WWE released their third-quarter numbers and things certainly do not look good for the company.
According to a report by Tony Maglio, WWE’s third-quarter financials show a huge drop. WWE’s net income for the WWE Network fell by 83% from the last third quarter. Apparently this is due to the performance of shows and having fewer tax benefits.
WWE Network had 1.51 million average paid subscribers in #Q3, down 9% from the prior year.
That 20,000 fewer than management expected. WWE now expects a decline to 1.43 million in Q4, which would be a 10% drop year over year.
I charted every quarter of #WWENetwork’s average paid subscribers since in launched in Feb. 2014 here if you wanna see that WWE’s net income dropped 83% from last #Q3 to this one. That’s due to performance and fewer tax benefits.
That’s a big number on a percentage basis, but we’re dealing w/ relatively light income to begin with ($33.6 million to $5.8 million), which makes it look so dramatic.
This is definitely a bad sign for the company. We wonder if they will be able to alleviate the situation and get more fans to watch the WWE Network. With Steve Austin’s new show coming to the WWE Network soon enough, perhaps more viewers will come.
https://twitter.com/TonyMaglio/status/1189887240396296192?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1189887240396296192&ref_url=https%3A%2F%2Fwww.ringsidenews.com%2F2019%2F10%2F31%2Fwwe-income-drops-huge-in-important-area-from-last-year%2F
