenue growth in the fourth quarter based on the escalation of content rights fees and the favorable timing of licensing revenue associated with the implementation of a new FASB standard (ASC Topic 606).
WWE is unable to provide a reconciliation of full year or third quarter guidance to GAAP measures as, at this time, WWE cannot accurately determine all of the adjustments that would be required.
In early 2018, management discussed a step-up in capital expenditures to build-out the Company’s video production infrastructure and support the Company’s growth. The Company has decided to delay that spending as its plans continue to evolve. For the full year 2018, the Company anticipates capital expenditures of $30 million to $40 million. The Company expects to finalize its plans this year and to provide further guidance at that time.
About Chairshot Radio Network
Launched in 2017, the Chairshot Radio Network presents you with the best in sports, entertainment, and sports entertainment. Wrestling and wrestling crossover podcasts + the most interesting content + the most engaging hosts = the most entertaining podcasts you’ll find!
MONDAY - Bandwagon Nerds (entertainment & popular culture)
TUESDAY - Musical Chairs (music) / Hockey Talk (NHL)
WEDNESDAY - The Greg DeMarco Show (wrestling)
THURSDAY - Keeping the news ridiculous... The Oddity / Chairshot NFL (NFL)
FRIDAY - DWI Podcast (Drunk Wrestling Intellect)
SATURDAY - The Mindless Wrestling Podcast
SUNDAY - The Front and Center Sports Podcast
CHAIRSHOT RADIO NETWORK PODCAST SPECIALS
Attitude Of Aggression Podcast & The Big Five Project (chronologically exploring WWE's PPV/PLE history)
TheChairshot.com PRESENTS...IMMEDIATE POST WWE PLE REACTIONS w/ DJ(Mindless), Tunney(DWI) & Friends
Patrick O'Dowd's 5X5
Classic POD is WAR
Chairshot Radio Network Your home for the hardest hitting podcasts... Sports, Entertainment and Sports Entertainment!
Powered by RedCircle
Let us know what you think on social media @ChairshotMedia and always remember to use the hashtag #UseYourHead!
News
Chairshot News Report: TNA Impact Results, AEW Speculation For Ricochet & Shane McMahon, Vince McMahon, More!
Your Wrestling News for July 5, 2024, including TNA Impact, Ricochet, Shane McMahon, his daddy Vince, and more!
Your Wrestling News for July 5, 2024, including TNA Impact, Ricochet, Shane McMahon, his daddy Vince, and more!
Welcome to your daily dose of pro wrestling news–and analysis you can trust! We take all wrestling news with a grain of salt here at The Chairshot, and we hope to steer you in the right direction.
Results: TNA Impact (July 4, 2024)
Here are your results from Thursday night’s edition of TNA Impact (originally taped on June 28 at the 2300 Arena in Philly):
- Trey Miguel vs. Leon Slater ends in a no-contest after WWE NXT star Charlie Dempsey attacks everyone.
- Dani Luna battled Jody Threat to a time limit draw in the 10-Minute Challenge. They were granted the customary “5 more minutes” but were attacked by Alisha Edwards & Masha Slamovich. During the match it was revealed that Nic Nemeth had been attacked backstage.
- Frankie Kazarian defeated Mike Santana by countout to advance to the TNA World Championship Match at Slammiversary.
- Matt Hardy & Reby Hardy beat Eddie Edwards & Alisha Edwards.
- Joe Hendry pinned Jake Something to advance to the TNA World Championship Match at Slammiversary.
No surprise that Joe Hendry advanced to the world title match, but Santana-Kazarian could have gone either way. A promo video to end the show implied that Kazarian was the one who took out Nic Nemeth backstage, seemingly creating a story for them within the Slammiversary title match. No shocker that The Hardys won the tag team match, but a great surprise with Charlie Dempsey getting involved in the opener. That TNA/NXT collaboration continues to be a lot of fun.
You can catch Andrew’s Review of the event here.
Ricochet Expected To Sign With AEW
Many outlets are reporting that Ricochet’s expected landing spot remains AEW, with additional reports surfacing that his agent has been working out the details on his behalf.
Personally, I’d rather see him back in WWE. Even after an initial push in AEW, he will be a novelty act much like PAC, so I don’t see the difference. But if he’s going to AEW, here’s hoping that agent does a great job and secures quite the bag for ol’ Ric.
Vince Russo Suggests Shane McMahon As A Front Man For Vince McMahon to Purchase AEW
”We saw this with WCW, it happened before. It (purchasing AEW) could be under the guise of Shane, that’s what I’m saying. Shane is as clean as whistle. Vince could be behind it without anybody knowing it, bro.”
Those are the words of Vince Russo, who on the surface seems to be spouting nonsense. Time will tell if there is something to it all, but I wouldn’t place any wagers on this one. Shane McMahon to AEW would be an entertaining shocker, but that–like many things in AEW–would quickly wear off.
Shawn Michaels Discusses NXT Releases, Referencing Drew Gulak
During the NXT Heatwave media call, Shawn Michaels was asked about the release of Gable Steveson, but also lumped Drew Gulak in his response about main roster viability:
“From my understanding, nothing on anyone’s part other than contracts being up. Certainly, in the place of Drew Gulak. From a company standpoint, there not being anything from a main roster standpoint that they were going to be using him in. In NXT, over the last year and a half to two years, we’ve been trying to get into the process of keeping it fluid. It’s all about getting to the main roster when everything is said and done. In two or three years, if that doesn’t happen, we bring other people in or see if we’re ready to move on.”
If anything, it’s a stark reminder that NXT still exists to, above all else, populate the main roster. It’s quite the delicate balance between booking your own television show and preparing for the future, one that HBK has arguably done better than Triple H himself.
Other Odds & Ends:
- According to reports, the mini-stroke referenced by Britt Baker (DMD) on AEW Dynamite is legitimate. If so, both she and Adam Cole have been through a ton over the past 24 months.
- Mason Madden (Mace) and Mansoor, now known as the MxM Collection, showed up in ROH when featured in a vignette on this week’s broadcast. They might not have made it in WWE, but it’s good to see them getting work, and a second chance to make this gimmick their own. YEAH!
- Cody Rhodes continues to be the ultimate good dude, this time helping a fan who won tickets to Money In The Bank actually attend the event. The fan who won the tickets is in a wheelchair, and there were no more accessible seats left. That was, of course, until Cody got involved. Now the fan can be there and enjoy the show as intended when he won the contest. Cody wins again!
About Chairshot Radio Network
Launched in 2017, the Chairshot Radio Network presents you with the best in sports, entertainment, and sports entertainment. Wrestling and wrestling crossover podcasts + the most interesting content + the most engaging hosts = the most entertaining podcasts you’ll find!
MONDAY - Bandwagon Nerds (entertainment & popular culture)
TUESDAY - Musical Chairs (music) / Hockey Talk (NHL)
WEDNESDAY - The Greg DeMarco Show (wrestling)
THURSDAY - Keeping the news ridiculous... The Oddity / Chairshot NFL (NFL)
FRIDAY - DWI Podcast (Drunk Wrestling Intellect)
SATURDAY - The Mindless Wrestling Podcast
SUNDAY - The Front and Center Sports Podcast
CHAIRSHOT RADIO NETWORK PODCAST SPECIALS
Attitude Of Aggression Podcast & The Big Five Project (chronologically exploring WWE's PPV/PLE history)
TheChairshot.com PRESENTS...IMMEDIATE POST WWE PLE REACTIONS w/ DJ(Mindless), Tunney(DWI) & Friends
Patrick O'Dowd's 5X5
Classic POD is WAR
Chairshot Radio Network Your home for the hardest hitting podcasts... Sports, Entertainment and Sports Entertainment!
Powered by RedCircle
Let us know what you think on social media @ChairshotMedia and always remember to use the hashtag #UseYourHead!
Did your picks win points?
The AEW Continental Classic is underway, with almost everyone competing. Check in here if you haven’t seen the winners and losers of week 1!
Here are your Gold League standings!
- Jon Moxley: 1-0, 3 points
- Swerve Strickland: 1-0, 3 points
- Jay White: 1-0, 3 points
- Rush: 0-1, 0 points
- Mark Briscoe: 0-1, 0 points.
- Jay Lethal: 0-1, 0 points
Here are your Blue League standings!
- Brody King: 1-0, 3 points
- Claudio Castagnoli: 1-0, 3 points
- Daniel Garcia: 0-1, 0 points
- Eddie Kingston: 0-1, 0 points
- Bryan Danielson: Yet to Compete
- Andrade El Idolo: Yet to Compete
My Thoughts:
Nothing too crazy, nothing too wild, this tournament only just got started. The only disappointing point is that they could not get Bryan “cleared to compete” Saturday night. Not sure how much of that is shoot given the bad eye, but this was kinda the problem of wanting him in the tournament over tons of other choices. Bryan wants to face Okada for WrestleKingdom 18, how is Bryan supposed to do that at his best if he’s also gonna be in a round robin, doing five top level matches in about as many weeks? And it takes away from Andrade being able to do something. Also a little surprised we didn’t even hear from Andrade on Saturday.
Now as we heard on Saturday, round two’s matches are set. Gold League will see Mark Briscoe VS Rush, White VS Swerve, and of course, Moxley VS Lethal. Nice variety there, a couple 0-1 guys facing off, as well as two 1-0 guys, and then 1-0 VS 0-1. No offense to Lethal, but he feels like an 0-2 going up against Moxley. Hard to call the other ones but that’s the fun of it. Meanwhile, Blue League sees Brody VS Claudio in a showdown to be 2-0, then Bryan and Andrade finally jump in, Bryan against Eddie and Andrade against Garcia. Sadly, feels like Eddie and Garcia are going 0-2, no way Tony Khan is booking Bryan and Andrade to lose their first shots.
In fact, that could be half the reason they did wait on those two, that’s almost too good for just a first round opener. But I still would’ve done it, same as NJPW does stuff like that for round robins, which this is all modeled after anyway.
About Chairshot Radio Network
Launched in 2017, the Chairshot Radio Network presents you with the best in sports, entertainment, and sports entertainment. Wrestling and wrestling crossover podcasts + the most interesting content + the most engaging hosts = the most entertaining podcasts you’ll find!
MONDAY - Bandwagon Nerds (entertainment & popular culture)
TUESDAY - Musical Chairs (music) / Hockey Talk (NHL)
WEDNESDAY - The Greg DeMarco Show (wrestling)
THURSDAY - Keeping the news ridiculous... The Oddity / Chairshot NFL (NFL)
FRIDAY - DWI Podcast (Drunk Wrestling Intellect)
SATURDAY - The Mindless Wrestling Podcast
SUNDAY - The Front and Center Sports Podcast
CHAIRSHOT RADIO NETWORK PODCAST SPECIALS
Attitude Of Aggression Podcast & The Big Five Project (chronologically exploring WWE's PPV/PLE history)
TheChairshot.com PRESENTS...IMMEDIATE POST WWE PLE REACTIONS w/ DJ(Mindless), Tunney(DWI) & Friends
Patrick O'Dowd's 5X5
Classic POD is WAR
Chairshot Radio Network Your home for the hardest hitting podcasts... Sports, Entertainment and Sports Entertainment!
Powered by RedCircle
Let us know what you think on social media @ChairshotMedia and always remember to use the hashtag #UseYourHead!