WWE Revenues Up 8% In 2008
TV revenues from SmackDown deal a bright spot for World Wrestling Entertainment
By B&C Staff -- Broadcasting & Cable, 2/24/2009 10:22:04 AM
World Wrestling Entertainment weathered a 5% drop in fourth-quarter revenues to end 2008 with revenues of $526.5 million, an 8% increase over the previous year, with a jump in TV revenues providing a bright spot.
WWE reported $125.4 million in Q4 revenues, down from $132.6 million in the prior year quarter. But while revenues from live and televised entertainment were similarly down, to $76.2 million from $82.3 million in Q4 2007, revenues from TV rights were up 16%-to $27.6 million from $23.8 million in the prior year quarter-thanks in part to the deal with MyNetworkTV for WWE's SmackDown franchise, which ran previously on The CW.
For the year, revenues from TV rights were $100.7 million, up from $92.4 million the previous year, while TV advertising revenues were $7.4 million, up from $5.9 million.
While 2008 revenues from WWE's 24/7 Classics On Demand were up nearly 30%, to $6.3 million, pay-per-view revenues were down 3%, to $91.4 million.
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