WWE Network Tops 2 Million Subscribers
WrestleMania 34 boosts the WWE Network to a record 2.12 million subscribers
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