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May 1, 2014

WWE Conference Call Highlights: New TV Deal Update, Tough Enough Returning, Total Divas & WWE Studios News, 2nd Quarter Losses Expected

WWE held a conference call for its first quarter financials this morning, and it was hosted by Michael Weitz, George Barrios and Vince McMahon. The following are some highlights from the call:

-Vince said that with Network subscriptions and PPV buys, WrestleMania 30 did over 1 million buys, and the launch of the Network has been well received by fans and industry experts.

-Vince said WWE will be announcing a new TV deal in several weeks, and the company is currently negotiating in India.

-Barrios said WWE maintains the belief that the Network will hit 1 million subscriptions by the end of the year, and 2 to 3 million as the Network grows.

-Barrios said Tough Enough will be coming to the Network, but he did not specify whether or not it will be new seasons of the show, or archives of past seasons.

-TV revenue was up thanks mostly to Total Divas. WWE Studios revenue was up mostly thanks to The Call. Scooby-Doo and Oculus are delivering strong performances that are in line with expectations.

-Live event revenue was up from the previous year's quarter due in part to a rise in ticket prices and new VIP packages.

-They expect a $7-$10 million loss for the second quarter of this year.


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