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Tag: WWE Studios

  • TV segment pulls up WWE Network despite lower revenue: Q3-16 OIBDA

    TV segment pulls up WWE Network despite lower revenue: Q3-16 OIBDA

    BENGALURU: Despite a 13.7 per cent decline in WWE’s Television segment of its Media Division revenue, the segment reported a 21.8 per cent (year-over-year) y-o-y growth in OIBDA (Operating Income before Depreciation and Amortisation) for the quarter ended 30 September 2016 (Q3-16, current quarter) as compared to the corresponding year-ago quarter.

    WWE reported revenues of $164.2 million in Q3-16, 1.2 per cent lower than $166.2 million in Q3-15. The company’s OIBDA in the current quarter at $24.5 million was 4.7 more than the $23.4 million in Q3-15. The company reported net income of $11.1 million, or $0.14 per diluted share, as compared to net income of $10.4 million, or $0.14 per
    diluted share, in the corresponding prior year quarter.

    WWE has four divisions – Media Division, Live Events, Consumer Products and WWE Studios. Its largest division is the Media Division which has four segments, the largest of which is Television, followed by the Network Segment. Digital Media and Home Entertainment Segments are the other two segments of the Media Division.

    Company Speak

    “During the quarter, we continued to effectively execute our content strategy, which has resulted in record revenues to-date in 2016 and increased consumption across our media platforms,” said WWE chairman & CEO Vince McMahon. “This growth illustrates meaningful progress against our long-term strategic plan and provides the foundation for achieving our 2017 financial objectives.”

    WWE Chief Strategy & Financial Officer George Barrio stated, “We achieved a 24 per cent increase in average paid subscribers to WWE Network  and generated profits that were within the range of our guidance. We expect continued year-over-year growth in subscribers and profits for the fourth quarter resulting in strong full year performance that is in-line with our previous business outlook.”

    Media Division

    The Media Division reported revenue of $110.4 million in the current quarter, which was 3.9 per cent lower y-o-y than $114.9 million. The Division’s OIBDA for the current quarter increased 9.2 per cent y-o-y to $53.3 million from $48.8 million.

    Television segment revenue declined to $56.3 million in Q3-16 from $65.2 million in Q3-15. The company attributes this decline to “contractual increases in key distribution agreements were more than offset by the prior year impact of WWE’s licensed reality series, Total Divas and Tough Enough. There were no scheduled airings of these programs in the third quarter 2016, while the prior year quarter reflected approximately $14 million in revenue from the fourth season of Total Divas  (13 episodes) and  Tough Enough  (8 episodes).’

    Television segment’s OIBDA in the current quarter was $32.4 million versus $26.6 million in Q3-15.

    Network Segment revenues, which include revenue generated by WWE Network and pay-per-view, increased 10 percent to $45.1 million.   WWE Network subscription revenue increased 18 per cent to $42.8 million from $36.4 million in the prior year quarter based on a 24 per cent year-over-year increase in average paid subscribers to 1.46 million says the company.

    WWE Network says that it had 1.44 million total paid subscribers at the end of the third quarter, which represented a 17 percent increase from September 30, 2015. WWE Network had 1.07 million U.S. paid subscribers and 373,000 international paid subscribers at quarter-end.

    Network segment OIBDA of $17.4 million was essentially unchanged from the prior year quarter ($17.7 million) as the growth in WWE Network subscription revenue was offset by increased programming expenses, including a $3.2 million allocation of certain expenses shared between the company’s Network and Television segments. A portion of the increase in Network programming expenses relates to the company’s previously communicated strategic investments.

    WWE Network content, including pay-per-views, original series, NXT Takeover, and specials has continued to drive viewer engagement. During the quarter, the company says it has introduced compelling new content for WWE Network, including NXT Takeover Brooklyn III,   Holy Foley!,   WWE Draft Center Live, and Cruiserweight Classic, a 10-week global tournament.  The company says it is on pace to add more than 300 hours of original content to the network’s featured programming in 2016, and more than 2,500 hours of archival content to  WWE Network, which would result in an on-demand library of over 7,000 hours at year-end 2016.

    Live events

    Live Event revenues increased 9.6 per cent to $28.6 million from $26.1 million primarily due to the staging of 5 additional international events.

    Consumer Products

    Revenues from Consumer Products decreased 3.6 per cent to $21.6 million as higher online sales of merchandise at the Company’s e-commerce sites were more than offset by a reduction in licensing revenue.  Licensing revenues decreased 21.7 percent to $9.0 million primarily due to a lower effective royalty rate for our franchise video game,WWE 2K16, and lower sales of toy products.

    WWE Studios

    Revenues from filmed entertainment increased to $2.5 million as compared to $1.7 million in the prior year quarter.  The increase in revenue was due to the performance and timing of results from the company’s portfolio of movies. During the quarter, WWE Studios released two feature films, Scooby Doo! and WWE: Curse of the Speed Demon and Interrogation.  WWE Studios OIBDA increased $1.8 million due, in part, to the increase in revenues, and agreed changes to the terms of distribution of a previously released film, which resulted in lower expenses.

  • TV segment pulls up WWE Network despite lower revenue: Q3-16 OIBDA

    TV segment pulls up WWE Network despite lower revenue: Q3-16 OIBDA

    BENGALURU: Despite a 13.7 per cent decline in WWE’s Television segment of its Media Division revenue, the segment reported a 21.8 per cent (year-over-year) y-o-y growth in OIBDA (Operating Income before Depreciation and Amortisation) for the quarter ended 30 September 2016 (Q3-16, current quarter) as compared to the corresponding year-ago quarter.

    WWE reported revenues of $164.2 million in Q3-16, 1.2 per cent lower than $166.2 million in Q3-15. The company’s OIBDA in the current quarter at $24.5 million was 4.7 more than the $23.4 million in Q3-15. The company reported net income of $11.1 million, or $0.14 per diluted share, as compared to net income of $10.4 million, or $0.14 per
    diluted share, in the corresponding prior year quarter.

    WWE has four divisions – Media Division, Live Events, Consumer Products and WWE Studios. Its largest division is the Media Division which has four segments, the largest of which is Television, followed by the Network Segment. Digital Media and Home Entertainment Segments are the other two segments of the Media Division.

    Company Speak

    “During the quarter, we continued to effectively execute our content strategy, which has resulted in record revenues to-date in 2016 and increased consumption across our media platforms,” said WWE chairman & CEO Vince McMahon. “This growth illustrates meaningful progress against our long-term strategic plan and provides the foundation for achieving our 2017 financial objectives.”

    WWE Chief Strategy & Financial Officer George Barrio stated, “We achieved a 24 per cent increase in average paid subscribers to WWE Network  and generated profits that were within the range of our guidance. We expect continued year-over-year growth in subscribers and profits for the fourth quarter resulting in strong full year performance that is in-line with our previous business outlook.”

    Media Division

    The Media Division reported revenue of $110.4 million in the current quarter, which was 3.9 per cent lower y-o-y than $114.9 million. The Division’s OIBDA for the current quarter increased 9.2 per cent y-o-y to $53.3 million from $48.8 million.

    Television segment revenue declined to $56.3 million in Q3-16 from $65.2 million in Q3-15. The company attributes this decline to “contractual increases in key distribution agreements were more than offset by the prior year impact of WWE’s licensed reality series, Total Divas and Tough Enough. There were no scheduled airings of these programs in the third quarter 2016, while the prior year quarter reflected approximately $14 million in revenue from the fourth season of Total Divas  (13 episodes) and  Tough Enough  (8 episodes).’

    Television segment’s OIBDA in the current quarter was $32.4 million versus $26.6 million in Q3-15.

    Network Segment revenues, which include revenue generated by WWE Network and pay-per-view, increased 10 percent to $45.1 million.   WWE Network subscription revenue increased 18 per cent to $42.8 million from $36.4 million in the prior year quarter based on a 24 per cent year-over-year increase in average paid subscribers to 1.46 million says the company.

    WWE Network says that it had 1.44 million total paid subscribers at the end of the third quarter, which represented a 17 percent increase from September 30, 2015. WWE Network had 1.07 million U.S. paid subscribers and 373,000 international paid subscribers at quarter-end.

    Network segment OIBDA of $17.4 million was essentially unchanged from the prior year quarter ($17.7 million) as the growth in WWE Network subscription revenue was offset by increased programming expenses, including a $3.2 million allocation of certain expenses shared between the company’s Network and Television segments. A portion of the increase in Network programming expenses relates to the company’s previously communicated strategic investments.

    WWE Network content, including pay-per-views, original series, NXT Takeover, and specials has continued to drive viewer engagement. During the quarter, the company says it has introduced compelling new content for WWE Network, including NXT Takeover Brooklyn III,   Holy Foley!,   WWE Draft Center Live, and Cruiserweight Classic, a 10-week global tournament.  The company says it is on pace to add more than 300 hours of original content to the network’s featured programming in 2016, and more than 2,500 hours of archival content to  WWE Network, which would result in an on-demand library of over 7,000 hours at year-end 2016.

    Live events

    Live Event revenues increased 9.6 per cent to $28.6 million from $26.1 million primarily due to the staging of 5 additional international events.

    Consumer Products

    Revenues from Consumer Products decreased 3.6 per cent to $21.6 million as higher online sales of merchandise at the Company’s e-commerce sites were more than offset by a reduction in licensing revenue.  Licensing revenues decreased 21.7 percent to $9.0 million primarily due to a lower effective royalty rate for our franchise video game,WWE 2K16, and lower sales of toy products.

    WWE Studios

    Revenues from filmed entertainment increased to $2.5 million as compared to $1.7 million in the prior year quarter.  The increase in revenue was due to the performance and timing of results from the company’s portfolio of movies. During the quarter, WWE Studios released two feature films, Scooby Doo! and WWE: Curse of the Speed Demon and Interrogation.  WWE Studios OIBDA increased $1.8 million due, in part, to the increase in revenues, and agreed changes to the terms of distribution of a previously released film, which resulted in lower expenses.

  • WWE Studios closes $35 million credit facility with Bank Of America Merrill Lynch

    WWE Studios closes $35 million credit facility with Bank Of America Merrill Lynch

    MUMBAI: Santa Monica, CA-based WWE Studios has closed on a revolving credit facility worth $35 million with Bank of America Merrill Lynch (BofAML).  The deal comes after a multi-year successful run by the production company.

     

    With this new arrangement, WWE Studios expects to extend and grow their partnership base, which already includes Warner Bros., Lionsgate and 20th Century Fox.

     

    The proceeds of the facility will allow WWE Studios to execute further on its key strategy for long-term growth, increasing the number of mid-size budgets films, similar to The Call and Oculus, on its slate. The funds will also go toward the expansion of the acquisition slate.

     

    “WWE Studios is an amazing brand with a history of creating content with fascinating characters and storylines. This new facility will provide WWE Studios the capacity to build on the momentum from the last several years by producing and acquiring more branded and genre films.  The various platforms and global reach of both BofAML and WWE creates the perfect collaboration,” said Bank of America Merrill Lynch senior vice president Randy Hua.

     

    “This new relationship with Bank of America Merrill Lynch gives us the opportunity to be involved in higher profile films and expand talent relationships. Our audience craves larger-than-life stories, and we’re looking forward to using this new facility to bring even more of those stories to the big screen,” added WWE Studios president Michael Luisi.

     

    “The credit facility enhances WWE’s financial flexibility and is consistent with WWE’s film strategy and planned investment levels as previously communicated,” said WWE chief strategy and financial officer George Barrios.

     

    WWE Studios most recently launched a new label, Erebus Pictures, with media mogul Gene Simmons, which is set to finance and produce elevated horror movies.

     

    WWE Studios titles include The Call with Halle Berry and WWE Superstar David Otunga, Oculus directed by Mike Flanagan starring Karen Gillan and Katee Sackhoff,  Dead Man Down starring Colin Farrell, Noomi Rapace, Terrence Howard and featuring WWE Superstar Bad News Barrett, The Marine franchise featuring WWE Superstars John Cena, The Miz and WWE Diva Summer Rae, and Scooby-Doo! WrestleMania Mystery, which paired animated versions of WWE Superstars with Scooby and the gang.  Upcoming releases include Incarnate with Blumhouse Pictures starring Aaron Eckhart and featuring WWE Superstar Mark Henry, and a sequel to Scooby-Doo! WrestleMania Mystery starring WWE legend Hulk Hogan.

  • Aaron Eckhart to lead Blumhouse & WWE thriller Incarnate

    Aaron Eckhart to lead Blumhouse & WWE thriller Incarnate

    MUMBAI: Aaron Eckhart will star in small-budget thriller Incarnate from Blumhouse Productions and WWE Studios. The movie directed by Brad Peyton (Journey 2: The Mysterious Island) follows an exorcist (Eckhart) who taps into the subconscious of a possessed nine-year old boy (David Mazouz).

     

    Dark Tide scribe Ronnie Christensen penned the screenplay and Universal will distribute stateside. The latest co-production between Blumhouse and WWE Studios will also feature a cameo by WWE star Mark Henry. Jason Blum will produce for Blumhouse. WWE Studios’ Michael Luisi will be executive producer with Couper Samuelson, Michael Seitzman, Trevor Engelson, Stuart Ford, and Charles Layton.

     

    Blumhouse International is selling foreign rights. WWE Studios’ Bradley Buchanan negotiated the deal. Eckhart is repped by CAA.

  • WWE teams with Film Roman for adult animated comedy

    WWE teams with Film Roman for adult animated comedy

    MUMBAI: WWE Studios and Film Roman are going to co-finance and co-produce up to 13 three-minute webisodes of a new adult animated series, Camp WWE.

     

    Film Roman is the animation studio behind The Simpsons and King of the Hill. It will now help to bring to life an animated comedy about what WWE Superstars were like as kids. Mike Benson of Entourage and The Bernie Mac Show will script the series.

     

    “Film Roman has been involved with some of the most well-known and humorous animated series,” said WWE Studios president Michael Luisi. “They are the perfect partners for WWE Studios to capture our Superstars in a truly unique and fun way.”

     

    “Camp WWE is a new and exciting project with a great creative team for Film Roman to be working on with WWE Studios and we are very bullish on its prospects for success. With a combination of their unique personalities, distinctive characteristics and huge built-in loyal fan base, WWE Superstars make for ideal animation subjects in Camp WWE,” added Film Roman GM Dana Booton. “We are very pleased to be working with WWE Studios and hope that it will begin a mutually beneficial, long-term business relationship.”

  • Warner Bros. WWE Studios form tag team for Scooby Doo film

    Warner Bros. WWE Studios form tag team for Scooby Doo film

    MUMBAI: US film studio Warner Bros. and sports entertainment company WWE Studios, the film division of WWE, will co-produce a Scooby-Doo animated feature that will find Scooby and the gang solving a mystery at WrestleMania.
    WWE Superstars and Divas, including Triple H, John Cena, Kane and The Miz, will appear in animated form and lend their voices to the project. WWE chairman, CEO Vince McMahon will also lend his voice and appear in animated form.
    WWE Studios president Michael Luisi said, “We are excited to partner with Warner Bros. on this wonderful animated film. Kids and adults are going to enjoy seeing their favorite WWE Superstars in animated form join forces with an icon like Scooby-Doo to solve a mystery at the biggest pop-culture event of the year – WrestleMania.”
    When Shaggy and Scooby win tickets to WrestleMania, the entire gang travels in the Mystery Machine to WWE City to attend the epic event. However, when a mysterious ghostly bear appears and threatens to ruin the show, Scooby, Shaggy, Velma, Daphne and Fred work with WWE Superstars to solve the case.
    Warner Home Video executive VP, GM, TV Jeff Brown said, “Warner Bros. is thrilled to get into the ring with WWE Studios to bring fans an unprecedented animated adventure. We’re excited to leverage the WWE’s family-friendly brand and passionate fan base and integrate some of the most popular WWE Superstars and Divas within the Scooby-Doo gang.”