Today, WWE released their full first quarter earnings report for 2019 and they make for some interesting reading. Revenues were $182.4 million, down from $187.7 million in 2018 Q1. The company’s net income was reported as a loss of $8.4 million, compared to a net income of $14.8 million last year. The company says this decrease was driven primarily by a reduction in live event ticket sales and merchandise sales.
WWE Chairman and CEO Vince McMahon said
“…While engagement metrics over the past two quarters were impacted by Superstar absences, we believe they will improve as our talent return and we launch our new season following a successful WrestleMania. We remain excited about the future, particularly with our debut on Fox in October.”
Key points of the report include the following:
- TV ratings for Raw were down approximately 14% whilst Smackdown was down 13% from 2018 Q1
- The average decline of the top 25 cable networks was 5%
- Live event attendance was down 11% from last year in North America, with no international figures.
- The average attendance was 4,800 and ticket price was $52.38
- The WWE Network paid subscribers increased an average of 2% from last year and the day after Wrestlemania total subscribers hit 2.0 million
- The WWE is still promoting the second incarnation of the WWE Network, stating:
“The Company’s primary focus for WWE Network is the launch of its new platform in partnership with Endeavor Streaming and Massive. This new platform will provide flexibility to bring new features and experiences to the Company’s fans”