In today’s first quarter 2014 financials report, the WWE announced that there was good news for the WWE Studios division. Usually a loser on the reports, revenue increased to $4.3 million from $1.9 million in the prior year quarter. This was due to the strong performance of The Call, which was released theatrically in March 2013.
WWE Studios’ movie portfolio generated income of $1.6 million in the quarter. They lost $5.0 million in the prior year quarter, which included $4.7 million in film impairment charges. Recent movies, such as the direct to DVD Scooby Doo! WrestleMania Mystery and Oculus, which was released in theaters in April, 2014, have shown strong performances that are in-line with the company’s expectations.
At this time, the Company’s movie releases since late 2012 are expected to generate an IRR of over 15%, which exceeds the Company’s estimated cost of capital.
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