Vince McMahon Touts Major WWE Revenue Milestone
WWE hit a major milestone of more than $1 billion in revenue last year.
The milestone was touted in Thursday's WWE Q4 2021 earnings report. 2021 revenue was up 12% from the year before, to $1.095 billion, the highest in company history.
WWE Chairman & CEO Vince McMahon touted the achievement twice, during his opening statement on the investors call, and in the press release issued for the earnings report.
"In 2021, we reached a significant milestone of over $1 billion in revenue, for the first time in the Company's history. We ended the year with strong performance across each of our business lines that reflected the engagement of a wider audience with distribution on new digital platforms, including Peacock, and the return of fans at our live events," Vince said in the press release. "We expect the execution of key initiatives in the coming year, such as the licensing of network content in international markets, monetization of new original series, and the continued shift to a stadium strategy for WWE's premium live events, will further expand the reach of our brands and enhance the value of our content."
In his opening statement to the call with investors, McMahon called the milestone remarkable, and pointed to how they continue to "reimagine" the company. He added that WWE's performance speaks for itself, and for the longevity the company has had.
"As you know, we generated a considerable increase in profit and revenue with revenue over $1 billion, which is somewhat remarkable for us," Vince said. "During the course of the year, we reimagined our business and reimagining our business is something, by the way, we do just about every month, if not every week around here. ... We obviously remain focused on our upcoming year of 2022 as well as years to come with working toward record revenue again as well as adjusted OIBDA and what have you.
"So our performance, we think, pretty much speaks for itself and it speaks for the longevity we've had for so many years, the opportunities that are there for us to grow exponentially."
For those who missed it, you can click here for the 2021 Q4 financial results released on Thursday, and you can click here for our recap of the call with investors.
Stay tuned for more.