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WWE’s WrestleMania 32 event produced $29.4 million in revenue contributing to the Second Quarter 2016 financial results.
Last year, WrestleMania 31 contributed $24.9 million to First Quarter 2015 revenue.
However, WM32 was so expensive to produce that it reduced business operating profits by $0.2 million in the second quarter.
WWE noted in their financial release: “Specifically, the current year event reduced Media division (profit) by $17.5 million as the event’s production costs more than offset its related pay-per-view revenue, and the event increased Live Event and Consumer Products OIBDA by $17.3 million on a combined basis from ticket and merchandise sales.”
Sticking with costs, WWE reported $21.5 million of production and talent costs associated with WrestleMania.
This meant WWE essentially broke even from a live event perspective, as WWE noted that the WrestleMania live event “generated revenue of approximately $21.5 million in the current year quarter.”
Break Down of WM32 Revenue (Q2-2016)
- TOTAL CONTRIBUTION: $29.4 million
- Live Event: $21.5 million
- Network Subs attributed to WM32: $4.0 million
- Venue Merchandise: $3.9 million
For comparison purposes…
Break Down of WM31 Revenue (Q1-2015)
- TOTAL CONTRIBUTION: $24.9 million
- Live Event: $15.7 million
- Network/PPV Buys: $4.9 million
- Venue Merch: $3.3 million
- TV Rights Fees: $1.0 million
The key item is a reduction in Network PPV Revenue attributed to WrestleMania. It appears with WWE offering Mania for free to new Network subscribers, WWE did not report as much revenue directly related to the Network as last year.
More Reports @ WWE Q2 2016 Central.