WWE Financials: Live & TV Business Up, WWE Studios Down

WWE released their third quarter financial results today, here are some notes from that release…

* Revenues from our Live and Televised Entertainment businesses were $271.8 million for the current year period as compared to $259.0 million in the prior year period, representing an increase of 5%.

* Revenues from our Consumer Products businesses were $67.4 million for the current year period as compared to $76.2 million in the prior year period, representing a decrease of 12%.

* Revenues from our Digital Media related businesses were $22.4 million as compared to $19.2 million in the prior year period, representing an increase of 17%.

* WWE Studios recognized revenue of $1.9 million as compared to $3.7 million in the prior year quarter, reflecting the timing of releases from our pre-2010 movie portfolio. There were three feature films released in the current quarter, Barricade, No Holds Barred, and The Day as compared to one release, Inside Out, in the prior year quarter. No Holds Barred was distributed as a remastered DVD edition of a 1989 theatrical release. The Day was distributed as a limited theatrical release. Revenue generated by this movie will be recognized as participation statements are received. As such, no revenues were recorded for this movie during the quarter. The quarter was characterized by a $4.6 million reduction in film losses as the prior year quarter included a $5.1 million impairment charge related to our self distributed films. Excluding the impact of that charge, WWE Studios’ movie portfolio generated a loss of $1.5 million compared to an adjusted loss of $1.0 million in the prior year quarter.

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