WWE announced its fourth quarter results ending December 31, 2013, before the market opened today, with revenues totaling $118.4 million as compared to $115.1 million in the prior year quarter. The company had an operating loss of $12.2 million compared to an income of $2.6 million in the prior year quarter. Net loss was $7.9 million compared to an income of $0.6 million.
The decline and loss were majorly due to a heavy investment in staff, talent, and marketing initiatives to launch the WWE Network.
“During the past year, we laid the foundation for future growth and enhanced our brand strength,” stated Vince McMahon, Chairman and Chief Executive Officer. “We have now announced the renewal of our television distribution agreement in the U.K., are continuing the negotiations regarding our domestic content, and are poised to launch our global WWE Network in the next few days. With preparations for WrestleMania 30 fully underway, we look forward to celebrating our enduring legacy and ushering in a new era as we blaze new trails in the media industry.”
You can read the full press release at here.