BY BLAKE OESTRIECHER, JULY 30, 2019
For the second straight quarter, WWE reported disappointing earnings results, but the company still seems optimistic about its supposed establishment of “new superstars.”
According to WWE Corporate, “Revenues declined 5% to $268.9 million from $281.6 million in the prior year quarter with lower revenue from the Company’s Media, Live Events and Consumer Products business segments” in Q2 2019. In addition, “Operating income decreased to $17.1 million from $21.2 million,” a result of year-to-year decreases in key areas like merchandise sales, live event attendance and media, the latter of which was blamed on “the performance of WWE Network,” which continues to disappoint with no sustained growth and a relatively flat trajectory.
Yet, despite those significant drops and the continued downward trend, WWE’s press release, interestingly enough, appeared to be confident about its future, writing:
“The Company believes the favorable trends in engagement metrics stem from the emergence of new storylines and Superstars following a successful WrestleMania.”
WWE is clearly taking a glass half full approach here … Read More HERE