WWE Financial News: Digital Media Revenue Up, WWE Studios

According to WWE’s 2012 Second Quarter Results, Digital Media related businesses was up in 2012. Digital Media did $7.8 million as compared to $6.2 million in the prior year quarter, representing a 26% increase. Unfortunately, WWE Studios saw another loss. Here are the details from the report…

* WWE.com revenues were $4.8 million as compared to $3.4 million in the prior year quarter, primarily due to increased rights fees associated with the licensing of original short-form content to YouTube. The related programming agreement with YouTube commenced in February, 2012. Sales of on-line advertising were essentially flat to the prior year quarter.

* WWEShop revenues were $3.0 million as compared to $2.8 million in the prior year quarter. The number of orders increased by 7% to approximately 63,000, and the average revenue per order increased 4% to $48.70. Effective merchandising and the absence of deep discounts contributed to the change in both orders and revenue per order.

* WWE Studios recognized revenue of $0.6 million as compared to $4.3 million in the prior year quarter, reflecting the relative performance and timing of releases from our movie portfolio. There were no new releases in the current year quarter. In the prior year quarter, we released the film, That’s What I Am. In that quarter, lower home video sales than anticipated resulted in a revised ultimate projection for this film and a $3.3 million impairment charge. Excluding the impact of that charge, WWE Studios’ film losses decreased to $0.5 million from $0.8 million.

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