Licensing revenues up for WWE in Q4

Strength of partnership with Mattel underlined, as toy revenues increase by $4.0 million.
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The fourth quarter was something of a mixed bag for WWE - despite the licensing division putting in a strong showing, consumer products revenues overall decreased by four per cent, primarily due to the home video business.

The consumer products division reported revenues of $21.9 million for the quarter ending December 31st 2010. This is compared to $22.7 million in the prior year quarter.

The decline has come in the home video area, with net revenues standing at $5.8 million compared to $10.4 million in the prior year quarter. This reflects a $1.9 million reduction in WWE's wholesale home video revenues, a $1.6 million reduction from lower than expected sell-through rates for its current and prior period releases and lower revenue from its international licensing.

However, licensing revenues were $12.3 million (up from $8 million in 2009), primarily due to higher toy sales. Revenues related to toys increased by approximately $4 million, underlining the strength of WWE's relationship with Mattel.

Overall, WWE reported total revenues of $122.5 million for Q4 ($117.3m in 2009), while operating income was $14.4 million and net income was $8.1 million.

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