Read on for my thoughts on yesterday's WWE earnings results and financial news.
WWE released their third quarter 2019 earnings report:
- Very slightly down from last year. In theory nothing to be concerned about, but things were expected to see a big boost.
- Yeah and what happened to that 3.9 million audience within two weeks??
- Well the digital business is doing well as far as getting a lot of people on their social channels, but it's not really driving revenue.
- Interesting remarks about Middle Eastern content deals.
- "Accelerated investment to support content creation" means spending a lot of money on NXT to compete with AEW, I'm betting. Must be nice to have that kind of cash to blow!
- Whoaaaa changes need to take place with live events. To some degree we're already seeing that with poorly performing shows being dropped.
- DAMN. The Network's taken a hit. I hope they know what they're doing with targeting the fan who wants to see PROGRESS on the channel instead of trying to get the soccer mom with three kids who love John Cena.
- Wow, yeah, look at how many live events they dropped. This is a real problem.
- Merch sales are lagging, too. Time for some overdue changes. I'd like to see them do more of a Pro Wrestling Tees approach of getting talent to make their own designs and getting them out there, etc.
WWE stock dropped more than 15 percent on Thursday. That's very significant. They will likely rebound once those big NBCU and FOX TV deals start taking effect, but it's telling where they would be without those boosts.
WWE did a conference call to discuss the financials, recapped here:
- Things are bad when you're praising the fact declines are slowing down. As always, they have a LOT of money and aren't going anywhere for a long, long time, but there are concerns here.
- Damage control on the state of their live events. A serious change in approach is needed.
- NXT moving from the Network hurts the Network, but it's been struggling regardless and needs an overhaul.
- Is there really a big level of demand for the stuff they're making for the Network? I'm not seeing it from the numbers.
- Interesting remarks about Saudi Arabia. Losing some of that pay would further harper them, but, again, those TV deals are MASSIVE.
- Ha. Yeah. Tyson and Cain didn't come cheap.
- I'm starting to question the wisdom of the NXT to USA investment, but maybe it pays off in future years.
- It's clear from the numbers change is needed at the top.
- Wow. These stockholders are asking good questions.
More wrestling tomorrow.
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