WWE is celebrating a monumental WrestleMania 34, along with a huge milestone for their WWE Network.
WWE announced that the WWE Network has reached a record 2.12 million subscribers, 1.81 million of which are paid subscribers, up 9% from April 3rd, 2017.
Additionally, by generating $14.1M in revenue WrestleMania 34 was the highest grossing event in the history of New Orleans SuperDome, which packed 78,133 fans for the epic event.
“We expect to deliver record subscriber levels, revenue and Adjusted OIBDA in 2018,” said George Barrios, WWE Co-President. “WWE Network’s continued growth along with our massive reach across traditional television as well as digital and social platforms, reaffirms the effectiveness of our global, multi-platform content strategy.”
More can be found at their official website, but here are some notes:
- WrestleMania broke the record for the Mercedes-Benz Superdome’s highest grossing entertainment event at $14.1 million, as a sold-out crowd of 78,133 fans from all 50 states and 67 countries attended the event. As part of the week-long WrestleMania celebration, WWE hosts five consecutive nights of events at the Superdome and the Smoothie King Center
- WWE Network subscribers viewed 25.2 million hours during WrestleMania Week or 14 hours per subscriber during the week. This compares to 22.5 million hours last year, a 12% year-over-year increase
WWE 2018 Perspective
Q1 2018: Based upon preliminary data, WWE Network attracted an average of approximately 1.56 million paid subscribers over the first quarter 2018, representing a 5% increase from the first-quarter 2017 average. The first quarter 2018 average was in-line with guidance of approximately 1.53 million.3
During the first quarter 2018, the Company realized stronger than anticipated performance. As a result, the Company expects Q1 Adjusted OIBDA of at least $30 million (subject to the completion of its quarterly close process), exceeding its previous guidance of $23 million to $27 million.4
Q2 2018: If the acquisition and retention of subscribers driven by WrestleMania is comparable to the subscriber activity associated with the prior year event, average paid subscribers for the second quarter 2018 would be approximately 1.77 million, representing an increase of approximately 8% from the second quarter 2017.5 As future subscriber performance may differ from prior activity, this range is provided for perspective rather than as guidance.
2018: WWE management continues to expect the Company to achieve another year of record revenue and has raised its target for 2018 Adjusted OIBDA to at least $145 million (excluding stock-based compensation expense), which would be an all-time record, exceeding its previous guidance of at least $140 million
WWE Hall of Famer Tammy ‘Sunny’ Sytch Jailed for Parole Violations
WWE Hall of Famer Tammy Sytch, known as “Sunny” during her career in professional wrestling, is again in trouble with the law.
According to The Express-Times, Tamara Lynn Sytch, 46, was being held on Tuesday in the Carbon County prison for violating parole terms related to guilty pleas from three drunken driving cases stemming 2016.
According to the report, Sytch was being held as of Tuesday in the Carbon County prison for alleged parole violations related to guilty pleas in 2016 in three drunken driving cases, court records show.
Additionally, court records show that a Carbon County judge on Feb. 15 issued a bench warrant for Sytch’s arrest, at the request of the Carbon County Adult Probation/Parole Department. Sytch allegedly missed a scheduled drug test for February 11th, failed to report as directed to her parole officer, and failed to maintain a stable residence or report her whereabouts, according to the department.
Sytch was being held as of Tuesday in the Carbon County prison for alleged parole violations related to guilty pleas in 2016 in three drunken driving cases, court records show.
WWE Superstar Jimmy Uso Arrested, Involved in Alleged Altercation with Police
WWE superstar and one half of tag team ‘The Usos’, Jimmy Uso, was recently in Detroit, Michigan for disorderly conduct and obstruction, according to TMZ.
Uso, 33, and his wife, fellow WWE Superstar Naomi, who was driving, were pulled over near downtown Detroit for driving in the wrong direction on a one-way street.
According to our police sources, cops say their 2018 Dodge Journey reeked of booze and officers ordered Naomi out of the car.
Jimmy, despite commands to do otherwise, then exited the car took off his shirt and jacket and squared up like he wanted to fight, with one officer saying that he took out his taser “cause he was scared for his safety”.
Jimmy eventually calmed down and complied, was taken to jail and released once he posted bond.
Vince McMahon Sells $22 Million Worth of WWE Stock
WWE Chairman and CEO Vince McMahon continues to sell off shares of WWE as he prepares for the re-launch of his football league, the XFL, in 2020.
According to recent SEC filings, McMahon recently sold 300,000 shares of WWE, valued at $74 a share, for an estimated $22 million, leaving McMahon with a hefty 3 million shares, for an estimated total well of $2 billion.
McMahon is clearly creating more financial cushion for his venture Alpha Entertainment, which owns the XFL, who recently announced the initial cities that will house XFL franchises that include Washington, Los Angeles, Dallas, Houston, Seattle, New York, St. Louis, and Tampa Bay.
As WWE has always innovative with their content distribution, highlighted by the success of the WWE Network platform, it will be interesting to see how the XFL will be setup.
With the popularity of Twitch streams and the less popular Mixer streams introducing more forms of entertainment to the potential of online streaming, it will be interesting to see how the XFL will choose to broadcast, and on how many platforms once it launches.
XFL will have it’s fair share of competition, but McMahon seems to be financially arming the league for a more successful run than it had back in the early 2000s.
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