WWE reports $14.2 million dollar loss and it’s all WWE Network’s fault

by 5 years ago

vincemcmahon

The WWE released it’s third quarter numbers this morning. The news went over about as well as a Brie Bella promo.

From the official WWE press release:

WWE today announced financial results for its second quarter ended June 30, 2014. For the quarter, the Company reported a Net loss of $14.5 million, or $0.19 per share, compared to Net income of $5.2 million, or $0.07 per share, in the second quarter last year. Excluding items affecting comparability, adjusted Net loss was $13.5 million, or $0.18 per share in the current year quarter, compared to Net income of $5.2 million, or $0.07 per share, in the second quarter last year. WWE Network reached 700,000 subscribers at quarter end.

I like that last line where they threw the WWE Network under the bus. Almost like they mumbled it under theirbreath. “Oh, and uh, we reached 700,000 subscribers. Even though we expected millions (drops shades, People’s Eyebrow)…AND MILLIONS…of fans to subscribe.”

Now, $14.5 million is a huge chunk, but for a major company like the WWE I’m not sure it’s time to freak out just yet. Starting a TV network, especially a subscription-based network, takes more than one year. Ask Oprah. I still don’t think her OWN network is killing it and for the first year it looked dead in the cable waters.

The “glass half full” news in all this is that the WWE doesn’t plan on making anymore talent cuts. The same can’t be said for the people in the main office. I don’t like to see anyone lose their job but if it comes down to an admin assistant or some guy on NXT, I don’t care how many a words a minute she can type, she’s got to go.

The WWE is far from being in financial trouble. In fact, news is already looking up.

As long as WWE doesn’t end up for sale on Craigslist any time soon, there is little reason to panic.

[via WWE]


TAGSVince McMahonWWEWWE Network