WWE® Network Hits Record 2.1 Million Subscribers
WWE® Raises Q1 and Full Year 2018 Guidance
STAMFORD, Conn.--(BUSINESS WIRE)-- WWE® (NYSE:WWE) today announced that its digital streaming service, WWE Network, reached a record 2.12 million total subscribers following last night’s WrestleMania®.1 This is a 9% increase from April 3, 2017, the day after WrestleMania last year.
“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.”
WWE Network Subscriber Highlights
WWE Network achieved record levels of total and total paid subscribers as of April 9, 2018. Total paid subscribers reached 1.81 million, representing a 9% increase from April 3, 2017 – the day after WrestleMania last year.
WWE Network total subscribers at WrestleMania 34 and WrestleMania 332,3:
April 9th, 2018
April 3rd, 2017
|Total (Paid + Free Trial)||2,124||1,949||9%|
- 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.4
Total subscribers following WrestleMania exclude pay-per-view buys with cable and satellite providers.
Metrics reflect subscribers who are direct customers of WWE Network and subscribers reported under licensed partner agreements, which have different economic terms for the network. The impact of these subscribers on WWE Network results is reflected in the network’s average revenue per subscriber (ARPU).
Additional information regarding WWE Network subscriber levels can be found in the Company’s website presentation at corporate.wwe.com/investors.
|(4)||WWE is unable to provide a reconciliation of forward looking guidance to GAAP measures as, at this time, WWE cannot accurately determine the adjustments that would be required. Further information regarding such reconciliations can be found on page 5 of this release.|
Additional information regarding estimated WWE Network subscriber levels can be found in the Company’s website presentation at corporate.wwe.com/investors.
As previously announced, WWE is hosting a conference call at 4:00 p.m. ET (3:00 p.m. CST) today to provide an update on the growth of WWE Network, including the level of subscribers following WrestleMania. All interested parties are welcome to listen to a live web cast that will be hosted through the Company’s web site at corporate.wwe.com/investors. Participants can access the conference call by dialing 855-200-4993 (toll free) or 323-794-2092 from outside the U.S. (conference ID for both lines: 6005057).
The presentation referenced during the call has been made available on the Company’s website at corporate.wwe.com/investors. A replay of the call will be available approximately two hours after the conference call concludes, and can be accessed on the Company’s web site.
About WWE Network
WWE Network is the only place to stream all live WWE pay-per-view events, including WrestleMania, at no additional cost plus 24/7 programming featuring groundbreaking original series, documentaries, classic matches, reality shows, exclusive coverage of special events and the most comprehensive video-on-demand library with more than 10,000 hours of content, including every WWE, WCW® and ECW® pay-per-view.
Like other digital streaming services, such as Netflix and Hulu, fans can sign up for WWE Network online at WWENetwork.com and stream WWE Network through connected devices such as Sony PlayStation 3, Sony PlayStation 4, Xbox One, Xbox 360, Amazon Fire TV, Apple TV and Roku streaming devices as well as Smart TVs including Sony, Samsung and Panasonic.
For a complete listing of WWE Network availability by country and device, please click here.
WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family friendly entertainment on its television programming, pay-per-view, digital media and publishing platforms. WWE programming reaches more than 650 million homes worldwide in 20 languages. WWE Network, the first-ever 24/7 over-the-top premium network that includes all live pay-per-views, scheduled programming and a massive video-on-demand library, is now available in almost all international markets other than embargoed countries. The Company is headquartered in Stamford, Conn., with offices in New York, Los Angeles, London, Mexico City, Mumbai, Shanghai, Singapore, Dubai, Munich and Tokyo.
Trademarks: All WWE programming, talent names, images, likenesses, slogans, wrestling moves, trademarks, logos and copyrights are the exclusive property of WWE and its subsidiaries. All other trademarks, logos and copyrights are the property of their respective owners.