incurred expenses for wwe at wrestlemania 32

INCURRED EXPENSES FOR WWE AT WRESTLEMANIA 32 FULL
INCURRED EXPENSES FOR WWE AT WRESTLEMANIA 32 SERIES

Operating Income increased 42%, or $27.3 million, to $92.4 million, driven by the increase in revenue partially offset by an increase in operating expenses.

These increases were partially offset by a decline in network revenues primarily due to the impact of upfront revenue recognition in the prior year quarter related to the delivery of certain WWE Network intellectual property rights. Revenue increased 27% to $333.4 million, primarily due to the timing of a large-scale international event as well as higher ticket sales due to the return of ticketed audiences at our live events. These items more than offset the absence of one-time upfront revenue recognition related to the delivery of certain WWE Network intellectual property rights in the prior year period.”

INCURRED EXPENSES FOR WWE AT WRESTLEMANIA 32 FULL

Our strong financial performance was primarily driven by our return to a full live event schedule, including the staging of a successful large-scale international event. Adjusted OIBDA increased 33% reflecting 27% revenue growth. We continue to monetize our intellectual property across various platforms through our media rights agreements, both domestically and abroad, as well as through the monetization of new original series, including our expanded partnership with A&E.”įrank Riddick, WWE Chief Financial and Administrative Officer, added “In the quarter, we exceeded the high end of our guidance. WrestleMania, as well as our other successful premium live events such as Day 1, Royal Rumble and Elimination Chamber, further expanded the reach of our brands and enhanced the value of our content as evidenced by increased ticket revenue and viewership. “We continued to effectively execute our strategy, including staging the most stupendous WrestleMania ever in early April. “We are off to a strong start in 2022, highlighted by record quarterly revenue and Adjusted OIBDA,” said Vince McMahon, WWE Chairman & CEO. STAMFORD, Conn., May 5, 2022 – WWE (NYSE: WWE) today announced financial results for its first quarter ended March 31, 2022. This range of anticipated performance reflects the continued ramp-up of live events, including large-scale international events, and increased monetization of content, partially offset by increased production, content-related, and other expenses.

The Company reaffirms its expectations for 2022, which assume ticketed audiences at the Company’s live events for the full year, and target record revenue and an Adjusted OIBDA range of $360 – $375 million, which would be an all-time record.

WrestleMania viewership in India was a record 56.1 million, a 29% increase year-over-year.

WrestleMania generated 2.2 billion social media impressions, more than the 1.8 billion impressions generated by Super Bowl LVI.

WrestleMania was the second most viewed event on Peacock to date, behind only Super Bowl LVI.

Global unique viewership increased 54% and domestic unique viewership increased 61% year-over-year

WrestleMania was the most viewed WWE premium live event of all time.

WrestleMania was WWE’s highest-grossing and most-attended event in company history

WrestleMania was held at AT&T Stadium in Dallas over two consecutive nights in front of a combined 156,352 fans.

WrestleMania Highlights (April 2-3, 2022)

WWE 2K22, the latest installment of the Company’s flagship video game franchise, was released to strong consumer demand and rave reviews.Announced a comprehensive, long-term partnership with Fanatics to create a new, enhanced digital platform for e-commerce and licensed merchandise, as well as physical, digital, and non-fungible token (NFT) trading cards.Announced a broadcast partnership with MBC Group, the largest and leading group in the Middle East and North Africa (MENA) region, to air WWE premium live events, live episodes of Raw and SmackDown as well as WWE Network’s vast library of content.

INCURRED EXPENSES FOR WWE AT WRESTLEMANIA 32 SERIES

Announced a multi-year expansion of the Company’s original programming partnership with A&E that includes more than 130 new hours of premium WWE-themed series and specials.Returned capital to shareholders totaling $38.9 million, including share repurchases and dividends paid.Revenue was $333.4 million, an increase of 27% and a quarterly record Operating Income was $92.4 million, an increase of 42% and Adjusted OIBDA 1 was $111.7 million, an increase of 33% and a quarterly record.

Incurred expenses for wwe at wrestlemania 32