WWE held its 2020 fourth quarter earnings conference call on Thursday that featured WWE Chairman & CEO Vince McMahon, President & Chief Revenue Officer Nick Khan, Chief Financial Officer Kristina Salen, and Chief Brand Officer Stephanie McMahon. Here are the highlights:
– The conference call opens with a welcome to everyone on the call. Vince made opening remarks on the call, which didn’t air during the streaming web call. He didn’t say anything after this.
– Khan talked about some key things such as working with Bad Bunny, WWE Superstar Spectacle that was watched by over 20 million people, wanting to grow in Latin America, and more.
– Stephanie talked about being ahead of the curve by licensing the WWE Network to Peacock, Bad Bunny, and more. She mentioned Sasha Banks on Mandalorian, Rey Mysterio wearing the Victoria brand on his mask during the Royal Rumble.
– Salen brought up revenue highlights. Revenue was $974.2 million for the year, operating income was $208.6 million, an increase of 79% or $92.1 million compared to the previous year, and the net income was $131.8 million. She did mention WWE doesn’t anticipate the return to ticket live events until at least the second half of 2021, which excludes WrestleMania. WWE is expected to restart construction on the new global HQ in the second half of 2021.
– This was when they opened the call up for questions.
– Regarding the WWE Network to Peacock deal, the migration costs are figured into their forecast.
– When asked about WWE Network moving to Raw to help boost ratings, Khan noted that they have flexibility with NBCU to use some of the content on Raw to help ratings. He noted that they’re always looking to improve ratings. He added that they’re focused on growing Peacock as well.
– A caller asked what they plan to do to bring more viewers to the weekly TV shows. Khan stated that they don’t think they lost fans, but rather those fans not watching linear TV have moved to digital watching habits. He also thinks a good in-ring product will help drive viewers to traditional TV.
– Khan expressed enthusiasm about the Peacock deal and people can look for major events to be announced on NBC properties, similar to how Wrestlemania was announced during the football game.
– Khan notes broadcast isn’t going away as he put over FOX’s pre-Royal Rumble show, WWE Backstage. They are very happy with relationships with both NBC and Fox in that regard. Khan said the FOX Backstage special did over 1 million viewers
– Khan said WWE isn’t concerned about NBC Sports Network impacting them even though NHL games could air on the USA Network during Wednesdays, which also airs NXT. “There will be no effect on Raw or NXT.”
