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WWE Expects Peacock Deal to Help Boost Profits in 2021



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 6 months ago '18        #1
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Eclectic  topics gone triple plat - Number 1 spot x95
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WWE Expects Peacock Deal to Help Boost Profits in 2021
 

 
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"WWE issued a bullish forecast for adjusted operating income in 2021, citing as one of the key factors its new deal to fold the U.S. version of its WWE Network streaming outlet into NBCUniversal’s Peacock.

On Monday, WWE and NBCU announced a multiyear pact to bring WWE Network exclusively to Peacock in the U.S.

Subsequently, WWE announced that it expects to report record 2020 operating income of $209 million and record adjusted operating income of $286 million (up almost 60% from 2019). In addition, WWE said it estimates the company can achieve 2021 adjusted operating income of $270 million to $305 million, citing revenue growth “driven by the impact of the Peacock transaction” as well as the gradual return of ticketed live events and the “escalation of core content rights fees.” Operating income will take a hit from increased personnel and production expenses this year, the company said.

WWE stock was down 1.6% in early trading Monday on the Peacock news and updated financial guidance.

In mid-March, WWE Network‘s approximately 1.1 million existing U.S. subscribers will be migrated to Peacock Premium, where they’ll continue to get access to WWE Network but will have the option to pay 50% less — $4.99/month vs. $9.99/month — and get full access to the Peacock Premium tier with ads. WWE Network also will be available on the no-ads Peacock Premium Plus plan ($9.99/month).

Financial terms of NBCU’s deal to make Peacock the exclusive U.S. home of WWE Network were not disclosed. Nick Khan, WWE president and chief revenue officer, told Variety in an interview, “We feel great about the financials. Otherwise we wouldn’t have done the deal.” He noted that by shifting WWE Network to Peacock, WWE expects to cut some operating costs for the over-the-top service.

WWE is set to report Q4 and full-year 2020 results on Thursday, Feb. 4, after market close.

The company said it expects COVID-related restrictions that could result in cancellation, postponement or reduced capacity of ticketed live events to continue at least through the first half of 2021. It also anticipates a “significant year-over-year increase in WWE’s expense base” due to the full return of employees from furlough and continued higher expenses a*sociated with the production of its weekly “Raw” and “SmackDown” show at the WWE ThunderDome at Tropicana Field in St. Petersburg, Fla.

Backing out the impact of COVID-19, WWE estimated that the 2021 adjusted operating income guidance range would be 15%-20% higher.

The company provided 2020 and 2021 estimates for adjusted operating income before depreciation and amortization (OIBDA), which excludes depreciation and amortization, stock-based compensation expense, certain impairment charges and other non-recurring material items “that otherwise would impact the comparability of results between periods.” The metric does include depreciation and amortization of expenses directly related to WWE’s revenue-generating operations, including feature film and TV production a*set amortization and amortization of costs related to content delivery and tech a*sets used for the WWE Network."

visit this link https://variety.com/2021/ .. 21-1234891311/
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 6 months ago '04        #2
Kadroan  topics gone triple plat - Number 1 spot x15
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Great move WWE. WWE Network barely has a million subscribers. Peacock got 20+ mil plus.

Curious to see if one day WrestleMania airs on NBC.

 6 months ago '10        #3
stizz44  topics gone triple plat - Number 1 spot x1
Props total: 4261 4 K  Slaps total: 840 840
I miss the days back when WWE was about pro wrestling.
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 6 months ago '04        #4
Burym3ag 
Props total: 2192 2 K  Slaps total: 219 219
 stizz44 said
I miss the days back when WWE was about pro wrestling.
Bet, only reason to even have the WWE network is to watch the old stuff

 6 months ago '17        #5
bmf24eva  topics gone triple plat - Number 1 spot x3
Props total: 17499 17 K  Slaps total: 4636 4 K
How you steal all the best wrestlers from prime ROH + NJPW + Evolve + TNA and somehow have pretty much unwatchable shows (aside from NXT...which sadly has been getting worse the last year or 2) is a testament to Vince McMahons overrated genius which in reality was always just dumb luck.
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 6 months ago '10        #6
stizz44  topics gone triple plat - Number 1 spot x1
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 Burym3ag said
Bet, only reason to even have the WWE network is to watch the old stuff


YES! Currently re-watching 1996-1998 Bret Hart , Shawn Michaels, Stone Cold, and Mankind. Back when Vince used to lose his mind over a simple table bump. This stuff was piff.

Current pay-per-views are cool too, for a 1 time watch.
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 2 months ago '14        #7
215Philly  topics gone triple plat - Number 1 spot x8
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 stizz44 said
YES! Currently re-watching 1996-1998 Bret Hart , Shawn Michaels, Stone Cold, and Mankind. Back when Vince used to lose his mind over a simple table bump. This stuff was piff.

Current pay-per-views are cool too, for a 1 time watch.
Im looking at this sh*t now, they got every season and ppv, I cant believe it. I cant even binge watch all this

 1 month ago '04        #8
all3rd  topics gone triple plat - Number 1 spot x24
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Sounds like tickets sales outside of the Texas evens, Chicago Raw, and Summerfest are generally AEW range.



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