Tag Archives: entertainment

Toys and Consumer Products revenue lifts as WWE negotiates Coronavirus fall-out

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The chairman and CEO of the sport and entertainment franchise, WWE, has championed the business’ creativity throughout a challenging environment, highlighted a strong performance for the brand in its third quarter financials.

WWE has been among the hardest hit by the coronavirus pandemic that has rendered live events – the model upon which WWE generates a majority of its income – impossible to maintain to the same volume and capacity of live audiences as pre-Covid times. Despite the impact that has driven a 97 per cent decrease in revenue generated by live events, the organisation remains optimistic.

Consolidated results see the franchise hit third quarter revenue of $221.6 million, an increase of 19 per cent – or $35.3 million – on the same period last year, that has been primarily driven by the growth of core content rights fees in the media segment. This revenue was partially off-set by the loss of ticket and merchandise sales that resulted from the cancellation, postponement and relocation of its live events.

Revenue generated from live events plunged to $0.7 million.

However, the brand’s consumer products sales witnessed a revenue increase of 17 per cent on Q3 2019, taking it to $19.9 million in reflection of increased merchandise sales at the Company’s e-commerce site, WWE Shop, and higher video game and toy royalties. Increased sales via its e-commerce platform substantially off-set the absence of venue merchandise sales resulting from the absence of ticketed audience events in the quarter.

“Our third quarter financial performance was strong and reflected our ongoing creativity in a challenging environment,” said Vince McMahon, WWE chairman and CEO. “We continue to adapt our business, as demonstrated by the creation of WWE ThunderDome, focusing on increasing audience interaction and engagement to support the value of our content globally.”

Kristina Salen, WWE chief financial officer, added: “In the quarter, we delivered revenue of $221.6 million and Adjusted OIBDA of $84.3 million based on increased rights fees for the Company’s flagship programming. With $638 million in cash and short-term investments at quarter-end, we believe WWE has substantial capital resources to manage challenges that may lie ahead and to deliver on key strategic initiatives.”

Net Income for the WWE business was $48.2 million, an increase from $5.8 million in the third quarter 2019, primarily reflecting stronger operating performance.

Bulldog Licensing signed as European licensing agent for Rolling Stone

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Bulldog Licensing has been appointed as the European licensing agent for the iconic music, entertainment, and politics media brand, Rolling Stone. Established for 50 years, Rolling Stone spans print, digital, social and events, and is now looking to leverage its brand, develop products and reach its extensive audience in new ways.

In the US, the Rolling Stone licensing programme is already underway with brand owners, Penske Media Corporation already working with licensees including Anheuser-Busch’s brewery Elysian Brewing for a Rolling Stone Lager, publishing deals with Alfred Publishing, Sellers Publishing, and Meredith, puzzles and games from Spin Master, and location based experiences including the Rock Room on Holland America Line ships and the Rolling Stone Bar & Grill at LAX airport.

Rolling Stone has a monthly footprint of 42 million people across its platforms, who access the brand for its photography, insightful reviews, in-depth interviews and award-winning journalism.

Across social media, Rolling Stone has 5 million Facebook fans, 4.5 million Instagram followers and 6.3 million Twitter followers worldwide. The UK is one of the strongest audiences and provides over 1 million unique users and 6.8 million page views each month to the rollingstone.com website.

Across Continental Europe, the brand enjoys a huge footprint with local editions in Italy, Germany and France reaching millions of people every month.

Discussions are already well underway with licensees across a diverse area of products with announcements expected very soon.

Kevin LaBonge, VP global partnerships and licensing at Penske Media Corporation, said: “We’re delighted to be working with the team at Bulldog Licensing as we expand Rolling Stone into new formats. Rolling Stone is a hugely iconic brand around the globe with millions of touchpoints every month in Europe alone.

“With Bulldog’s rich history of delivering large scale licensing programmes for iconic media properties we are excited to tap into their experience and energy to grow the Rolling Stone brand even further.”

Rob Corney, MD of Bulldog Licensing, added: “Rolling Stone is a true icon in the music, entertainment and politics industry and has a huge, dedicated audience. We’re thrilled to have them on our roster and are looking forward to building a consumer products programme across the diverse core classic and vivid culture graphic collections.”