WWE Q1 Financials: WWE Network at 1.58 Million Subscribers

– WWE released their first quarter financial report this morning, and released the following information regarding the WWE Network’s performance…

Media increased to $135.4 million from $133.4 million in the prior year quarter, primarily due to the contractual escalation of core content rights fees. The growth was partially offset by lower advertising sales, particularly on YouTube, and the unfavorable timing of advertising and sponsorship sales across other platforms.

The WWE Network’s average paid subscribers increased 2% to approximately 1.58 million. For the second quarter 2019, the Company projects average paid subscribers of approximately 1.70 million, representing a year-over-year decline of 5%. The Company’s primary focus for WWE Network is the launch of its new platform in partnership with Endeavor Streaming and Massive. This new platform will provide flexibility to bring new features and experiences to the Company’s fans and enable the delivery of content in multiple languages.