WWE earnings were on a hit during the third quarter of 2020. The company did have some strong numbers to report on its corporate website, recently. In total, WWE revenue witnessed a rise of 19% from the previous year to reach the $221.6 million mark.
WWE earnings from the Q3 also have an operating income of $63.4 million that appeared to be an increase of $57.0 million from last year. They mentioned the ThunderDome that “provides an interactive virtual experience for WWE fans and recreates the in-arena atmosphere” which in turn retained a steady viewership for Raw and SmackDown programming.
WWE Earnings Revealed For 2020 Third Quarter
Digital video views took WWE earnings to $9.2 billion that is a 3% increase from last year as well. eCommerce business increased by 60%, reaching $9.1 million. It helped to recover the loss of live events as fans have been able to order from online stores instead of buying merchandise, live.
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Vince McMahon released a statement as the Chairman of the company to show satisfaction with the WWE earnings report. He seemed very happy with the performance of the company in this challenging environment.
“Our third-quarter financial performance was strong and reflected our ongoing creativity in a challenging environment. We continue to adapt our business, as demonstrated by the creation of WWE ThunderDome, focusing on increasing audience interaction and engagement to support the value of our content globally.”
McMahon and Co already invested $22 – $27 million in the fourth quarter which is related to the creation of the ThunderDome at the Amway Center in Orlando, Florida to retain the WWE earnings that have been great. It should be noted that the company continues to make good turnovers throughout the challenging situations of 2020. Their television viewership might be sliding down, but they were able to figure out alternative ways to increase their revenue.
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At a glance, WWE earnings and related highlights from Quarter three have been published as given below,
• Revenue was $221.6 million, an increase of 19% or $35.3 million
• Operating income was $63.4 million, an increase of nearly 9x or $57.0 million
• Adjusted OIBDA1 was $84.3 million, an increase of more than 2x or $58.9 million
• WWE ThunderDome debuted at the Amway Center in Orlando, Florida. It provides an interactive virtual experience for WWE fans and recreates the in-arena atmosphere (WWE has not performed an event with ticketed fans since mid-March 2020)
• WWE Network average paid subscribers2 was 1.6 million, an increase of 6%
• Digital video views were 9.2 billion, an increase of 3%, and hours consumed were 342 million, an increase of 3%, across digital and social media platforms
• eCommerce revenue was $9.1 million, an increase of 60%, offsetting the loss of venue merchandise sales due to 74 fewer events in the quarter.
