WWE reports Q4 2018 financial results

 
 

WWE today announced financial results for its fourth quarter ended December 31, 2018.

“In 2018, WWE generated the highest level of revenue and earnings in the Company’s history by leveraging our brand strength to increase the monetization of our content worldwide,” stated Vince McMahon, Chairman and Chief Executive Officer. “Our long-term growth strategy will continue to focus on content creation, digitization and international development.”

George Barrios, WWE Co-President, added “We increased revenue by nearly $130 million, and achieved a record level of Adjusted OIBDA and network subscribers. We expect to balance 2019 revenue growth with investment in strategic areas that extend the moat around our business, enabling us to continue our business transformation and maximize shareholder value.”

You can read the full press release with detailed numbers here.

Fourth Quarter 2018 Highlights

  • Revenues increased 29% to $272.5 million as compared to the prior year quarter
  • Operating income nearly doubled to $53.4 million from $27.0 million in the prior year quarter
  • Adjusted OIBDA increased 57% to $64.4 million, exceeding Company guidance and representing an all-time record quarter
  • WWE Network average paid subscribers increased 7% to approximately 1.59 million paid subscribers, consistent with Company guidance

Full Year 2018 Highlights

  • Revenue increased 16% to $930.2 million, the highest in the Company’s history
  • Operating income increased 51% to a record of $114.5 million
  • Adjusted OIBDA increased 31% to $178.9 million, exceeding Company guidance and representing all-time record performance for the second consecutive year
  • International revenue increased 58% to $317.8 million from $201.3 million in the prior year, the highest in the Company’s history and the first-time international revenue has exceeded $300 million
  • WWE completed agreements with USA Network (NBCU) and Fox Sports, effective October 1, 2019, which increase the average annual value (AAV) of its U.S. distribution to 3.6 times that of the prior deal
  • Produced new, large-scale international events (Greatest Royal Rumble, Crown Jewel and Super Show-Down) and compelling content across platforms, including the first all-women’s pay-per-view, WWE Evolution (WWE Network) and the launch of Miz & Mrs. (USA Network)
  • Digital engagement continued to grow with video views up 57% to 31.4 billion and hours consumed up 77% to 1.2 billion across digital and social media platforms