WWE grows its licensing programme in Q1
Wednesday, 9th May 2012 at 10:49 am
Strong home video sales offset a decline in revenues from video games and toys.
In WWE’s Q1 2012 results total revenues grew to $123.1 million, up from $119.9 million in the corresponding quarter 2011.
Revenues from its consumer products division rose two per cent, to $35.5 million, driven by increased sales in home video.
Despite decline in video games and toys, licensing bought in $24 million compared to $23.9 million in the prior year quarter, as “the recognition of minimum guarantees was offset by a decline in royalties earned from several product categories.”
Revenue from sales of video games declined 11 per cent while toys took a six per cent hit.
Vince McMahon, chairman and chief executive officer said: “Through the first quarter, we made important progress on our key strategic initiatives, developing our foundation for creating and distributing new content, and building on tremendous brand strength, especially in social media.
“Looking ahead, we are confident that we will leverage the broad appeal of our concent to transform our business and drive long-term earnings growth.”
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