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Even amidst a global pandemic, WWE still found a way to post a record year financially.
On the WWE fourth quarter earnings call led by Nick Khan and Stephanie McMahon on Thursday, the company articulated record net income of $131.8 million and revenues of $974.2 million. Net income increased 71% over last year.Specifically, the media division was a key factor to overall growth with a 17% increase over last year due to various content rights revenue.
Khan spoke about the television ratings decline and said that as a company WWE wasn’t losing eyeballs, but that eyeballs were leaving traditional television in favor of digital. Average fourth quarter viewers for Monday Night Raw were down 19% from last year while Smackdown was down 15%.
As for the recently sold WWE Network, reported subscribers clocked in at 1,470,00 with 1,081,000 coming from the United States and 389,000 coming internationally.
Special credit to Post Wrestling for earnings report analysis.
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