Notes from WWE’s Fiscal 4th Quarter & Fiscal Year Report

WWE held an investor’s meeting on Thursday discussing the results from their fiscal 2020 fourth quarter and year reports.

In regards to revenues, WWE generated $238.2 million in net revenues for the fiscal quarter and $974.2 million in net revenues for the fiscal year. This was down 26% from last year’s fiscal fourth quarter of $322.8 million and up 1% from last year’s fiscal year revenues of $960.4 million.

WWE generated a net income of $13.6 million for the fiscal quarter, which was down compared to last year’s fiscal fourth quarter net income of $69.3 million.

WWE generated an operating income of $36.2 million for the fiscal quarter and $208.6 million for the fiscal year. This was down 64% compared to last year’s fiscal quarter and up 79% compared to last year’s fiscal year.

In regards to other financial areas, WWE saw a 97% decline in event revenues for the fiscal quarter, consumer revenue was down 12% for the fiscal quarter, and adjusted OIBDA was up 59% and hit a new all-time company record of $286.2 million for the fiscal year.

WWE Network’s paid subscriber base was at 1.5 million for the fiscal quarter, up 6% compared to last year’s fiscal quarter. In terms of splits, the service had 1,080,900 paid subscribers in the U.S. and 388,800 globally outside the U.S.

In regards to digital content, WWE’s overall digital video views saw an increase of 10% to 38 billion and overall hours consumed also a saw an increase of 10% to 1.4 billion hours for the fiscal year.

During the meeting, Vince McMahon stated that the company currently is unsure when they will be able to resume running events with fans in attendance with the exception of WrestleMania 37. President & Chief Revenue Officer Nick Kahn stated that the earliest the company might be able to start selling tickets again for their live events likely will be in July.

In regards to their recent Superstar Spectacle special on the WWE Network, Khan stated that it has generated around 20 million viewers combined on Sony’s platforms in India.

In regards to Bad Bunny’s partnership with the company, Khan stated that the deal between the two sides was specifically done to cater to their Latin American market. Khan also stated that the company currently has plans for Damian Priest to be pushed as a big star for this market.

Following WWE’s investor meeting and fiscal report release, WWE’s stocks declined from $56 per share to $53 per share during after-hours trading due to the company posting lower than expected fiscal fourth quarter results. Analysts had predicted that WWE would generate around $245.04 million in revenue and $25 million in profits for the fiscal quarter, which neither were reached by the company.

Sources: PWInsider 1& 2, F4WOnline.com, PostWrestling.com