While WWE’s televised product might be hit or miss, the company continues to do well from a purely financial perspective. WWE released their financial report for the first quarter of 2016 this week, and the news is pretty much good all around. Here are some of the highlights:
– WWE’s net income is up nearly $4 million from the same quarter last year. Total revenue was also up over $20 million from last year, which does not include the financial impact of WrestleMania (which occurred in the second financial quarter in 2015).
– WWE Network averaged over 1.29 million subscribers for the quarter, and reported revenue of over $40 million. As of the report, WWE Network has 1.38 million subscribers, with only 109,000 of that number representing free subscriptions.
– The only real bump in the road was live event attendance, which was down slightly compared to last year, but which was also affected by WrestleMania 32. Discounting that impact, live event revenue remained stable.
– Vince McMahon made the following statement about WWE’s growth over the first quarter of 2016
“Our strong performance in the first quarter reflected the successful execution of our content strategy. The sustained year-over-year growth of WWE Network, the global consumption of our video content across all platforms, and the recent record breaking attraction of WrestleMania demonstrate the increasing strength of our brands. We believe we can continue to leverage these strengths to drive long-term growth.”