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WWE reported increases in revenue and PLE viewership during a Q2 company investor call Tuesday morning.
Specifically, WWE revenue for the second quarter of 2022 was $328.2 million, an increase of 24% over second quarter in 2021. Operating income and Adjusted OIBDA1 increased as well.
The company also reported that each PLE in Q2 was the most-viewed in history with large growth in viewership over prior year. Those events were WrestleMania, WrestleMania Backlash and Hell in a Cell, which saw year-over-year increases of 60%, 49% and 45%, respectively, in domestic unique viewership on Peacock.
“We generated strong financial results in the quarter, highlighted by record revenue and Adjusted OIBDA for a second quarter,” said Stephanie McMahon and Nick Khan, WWE co-Chief Executive Officers. “We continued to effectively execute our strategy, including staging a record-setting WrestleMania in early April. WrestleMania, as well as our other premium live events (“PLEs”) including WrestleMania Backlash, Hell in a Cell, Money in the Bank and SummerSlam all delivered record viewership for their respective events. These PLEs, along with strong ratings for our flagship programs, Raw and SmackDown, continued to expand the reach of our brands and enhance the value of our content.
McMahon and Khan also noted the new management structure in place for WWE with Vince McMahon no longer involved in the day-to-day operation of the company and said they were excited about what they have in place.
“We’re excited about the recently announced management structure, including the appointment of Paul Levesque as head of WWE creative and talent, as we look to continue to increase the monetization of our IP across various platforms through our media rights agreements, both domestically and abroad, as well as our inaugural NFT drops on Moonsault, WWE’s official NFT marketplace, and the recent launch of our new, enhanced e-commerce digital platform in connection with our partnership with Fanatics.”
This was the first WWE investor call since Vince McMahon retired from the company amid allegations of sexual misconduct and hush money payments.