WWE Reports Record Revenue And Q2 2016 Results, Vince McMahon Comments

WWE issued the following today:

WWE® Reports Record Revenue and Q2 2016 Results

Second Quarter 2016 Highlights

* Revenue increased 32% (13% excluding the timing impact of WrestleMania1) to a record $199.0 million as WWE’s Live Event and Network segments achieved their highest quarterly revenue in Company history* OIBDA2 of $7.5 million was in line with the Company’s guidance* WWE Network reached a record of 1.52 million average paid subscribers over the second quarter 2016, which represented a 25% increase from the second quarter 2015* SmackDown transitioned to a live format on USA Network. Since July 25, WWE’s flagship programs, Monday Night Raw and SmackDown, have and will continue to feature unique talent and storylines* Through the first six months of the year, digital engagement metrics continued to grow with video views up over 100% to nearly 8 billion and social media engagements up 39% to 570 million versus the prior year* The Company announced a multi-year content distribution deal in China with PPTV, the return of a WWE live event to Shanghai in September and the signing of the first-ever Chinese talent

Select WrestleMania Highlights

WrestleMania (April 3, 2016) achieved record breaking attendance, ticket sales, viewership, and social media activity. WrestleMania broke WWE’s attendance record, attracting 101,763 fans at AT&T Stadium. WWE Network reached a record 1.82 million total subscribers following WrestleMania (April 4). During WrestleMania Week, WWE Network featured 19 hours of prime-time, premier programming and subscribers watched nearly 22 million hours of content, averaging 12 hours per subscriber. WrestleMania generated more than 2.5 million mentions on Twitter in one day and over 250 million video views across WWE digital and social platforms during WrestleMania Week.

STAMFORD, Conn.–(BUSINESS WIRE)– WWE (NYSE:WWE) today announced financial results for its second quarter 2016. For the quarter, the Company reported Net income of $0.8 million, or $0.01 per share, as compared to Net income of $5.1 million, or $0.07 per share, in the prior year quarter.

“I continue to be pleased with the execution of our strategy to optimize the long-term value of our content,” stated Vince McMahon, WWE Chairman and Chief Executive Officer. “Progress on this objective is evidenced by the continued year-over-year growth of WWE Network, the …

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