WWE, the North American wrestling competition, achieved record live event revenue during the second quarter of 2017.
Live event revenues increased to a quarterly record of $52.8m as compared to $51.9m in the prior year quarter. Increased revenue from the staging of 11 additional events worldwide was partially offset by a reduction in WrestleMania ticket revenue, which primarily reflected lower stadium attendance capacity.
There were 92 total events in the current quarter, consisting of 66 events in North America and 26 events in international markets, as compared to 81 events in the prior year quarter, including 62 events in North America and 19 in international markets.
North American live event revenues were $40.0m in the current year quarter as compared to $40.9m in the prior year quarter. Increased revenue from the staging of four additional events in North America was more than offset by lower WrestleMania ticket sales, which derived from a dip in attendance. WWE said that excluding the impact of WrestleMania in both the current and prior year quarter, average attendance and average ticket price were essentially flat to the prior year quarter.
International live event revenue increased 16 per cent year-on-year to $12.8m. The staging of seven additional events during the quarter and a 12 per cent increase in average ticket price to $72.75 was partially offset by a 21 per cent reduction in average attendance to 6,300 fans.
Overall, revenue increased eight per cent to a record $214.6m, while operating income was $10.7m and adjusted operating income before depreciation and amortisation was $18.1m.
George Barrios, WWE chief strategy and financial officer, said: “We achieved record revenues in our network and live event segments, continued to grow WWE Network’s subscriber base, and generated results that were essentially in line with our guidance.
“As we continue to drive WWE’s digital and direct-to-consumer transformation, we remain on track to achieve our 2017 financial objectives with record revenue, record Adjusted OIBDA results, and record subscriber levels.”