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WWE

WWE Posts $1bn In Revenue For The First Time In 2021

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STAMFORD, CT (CelebrityAccess) — Wrestling promotion, World Wrestling Entertainment, Inc., announced it generated more than a billion dollars in revenue in 2021.

“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,” said Vince McMahon, WWE Chairman & CEO. “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.”

According to WWE’s financial report for 2021, the company announced revenue of $310.3 million for the fourth fiscal quarter of 2021, up 30% year-over-year, and $1.095 billion for the full year, up 12% from their results in 2020.

WWE attributed the revenue 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, which began in July 2021.

Operating income was up sharply for WWE in Q4, with the company posting earnings of $83.6 million, up 131% from the same period last year. For the full year, WWE announced operating income of $259.0 million, an improvement of 24% over last year’s results.’

According to WWE, gains in operating income were driven by the return of live events but was partially offset by an increase in compensation for the company’s management team due to performance goals.

Operating Income Before Depreciation and Amortization, or OIBDA for WWE was $97.2 million for the quarter, a 90% improvement on 2020’s results, and $327.1 million for the full year, which was up by 14% from 2020.

“For the year, we achieved record revenue and Adjusted OIBDA, which exceeded the high end of our guidance. Adjusted OIBDA increased 14% reflecting higher revenue and profit from the distribution of network programming on Peacock, the contractual escalation of rights fees for our flagship shows, Raw and SmackDown, and the return of ticketed audiences to our live events. In 2022, we anticipate Adjusted OIBDA of $360 million to $375 million, reflecting the full year performance of our ticketed live events as well as the increased production and monetization of content.”

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