WWE Q4 Results: WWE Network Helps Media Division See Growth

WWE posted their fourth quarter financial results today, and revealed that revenues from the Company’s Media division increased 19%, to $106.6 million, driven by the growth of WWE Network and the contractual escalation of television rights fees. Network revenues, which include revenue generated by WWE Network and PPV, increased 50% to $40.8 million. WWE Network revenue increased to $37.2 million from $23.3 million in the prior year quarter based on a 72% year-over-year increase in average paid subscribers to 1,237,000. WWE Network had approximately 1,272,000 total subscribers at December 31, 2015 as compared to 1,306,000 total subscribers at September 30, 2015 and 816,000 total subscribers at December 31, 2014.

* PPV contributed $3.6 million in revenue with approximately 274,000 buys as three events were produced during the quarter.

* TV increased 10% to $55.6 million from $50.5 million in the prior year quarter primarily due to contractual increases of key distribution agreements, the largest of which became effective in the fourth quarter 2014 and the first quarter 2015. The increase in revenue was partially offset by the timing of Total Divas, which aired 6 fewer episodes during the fourth quarter 2015 than in the prior year quarter.

* The Home Entertainment division saw their revenues decreased to $2.6 million from $7.8 million in the prior year quarter primarily due to a decline in effective prices and the recognition of a $2.1 million minimum guarantee in the prior year quarter. The average effective DVD/Blu-Ray price decreased approximately 34% to $8.34 per unit.

* Finally, Digital Media revenues increased to $7.6 million from $4.0 million in the prior year quarter primarily due to higher advertising revenues.

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