WWE Financials: Revenue Updates For TV, Home Entertainment and More
– WWE released their Fourth Quarter and Full Year financials today. Here are the updates on TV, Venue, Home entertainment revenue and more…
Television revenues increased 20% to $40.6 million from $33.9 million in the prior-year quarter primarily due to the production and licensing of new programs. An additional hour of our Raw program was licensed to the USA Network and debuted in July 2012, and a new Saturday morning kids show, WWE Saturday Morning Slam, was introduced on The CW Network in August 2012. In addition, during the quarter, WWE began distribution of a new original series, the WWE Main Event, which airs on ION Television. Venue Merchandise revenues were $3.8 million as compared to $3.9 million in the prior-year quarter. The 3% decline was primarily due to a decrease in total international attendance that arose from 8 fewer international live events in the current-year quarter. Total paid attendance and sales per capita at our North American events increased 4% and 5%, respectively.
Revenues from our Consumer Products businesses increased 9% to $20.4 million from $18.7 million in the prior-year quarter, primarily due to strong unit sales from our home entertainment catalog that were partially offset by lower sales of our licensed products. Home Entertainment net revenues increased 48% to $9.6 million as compared to $6.5 million in the prior-year quarter driven by the promotion and strong sales of our catalog titles and two additional, lower-priced new releases. Revenue growth stemmed from a 43% increase in shipments to nearly 1.2 million units and improved sell through rates of our prior-period releases that more than offset a 16% reduction in average price to $11.31. Licensing revenues declined 12% to $8.4 million as compared to $9.5 million in the prior-year quarter with reduced sales across most product categories, especially video games, as well as novelty products, and apparel. Royalties earned from the sale of video games declined by $0.5 million primarily from the absence of WWE All Stars, which was released in March 2011 and was not refreshed in 2012. In addition, shipments of our annual franchise video game declined 21% to 128,000 units. Royalties from the sale of toys increased 11%, or $0.6 million, reflecting the successful launch of our Brawlin’ Buddies toy by Mattel.
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