WWE Q2 News: WWE Network at 1.6 Million Subscribers

– WWE released their 2017 Q2 financials report this morning; here is a break down of how the WWE Network is performing…

* WWE Network revenues, which include revenue generated by WWE Network and pay-per-view, increased 6% to $54.9 million. WWE Network subscription revenue increased 7% to $49.1 million from $45.9 million in the prior year quarter based on an 8% year-over-year increase in average paid subscribers to over 1.63 million (slightly down, but almost identical to where they were on March 31).

* Network segment OIBDA increased $8.7 million due to the growth in WWE Network subscription revenue, and as anticipated, lower programming expenses from the broadcast timing of original content, namely Camp WWE and Swerved, which aired in the prior year quarter. The Company continued to increase the global subscriber base of WWE Network, which had 1.57 million total paid subscribers (1.16 million U.S. paid subscribers and 0.41 million international paid subscribers) at the end of the second quarter, which represented a 4% increase from June 30, 2016.

* WWE Network content, including the Company’s premier event, WrestleMania (April 2, 2017), other pay-perviews, original series, NXT Takeover, and specials have continued to drive viewer engagement. During the quarter, the Company introduced compelling new content for WWE Network, including live in-ring programs, such as the UK Championship Special, as well as new episodes of WWE 24 and the weekly series 205 Live. The Company added more than 75 hours of original content to WWE Network’s featured programming and more than 800 hours of archival content, which resulted in an on-demand library of over 8,300 hours at quarter-end.

* NOTE: While the network added 598,000 subscribers, there were also 604,000 cancellations.