Home video sales hit consumer products overall, but licensing revenues rise.
WWE has reported its financial results for the second quarter ending June 30th 2011.
Overall, the company reported revenues of $142.6 million as compared to $106.8 million in the prior year quarter. Operating income was $21.0 million, compared to $10.3 million in the prior year quarter.
Revenues for WWE's consumer products businesses decreased seven per cent to $21.6 million from $23.3 million in the prior year quarter. This was mainly due to a decline in home video sales, partially offset by growth in the firm's licensing business.
Licensing revenues were $12.0 million as compared to $8.7 million, primarily due to video games. Revenues from the product category increased by approximately $4.2 million, led by the launch of new title WWE All Stars.
Revenues related to toys were essentially flat to the prior year quarter.
Home video net revenues were $7.5 million, down from $11.5 million in the prior year quarter, while magazine publishing net revenues were $1.6 million as compared to $2.5 million in the related 2010 quarter.
"Through the second quarter, WWE has generated top line growth across our four business segments led by the strength of Wrestlemania," commented Vince McMahon, chairman and CEO. "Wrestlemania XXVII achieved more than one million pay per view buys worldwide and reached record levels of both revenue and profit."