WWE Financials: Live and TV Entertainments Up From Last Year
– WWE released their Fourth Quarter and Full Year financials today. Here are the details on the live and TV entertainment business…
Live and Televised Entertainment
Revenues from our Live and Televised Entertainment businesses were $82.0 million for the current quarter as compared to $81.0 million in the prior-year quarter. Increased rights fees from the production and licensing of new television programs were affected by timing, with 8 fewer international live events and a reduction in the number of pay-per-view events (3 vs. 4 in the prior-year quarter).
Live Event revenues declined 13% to $23.3 million from $26.9 million in the prior-year quarter primarily due to a reduction in the number of international events and lower average attendance at both our domestic and international events.
There were 75 total events, including 52 events in North America and 23 events in international markets, in the current quarter as compared to 78 events in the prior-year quarter, including 47 events in North America and 31 in international markets.
North American live event revenues increased 9% to $13.9 million from $12.7 million in the prior-year quarter, reflecting increases in the number of events and average realized ticket price, which more than offset a slight decline in average attendance. There were 5 additional events in the period, representing an 11% increase while the average ticket price for the quarter’s events increased 4% to $44.64 from $42.87 in the prior-year quarter. Average attendance declined 5% to approximately 5,700 from 6,000, primarily due to weaker performance.
International live events generated revenues of $9.4 million as compared to $14.2 million in the prior-year quarter, reflecting a 26% decline in the number of events, with 8 fewer events in the period, and an 11% decrease in average attendance to approximately 5,600 from 6,300 in the prior-year quarter. The decline in average attendance was predominantly due to weaker performance, as the prior-year quarter included an especially strong eight-event tour in Mexico. Partially offsetting the decline in events and attendance, the average ticket price increased 5% to $69.81 due in part to changes in the mix of ticket sales.
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