WWE Q4 Financials: TV Revenue Up 20 Percent

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The WWE released their Q4 financial report today, and in that report broke down the performance of the TV, Home Entertainment and Digital media departments. Here is how that broke down…

* Television revenues increased 20% to $50.5 million from $42.1 million in the prior year quarter primarily due to the renegotiation of a key distribution agreement, which became effective in the fourth quarter 2014. Additionally, the growth in television revenues reflected contractual increases in existing international distribution agreements.

* Home Entertainment net revenues increased to $7.8 million from $5.1 million in the prior year quarter predominantly due to the recognition of a $2.1 million minimum guarantee associated with 2014 sales. Unit shipments declined 47% due, in part, to the transition of home entertainment distribution from Cinedigm to Warner Bros., but were partially offset by an increase in average effective price. The decline in unit shipments reflected reduced shipments of WWE’s catalog titles, which are typically characterized by lower prices and margins. The average effective price increased 65% to $12.55 primarily from the change in product mix.

* Digital Media net revenues were $4.0 million compared to $7.0 million in the prior year quarter. The decline reflected lower advertising across various platforms as well as lower monetization of the Company’s pay-per-view webcasts via WWE.com as these events became available on WWE Network. Additionally, the decline reflected the absence of revenues associated with the Company’s Magazine Publishing business, which was discontinued in the third quarter 2014.

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