Successful consumer products division helps entertainment firm grow in the fourth quarter.World Wrestling Entertainment has reported a revenue increase of 23 per cent for its fourth quarter ending December 31st 2007 - with its growing consumer products and licensing division contributing a healthy sum.
Revenues totaled $132.6 million compared with $107.6 million in the prior year quarter. Operating income was $24.7 million as compared to $17.5 million for the same period the prior year, while net income was $21.5 million.
Revenues from the consumer products businesses were $35.3 million versus $23.9 million in the prior year quarter, a 48 per cent increase.
Home video net revenues were $19.8 million up from $14.0 million, with the increase attributed to strong performances of several new titles.
Licensing revenues were $9.4 million reflecting increases in apparel, toy and novelty related sales of 128 per cent, 48 per cent and 161 per cent respectively.
Magazine publishing net revenues were $6.0 million, compared with $3.3 million in the prior year quarter.
"We expect our initiatives for international expansion and the continued improvement in our digital media and wireless businesses will help us sustain our growth momentum in 2008," said Linda McMahon, CEO.
Meanwhile, WWE has revealed that Mattel will become the master toy licensee for the property as of 2010.