WWE reported their fourth quarter 2020 earnings report today, and they made profits across the board. They also did not make as much as the previous year’s period. The company already has big hopes for 2021.
The company’s new deal with Peacock was front and center on the earnings report. It was touted that: “This strategic agreement enables WWE to reach a larger audience and realize a greater economic return as compared to a stand-alone subscription service.”
They also brought up how live fans will return to WrestleMania 37, but no ticket availability or safety protocols have been released yet. As Ringside News previously reported, scalpers are already selling tickets for the event.
The company also boasted their ability to carry on with uninterrupted weekly television throughout 2020. This showed “demonstrating the Company’s ability to adapt to COVID-19 and unprecedented industry challenges.”
It was said that management expects restrictions to continue related to cancellation and postponing live events due to COVID-19 protocol. They also expect that bringing back furloughed employees will create a larger expense base for the company’s salaries.
All in all, WWE foresees substantial growth in the year to come.
The Company estimates it can achieve 2021 Adjusted OIBDA of $270 – $305 million as revenue growth, driven by the impact of the Peacock transaction, the gradual ramp-up of ticketed live events, including large-scale international events, and the escalation of core content rights fees, is offset by the increase in personnel and production expenses.
2020 was a year that included a lot of figuring things out. We’ll have to see what 2021 has in store for WWE, but they are very confident about their chances to make it another banner year worth bragging about.