WWE Q1 Financials: Live Events Revenue Down

In today’s Q1 financial report, WWE announced that Live Event revenues decreased 36% to $25.3 million. This is due to WrestleMania being held is Q1 last year. Excluding this timing impact, Live Event revenues increased 7% from $23.6 million in the prior year quarter. Here is a breakdown of the live events for the quarter…

* There were 78 total events (excluding NXT) in the current quarter, including 72 events in North America and 6 events in international markets, as compared to 76 events in the prior year quarter, including 73 events in North America and 3 in international markets.

* North American live event revenues decreased to $22.8 million from $38.3 million in the prior year quarter, driven by the timing of WrestleMania, which generated revenue of approximately $15.7 million in the prior year quarter. Excluding the impact of WrestleMania, revenue from the Company’s North American live events was essentially flat as a 6% increase in average ticket prices to $47.79 was offset by a 9% decline in average attendance to 6,100 fans, where the latter was attributable, in part, to changes in venue mix.

* International live event revenue increased $1.5 million to $2.5 million as compared to the prior year quarter reflecting the staging of 3 additional events and the performance of events in Germany and India. The Company’s international events generated nearly a fourfold increase in average international attendance to 7,700 fans, which was partially offset by a 74% decline in the average effective ticket price to $45.09. The decline in the average ticket price reflected changes in territory mix. The prior year quarter had three events in Abu Dhabi, an international market that has historically garnered higher ticket prices.

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