WWE signs multi-year deal with IGT (WWE)
WWE announced its revenue for 2021, and its the highest in company history
WWE announced earlier today that the company had made $1.095 billion in revenue in 2021. They ended the year on a strong note with more than a billion dollars in revenue. This was also the best the company has ever generated.
The most significant move the company made last year was its deal with NBCUniversal to have its content from WWE Network, including pay-per-view and special events, to the peacock streaming service. They also signed a multi-year agreement with IGT.
WWE Chairman Vince McMahon announced this significant milestone and was quoted saying,
“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,”
“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.” (H/t Fightful)
The company finished 2021 with net revenue of $1 billion, which was also the highest. For Q4 2021, WWE collected a net income of $310.3 million compared to 2020, which was $238.5 million.
One of the main reasons for this revenue has been their partnership with Saudi Arabia. They returned to the Kingdom of Saudi Arabia for Crown Jewel last October, and it turned out to be a financially profitable event.
Another main reason for the increase in revenue is the growth of domestic core content rights fees for RAW and SmackDown and the fans returning to attend shows post-pandemic.
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