WWE posted a 19% year-over-year quarterly revenue increase despite the absence of ticketed events. An increase in content rights and decrease of event-related production costs drove income to grow nearly 900%.
E-commerce revenue increased 60% to $9.1 million in the quarter. WWE Network subscribers also grew 6% and digital video views and hours consumed were both up 3%.
CEO Vince McMahon credited the successful quarter in part to WWE’s new management team, including President and CRO Nick Khan and CFO Kristina Salen. Khan was the co-head of CAA’s television division prior to joining WWE this summer.
WWE Q3 By The Numbers:
$221.6 million in overall revenue
$201 million in media rights revenue
$19.9 million in consumer products revenue
$700,000 in live events revenue