On November 4, 2021, WWE announced the company’s financial results for its fourth quarter, as well as the full year of 2021.
It was revealed that the company revenue was $310.3 million for the fourth quarter, said to be a 30% increase on last year’s Q4 results. For comparison, The previous financial results report revealed the company revenue to be $255.8 million for the third quarter.
WWE also reported that Operating income increased to $83.6 million in Q4. WWE attributed the increased figures to ‘the impact of a large-scale international event as well as higher ticket and venue merchandise sales resulting from the return to ticketed live events.’
For the full year, WWE reported an increased revenue of $1.095 billion, the highest in the company’s history. WWE also revealed that the company experienced an operating income increase of 24% to $259.0 million.
Discussing the year’s earnings, WWE Chairman and CEO Vince McMahon said:
“In 2021, we reached a significant milestone of over $1 billion in revenue, for the first time in the Company’s history. We ended the year with strong performance across each of our business lines that reflected the engagement of a wider audience with distribution on new digital platforms, including Peacock, and the return of fans at our live events.
“We expect the execution of key initiatives in the coming year, such as the licensing of network content in international markets, monetization of new original series, and the continued shift to a stadium strategy for WWE’s premium live events, will further expand the reach of our brands and enhance the value of our content.”
WWE’s business outlook for 2022 is as follows:
- The Company outlines its expectations for 2022, which assume ticketed audiences at the Company’s live events for the full year, and target record revenue and an Adjusted OIBDA range of $360 – $375 million, which would be an all-time record. This range of anticipated performance reflects the continued ramp-up of live events, including large-scale international events, and increased monetization of content, partially offset by increased production, content-related, and other expenses.
- Management believes WWE is well positioned to capitalize on significant future opportunities. In 2022, key initiatives that could have meaningful implications for long-term growth include the licensing of WWE Network in international markets, monetization of new original series, the licensing of Raw second window rights, further progress with sponsorship sales, and the continued execution of WWE’s stadium strategy for premium live events.
You can read more at this link.
We will provide updates from WWE’s earnings call later today.
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