WWE Posted Record-High Revenue in 2018 Financial Report

WWE released its financial earnings report for both the 2018 fourth quarter and full year on [...]

By Connor Casey

WWE released its financial earnings report for both the 2018 fourth quarter and full year on Thursday ahead of its shareholders conference call, giving fans a glimpse of how well the company is doing financially.

Despite the televised product reaching record-low ratings in recent months, WWE's business has never been better. The company announced it made $930.2 million in reported revenue in 2019, the highest annual revenue reported in the company's history.

Other highlights of the report, which you can see here, included the international revenue increasing 58 percent from the previous year to $317.8 million and the average annual value of its television distribution increasing 3.6 times to new deals with USA and FOX.

"In 2018, WWE generated the highest level of revenue and earnings in the Company's history by leveraging our brand strength to increase the monetization of our content worldwide," Vince McMahon stated in the release. "Our long-term growth strategy will continue to focus on content creation, digitization and international development."

"We increased revenue by nearly $130 million, and achieved a record level of Adjusted OIBDA and network subscribers," WWE co-president George Barrios added. "We expect to balance 2019 revenue growth with investment in strategic areas that extend the moat around our business, enabling us to continue our business transformation and maximize shareholder value."

The fourth quarter portion of the report also gave an indication of how much WWE made off the Crown Jewel event in Saudi Arabia as well as the Super Show-Down. The WWE listed its 2017 fourth quarter total revenue at $146.4 million and its 2018 total revenue at $205.3 million, and most of that increase came from a revenue stream listed as "Other" jump from $20.6 million to $63.5 million

"(The increase is) primarily due to the distribution of certain live, in-ring programming content in international markets as reflected in 'other.'"

As pointed out by Pro Wrestling Sheet's Austin Kellerman, that means the additional $43 million the WWE earned in the final quarter can be attributed primarily to those two events.

WWE also saw its WWE Network subscription total reach 1.65 million, an eight percent increase from the previous year.

WWE concluded the report with a financial outlook for 2019, writing that the company expects to break its record revenue earnings again by reaching the $1 billion mark.

During the shareholders call, Barrios made a brief reference to the new All Elite Wrestling promotion by saying it can still invest in talent and keep its standing as the top company in the industry.

WWE's next network event, Elimination Chamber, takes place on Feb. 17 at the Toyota Center in Houston, Texas.

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