Higher toy sales boost WWE in Q3 - Licensing.biz

Higher toy sales boost WWE in Q3

Mattel partnership continues to pay dividends for firm, as toy revenues up by $2.4m for period.
Author:
Publish date:
Social count:
0
1_184_6391_184_6078_184_5722_WWE logo.jpg

WWE has reported its financial results for its third quarter ending September 30th.

Revenues from its consumer products businesses decreased by seven per cent to $21.4 million from $23.0 million in the prior year quarter. This can mainly be attributed to the performance of its home video business, where net revenues were $7.2 million compared to $11.2 million the previous year.

Licensing revenues, however, were boosted to $10.8 million (from $7.9 million), predominantly due to higher toy sales.

Revenues related to toys increased by approximately $2.4 million, reflecting improved performance and the strength of WWE's partnership with Mattel.

Revenues from video games decreased by $0.5 million, while magazine publishing net revenues were $2.6 million, as compared to $3.4 million in the prior year quarter.

As a business overall, WWE reported total revenues of $109.6 million (2009: $111.3m) and operating income of $20.3 million (2009: $14.5m). Net income was $14.3 million (2009: $8.9m).

"We generated earnings growth despite a decline in revenue across many of our businesses," said Vince McMahon, chairman and CEO at WWE. "We believe our ongoing talent transition and the sluggish economy were important factors in these declines. Based on our history of developing talent and creating content with broad appeal, we are confident we can address these creative challenges.

"Further, by taking advantage of our strategic opportunities, we can achieve meaningful growth."

Related

Featured Jobs

Universal Job Logo 620 x 349

Senior Graphic Designer, EMEA - Consumer Products

Working in tandem with the Product Development team and reporting into the Design Manager EMEA, the purpose of this role is to drive forward our creativity across all licensed consumer products. As part of the creative team, you’ll be developing exceptional creative assets and product concepts for numerous NBCUniversal franchises that inspire licensing partners across the entire region.

Aardman Job Logo 620 x 349

Brand Manager (Maternity Cover)

Part of the brand team, The Brand Manager works closely with several members of the department, including Studio Publicist, Community Managers, Licensing, Sales and Attractions and Live Experiences teams to implement local and international strategies in the form of brand plans and maximising on all activity surrounding the properties.