WWE announced today that they are expecting at least 1.40 million average paid subscribers for the WWE Network for the fourth quarter of 2016 and that they have raised the low end of their projected range of average paid subscribers for the quarter. You can check out the full press release below:
WWE Reaffirms Fourth Quarter 2016 Adjusted OIBDA and Operating Income Guidance
Raises Expectations for Fourth Quarter 2016 Average Subscribers
STAMFORD, Conn.--(BUSINESS WIRE)-- World Wrestling Entertainment, Inc. (NYSE:WWE) today announced that the Company has raised the low end of its projected range of average paid WWE Network subscribers for the fourth quarter 2016 and reaffirmed its 2016 Adjusted OIBDA and Operating income guidance.
Specifically, the Company announced that it expects at least 1.40 million average paid subscribers to WWE Network for the fourth quarter 2016. The Company reaffirmed its projections for fourth quarter Adjusted OIBDA of approximately $20 million to $24 million (Operating income of $12 million to $16 million). For the full year, the Company anticipates 2016 Adjusted OIBDA of $80 million to $84 million (Operating income of $54 million to $58 million) and average paid subscribers to WWE Network of approximately 1.42 million representing growth of 25% for the full year.
Note: Reconciliation of Q4 2016 and full year 2016 Operating Income to Adjusted OIBDA can be found in the Supplemental Information in this release.