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WWE Studies $325.3m in 2022 4th Quarter Earnings Income amid Vince McMahon’s Return

Joseph Zucker@@JosephZuckerTwitter LogoFeatured Columnist IVFebruary 2, 2023Ethan Miller/Getty ImagesWWE generated a company record $1.3 billion across its 2022 fiscal year, sparked in part by a $325.3 million fourth quarter.”2022 was another strong year for WWE,” chief executive officer Nick Khan said Thursday. “We generated record financial results and our business continued to perform well due

WWE Studies $325.3m in 2022 4th Quarter Earnings Income amid Vince McMahon’s Return

Joseph Zucker@@JosephZuckerTwitter LogoFeatured Columnist IVFebruary 2, 2023

LAS VEGAS, NV - JANUARY 08:  WWE Chairman and CEO Vince McMahon speaks at a news conference announcing the WWE Network at the 2014 International CES at the Encore Theater at Wynn Las Vegas on January 8, 2014 in Las Vegas, Nevada. The network will launch on February 24, 2014 as the first-ever 24/7 streaming network, offering both scheduled programs and video on demand. The USD 9.99 per month subscription will include access to all 12 live WWE pay-per-view events each year. CES, the world's largest annual consumer technology trade show, runs through January 10 and is expected to feature 3,200 exhibitors showing off their latest products and services to about 150,000 attendees.  (Photo by Ethan Miller/Getty Images)

Ethan Miller/Getty Photos

WWE generated an organization report $1.3 billion throughout its 2022 fiscal yr, sparked partly by a $325.3 million fourth quarter.

“2022 was one other robust yr for WWE,” chief govt officer Nick Khan said Thursday. “We generated report monetary outcomes and our enterprise continued to carry out properly because of the power of our content material and model, which drove viewers engagement and monetization throughout a number of platforms.”

Stay occasions had been one space the place WWE noticed an enormous enhance to its backside line. Primarily based on its full earnings report, the corporate made $57.8 million in income from reside occasions in 2021. That determine rose to $123.1 million in 2022, with ticket gross sales greater than doubling from $46.3 million to $97.9 million.

WWE additionally boasted of a 70% improve in home viewership on the Peacock streaming service. The Royal Rumble this previous Saturday had its highest-ever viewership.

WWE stated it is projecting to have even increased total income in 2023:

“This anticipated efficiency displays an anticipated improve in media rights charges for the Firm’s flagship weekly programming and premium reside occasions, in addition to a full reside occasions touring schedule, together with two large-scale worldwide occasions, and a rise in promoting and sponsorship revenues.”

Nonetheless, it stays to be seen what—if any—affect Vince McMahon’s return to an official position inside the firm can have on attaining new media rights offers.

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Final June, WWE announced McMahon was eradicating himself from his chairman and CEO duties pending an investigation into allegations of misconduct. The next month, he abruptly retired.

The step got here after the Wall Road Journal‘s Joe Palazzolo, Ted Mann and Joe Flint reported McMahon had paid greater than $12 million to settle sexual misconduct allegations. Federal authorities became involved to scrutinize whether or not the payouts had been mirrored in WWE’s company earnings.

For all intents and functions, it appeared as if McMahon’s lengthy reign on the high of WWE was over.

Then the 77-year-old unexpectedly announced on Jan. 5 he was trying to return as the chief chairman of the board, on the similar time eradicating three members of the board and putting in three hand-picked replacements.

“WWE is getting into a crucial juncture in its historical past with the upcoming media rights negotiations coinciding with elevated industry-wide demand for high quality content material and reside occasions and with extra firms in search of to personal the mental property on their platforms,” McMahon stated.

That renewed rumors of a sale, or maybe a deal that will permit McMahon to take the corporate personal once more.

Given his expertise and the extent to which he is synonymous with WWE, his presence may strengthen the corporate’s place when negotiating over a brand new media rights contract. Conversely, the scandalous circumstances resulting in his hiatus may flip away potential suitors or cause them to drive a tough discount.

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