Live Recap From The WWE 2021 Q3 Earnings Call With Vince McMahon And Other Executives
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WWE Chairman & CEO Vince McMahon, Chief Revenue Officer & President Nick Khan, Chief Branding Officer Stephanie McMahon, Chief Financial Officer Kristina Salen, and SVP Financial Planning & Investor Relations Michael Weitz are hosting a Third Quarter 2021 Earnings call today from WWE headquarters in Stamford, CT. You can check out coverage of today’s press release at this link. Below are highlights from the call:
Weitz opened the call and welcomed everyone, then went over the basics. Vince touted the solid financial results and said they’re pretty strong due to the global demand of all things WWE, including the return to live event touring. Vince said live event touring is where the WWE brand really comes alive, unlike any other media company, and they’re raising their 2021 guidance due to the results. He mentioned that they only had 1 event in Saudi Arabia this year due to the COVID-19 pandemic, and noted that they saw a number of positive trends this quarter, and their eyes are open to many more ways they can take advantage of their IP and the evolution of sports entertainment. Vince turned the call over to Nick.
Nick thanked everyone for calling in. He mentioned how RAW’s rights with Hulu is coming to an end towards the end of 2022. He said NBC was an active Hulu owner in 2018 and Peacock didn’t exist then, indicating they may be interested. He said the battle for RAW rights will be intense and fun. Khan said WWE continues to expand their original programming slate, touting the third season of Miz & Mrs. Escape The Undertaker on Netflix. He touted how they merged content departments into one place six months ago, WWE Media. They will soon announce a bunch of scripted and non-scripted content, and recently completed a WWE kids cartoon with a streaming platform. He said they are bulling on upcoming TV rights negotiations as they were before, which brought in massive new revenue for the company. He said they have interest from new buyers.
The early…
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Source : wrestlinginc
