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Post by Joe Neglia on Apr 23, 2020 13:49:31 GMT -5
Starting this and pinning it for the time being. The conference call will be starting at 5pm EST.
Putting this here so you can see the numbers and such in an easy Twitter thread - Your local neighborhood eJm.
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Zone Was Wrong
Bill S. Preston, Esq.
Currently living off the high that AEW brings every Wednesday and Friday
Posts: 16,189
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Post by Zone Was Wrong on Apr 23, 2020 13:53:31 GMT -5
Plenty of time to get popcorn. This outta be good.
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Gus Richlen Was Wrong
Patti Mayonnaise
Metal Maestro: Co-winner of the FAN Idol Throwdown!
Fun while it lasted
Posts: 38,508
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Post by Gus Richlen Was Wrong on Apr 23, 2020 13:53:54 GMT -5
I own exactly one share, which I picked up a month or so ago when their stock took a coronavirus-related dive. So I have an interest aside from the reasons that most of the rest of us here do.
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Post by Hypnosis on Apr 23, 2020 14:04:44 GMT -5
Plenty of time to get popcorn. This outta be good. They've got us covered:
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Post by Alyce: Old Media Enthusiast on Apr 23, 2020 14:14:32 GMT -5
This is going to be an essential viewing
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Post by EoE: Well There's Your Problem on Apr 23, 2020 14:17:07 GMT -5
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Post by ISO Mid Thigh Pull on Apr 23, 2020 14:19:27 GMT -5
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Post by Bang Bang Bart on Apr 23, 2020 15:18:26 GMT -5
Get that “Vince rubbing his ears” GIF ready.
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Steveweiser
Dalek
Mickie Mickie You're So Fine... Hey Mickie!
THE GRAPS
Posts: 50,249
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Post by Steveweiser on Apr 23, 2020 15:20:38 GMT -5
First Quarter 2020 Highlights Revenues increased 60% to $291.0 million as compared to the prior year quarter Operating income was $53.3 million as compared to a loss of $6.8 million in the prior year quarter Adj. OIBDA1 increased to $77.3 million from $12.4 million in the prior year quarter Announced multi-year distribution agreements with Sony Pictures Networks in India and DAZN in Germany to extend the reach of WWE content across television and digital platforms WWE Network average paid subscribers2 were 1.46 million, consistent with the Company’s guidance Digital video views increased 25% to 9.6 billion and hours consumed increased 15% to 344 million across digital and social media platforms3 WrestleMania Highlights (April 4-5, 2020) WWE set WrestleMania Week viewership records with more than 967 million video views across digital and social platforms4, representing a 20% increase from the prior year. A record 46 million hours of content was consumed during the week, an increase of 28% from the prior year WrestleMania (April 4 & 5, 2020) was the most social event in WWE history with more than 13.8 million total social media interactions on Facebook, Instagram and Twitter, up 57% vs. last year’s WrestleMania5 WWE Network’s WrestleMania weekend subscriber additions (Friday-Sunday) were the highest in its history. Total subscribers reached 2.10 million on April 6, 2020, up 5% from the day after WrestleMania last year COVID-19 Actions and Outlook Due to COVID-19 and related government-mandated impacts on WWE moving forward, the Company has implemented various short-term cost reductions and cash flow improvement actions. These precautionary measures include reducing executive and board member compensation, decreasing operating expenses, cutting third-party staffing, consulting and talent costs, and reducing employee headcount by way of furlough To enhance liquidity, management deferred spending on the Company’s new headquarters (reducing 2020 capital expenditures by $140 million), temporarily suspended the repurchase of stock under its $500 million program, and drew $200 million from its revolving credit facility after quarter-end Management continues to believe the Company’s growth prospects remain strong and that WWE is well positioned to take full advantage of the changing media landscape and increasing value of live sports rights over the longer term (See COVID-19 Actions and Business Outlook, page 7) corporate.wwe.com/news/company-news/2020/04-23-2020
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Post by eJm on Apr 23, 2020 15:26:09 GMT -5
So...Network subscribers were up for WrestleMania, revenue increased, income increased, precautions were taken to get more income...
And they still had to fire people.
As a Tongan New Zealander once said about a bunch of Americans...F*** ‘em!
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Post by Bang Bang Bart on Apr 23, 2020 15:27:55 GMT -5
This just makes the cuts from last week even more worse and cruel.
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Post by eJm on Apr 23, 2020 15:28:27 GMT -5
“Our first quarter financial performance was strong and largely unimpacted by the COVID-19 outbreak,”said Vince McMahon, WWE Chairman & CEO.
I’ll say it again; F*** and You.
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cjh
Hank Scorpio
Posts: 6,602
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Post by cjh on Apr 23, 2020 15:34:41 GMT -5
So.. .Network subscribers were up, revenue increased, income increased, precautions were taken to get more income... And they still had to fire people. As a Tongan New Zealander once said about a bunch of Americans...F*** ‘em! They weren't. The report states Network subscribers were down 8%.
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dbrussel
Don Corleone
Former WOW employee
Posts: 1,800
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Post by dbrussel on Apr 23, 2020 15:34:56 GMT -5
WM (economic part) is NOT included in the 1st Quarter report. The next one in July will be the real deal about the $$$$ impact
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Post by eJm on Apr 23, 2020 15:36:29 GMT -5
So.. .Network subscribers were up, revenue increased, income increased, precautions were taken to get more income... And they still had to fire people. As a Tongan New Zealander once said about a bunch of Americans...F*** ‘em! They weren't. The report states Network subscribers were down 8%. "WWE Network’s WrestleMania weekend subscriber additions (Friday-Sunday) were the highest in its history. Total subscribers reached 2.10 million on April 6, 2020, up 5% from the day after WrestleMania last year."
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cjh
Hank Scorpio
Posts: 6,602
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Post by cjh on Apr 23, 2020 15:39:20 GMT -5
They weren't. The report states Network subscribers were down 8%. "WWE Network’s WrestleMania weekend subscriber additions (Friday-Sunday) were the highest in its history. Total subscribers reached 2.10 million on April 6, 2020, up 5% from the day after WrestleMania last year." corporate.wwe.com/~/media/Files/W/WWE/press-releases/2020/1q20-earnings-pr.pdfPage 4 says "WWE Network’s average paid subscribers decreased 8% to approximately 1.46 million, consistent with the Company’s guidance."
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Post by eJm on Apr 23, 2020 15:39:21 GMT -5
WM (economic part) is NOT included in the 1st Quarter report. The next one in July will be the real deal about the $$$$ impact My question is, what possible impact would there be that would be a big factor besides WrestleMania? They seem to have their TV deals intact, there’s no indication merch isn’t being sold anymore and if anything, the fact they aren’t doing live events right now saves them more money than it loses. It might be less than expected, sure, but there’s nothing right now that reads enough to justify cutting a bunch of people. Not saying you personally were saying that, just pointing it out.
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Post by EoE: Well There's Your Problem on Apr 23, 2020 15:40:20 GMT -5
Funny thing is, if they made those same cuts and there was no virus going around, nobody would blink because, honestly, there were cuts that needed to be made just for sheer roster bloat (and in some cases, irresolvable creative differences). Instead, most of those talents are now one real bad break away from welfare cheques.
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Post by eJm on Apr 23, 2020 15:42:55 GMT -5
Funny thing is, if they made those same cuts and there was no virus going around, nobody would blink because, honestly, there were cuts that needed to be made just for sheer roster bloat (and in some cases, irresolvable creative differences). Instead, most of those talents are now one real bad break away from welfare cheques. I mean, they wouldn’t have made those cuts if the virus was around. That’s more the point.
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Post by eJm on Apr 23, 2020 15:46:48 GMT -5
"WWE Network’s WrestleMania weekend subscriber additions (Friday-Sunday) were the highest in its history. Total subscribers reached 2.10 million on April 6, 2020, up 5% from the day after WrestleMania last year." corporate.wwe.com/~/media/Files/W/WWE/press-releases/2020/1q20-earnings-pr.pdfPage 4 says "WWE Network’s average paid subscribers decreased 8% to approximately 1.46 million, consistent with the Company’s guidance." Yeah, apologies. They say both, technically but your point was more right since, well, the other bit of it is free subscribers.
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