WWE announced its financial results for the second quarter of 2023, reporting revenue of $410.3 million, marking a significant 25% increase and setting a new quarterly record.
The press release also highlighted remarkable viewership growth for WWE SmackDown and Raw, with both shows experiencing a surge of 26% and 19%, respectively, in the important 18-49 demographic.
WWE’s premium live events also achieved outstanding global viewership records. Year-over-year, these events witnessed substantial growth with increases of 29%, 34%, and 45%, respectively. Additionally, the live events revenue soared, rising by an impressive 51% compared to the same period in the previous year.
Second Quarter 2023 Highlights
- Revenue was $410.3 million, an increase of 25% and a quarterly record; Operating income was $87.3 million, an increase of 26%; and Adjusted OIBDA1 was $140.7 million, an increase of 54% and a quarterly record
- Returned $9.8 million of capital to shareholders through dividend payments
- Viewership for WWE’s weekly flagship programs, SmackDown and Raw, increased 26% and 19%, respectively, in the P18-49 demo, significantly outperforming overall broadcast and cable television, which both declined 12%
- Each WWE premium live event (WrestleMania, Backlash and Night of Champions) set global unique viewership records with year-over-year increases of 29%, 34% and 45%, respectively
- Live Events revenue increased 51% over the prior year period, reflecting continued strong demand for domestic and international events. North American Live Event average attendance was 9,870, an increase of 45% and a quarterly record
- In July, Money in the Bank was held at The O2 in London. Money in the Bank was WWE’s highest-grossing arena event in company history. Money in the Bank also set new records for viewership, sponsorship revenue, merchandise revenue and social media activity