WWE Sees Big Profits In Quarterly Earnings Report, Yet Down From Previous Year

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WWE has released their earnings report for the fourth quarter of 2020. This was another fruitful time for the company in terms of profitability. They still saw lower numbers from the previous year’s period.

It is reported that revenue was $238.2 million which was a decrease of 26% from the same quarter last year. This was due to a lack of Saudi Arabian events and live fans buying tickets for events.

The company’s operating income was $36.2 million, a decrease of 64%. They also boasted that the average paid WWE Network subscribers were at 1.5 million, an increase of 6%.

Vince McMahon provided the following quote to boast the company’s continued success as they wrapped up 2020.

“During the fourth quarter, we continued to produce live content in new ways, which successfully increased audience interaction and engagement. As we continued to adapt our business to the changing media environment, we completed an important agreement to license WWE Network content to Peacock, which we expect will expand the reach of our brands and enhance the value of our content.”

There are a lot of numbers to break down as WWE continues on. 2021 could see more events return with live fans. It is unclear whether a trip to Saudi Arabia is in the cards as that was a factor in the lower profit from the previous year’s quarter as well.

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