WWE Chairman/CEO Vince McMahon and Interim CFO Frank A. Riddick addressed investors for their quarterly conference call covering the 2019 financials for Q4.
Some quick highlights from the call:
In regards to the future of the WWE Network, McMahon said that there are many options including a free tier and potential selling content rights to other streaming platforms. McMahon said ads are a possibility for the WWE Network. McMahon also said that an OTT deal with “major players” would be announced in Q1.
McMahon was asked about potentially having WWE merge or work with the XFL but he shot down that idea and said the XFL is a completely separate company.
In regards to the lack of new TV deal in India, Riddick blamed regulatory changes in India. Riddick said he expects a new Middle East deal but there are intricacies involved that have caused delays.
McMahon says they have better storylines, better production values, new talent and there is growth. He noted that it takes a while to put everyone in the right place and right storylines. He feels that they have what they want going into WrestleMania.
McMahon was asked about AEW being “edgy” and if it has impacted WWE. McMahon said WWE is about characters, storylines, and resolutions and AEW has not changed WWE’s point of view. McMahon says WWE will remain PG and NXT is doing “extremely well” competing with AEW and he’s confident that NXT will continue succeeding.
In regards to talent costs going up, McMahon said that those costs have gone up as revenue has increased and “we’re quite proud of it.” McMahon did not mention the stories about the company paying talent more money because of AEW.
McMahon said there is a search to fill the roles previously held by George Barrios and Michelle Wilson but he is also confident in his current management team.
Click here for the full quarterly financial results report.
