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WWE Earnings Conference Call: Update on Media Rights, Triple H Creative Update, Writers’ Strike, More

May 3, 2023 | Posted by Ashish
Triple H WrestleMania 39 WWE Image Credit: WWE

WWE had its 2023 Q1 earnings call today. Vince McMahon was not on the call, but Triple H, Nick Khan, and Frank Riddick III were. This was WWE’s first earnings call since the news of their sale to Endeavor.

Highlights from the call are below.

– Nick Khan said they expect regulatory approval for the sale to Endeavor and merger with UFC at some point in the second quarter of 2023.

– Khan said WrestleMania 39 was the most profitable event in WWE history.

– He said viewership for WrestleMania 39 was up 31%, with international viewers reaching 35 million.

– Sponsorship revenue was up over 100%.

– He said the 2023 Royal Rumble was the most viewed Rumble in history.

– He said Fanatics will be taking over in-venue sales of WWE merchandise.

– Merchandise sales at WrestleMania 39 hit $7 million, a new company record, breaking the previous record of $5.2 million set at last year’s WrestleMania.

– Ticket sales revenue jumped to $32.6 million, a 41% increase. Average attendance to WWE events surged to 7,850 from 5,710 at this time last year.

– WWE is expecting a cost increase in Q2 because their Saudi Arabia event, Night of Champions, is happening in Q2 this year, not Q1 like last year.

– Nick Khan noted that WWE has had productive talks with FOX and NBC Universal on media rights. He mentioned that the exclusive media rights negotiation window that their current partners have in the United States lasts about a month. Khan said he believes that many others have interest in WWE, but that they will respect the exclusive negotiation window.

– Khan said WWE is working on a renewal of their deal with Sony in India following Sony’s recent merger with Zee.

– They said they don’t expect to be impacted by the ongoing WGA writers’ strike which started yesterday.

– Khan said WWE is holding off on working with UFC sponsors until the Endeavor deal and merger with UFC are finished.

– Triple H said that there is no interest from anyone at Endeavor or UFC in getting involved in WWE creative.

– Triple H noted that Endeavor will help WWE grow internationally.

– Triple H credited having the right team across the board for WWE’s increase in viewership. He specifically mentioned Kevin Dunn’s production team, as well as the pipeline of talent from NIL to the Performance Center, and added that they are focusing on developing characters and storylines, citing the Bloodline and Sami Zayn story. He added that they are extending the event horizon and want to know where they will be a year ahead and then work backwards.

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Triple H, Ashish