By Jason Powell, ProWrestling.net Editor (@prowrestlingnet)
WWE executives hosted a conference call pertaining to the first quarter financial report that was released on May 3, 2023 at Corporate.WWE.com. The following are the highlights of the call. Refresh the page for the latest updates.
-The call was hosted by WWE CEO Nick Khan, WWE head of creative and talent Paul Levesque, and WWE Chief Financial Officer Frank Riddick. WWE Senior VP of Investor Relations Seth Zaslow read through the legalities and then turned things over to Khan for the opening statement.
-Khan spoke about the deal with Endeavor and the formation of TKO. He said they are now focused on their television rights deals. Khan touted the various records set by WrestleMania 39. Khan also spoke about Royal Rumble and Elimination Chamber events. He pointed to the success of Raw and Smackdown in the 18-49 demographic. He also mentioned the new agreement with Fanatics. Khan also about international touring and PLE events. Khan said they are excited about the company’s long term future.
-Riddick spoke more about the formation of TKO and joining forces with UFC via Endeavor. Riddick read through the earnings presentation that is available via the WWE corporate website.
-They opened the phones for questions (I’ll recap what I consider to be the most notable subjects).
-Khan said the company has had productive renewal talks with Fox and NBCU. He declined to offer a prediction on when new television rights deals will be finalized.
-Khan was asked about the extension of the Peacock deal. Khan said they would see what would happen. He noted that the deal isn’t up for a couple of years.
-Khan was asked about the exclusive negotiating period with Fox and NBCU and whether they can find out what other potential suitors may offer. Khan said exclusive means exclusive.
-A caller asked how they are prepared for life inside another company after being a family run business. The caller also asked about keeping creative fresh. Khan said they are excited about everything that will happen with UFC and Endeavor. Khan said they’ve known them for a long time, so they and the way they operate are not strangers to them. Khan spoke about the freedom that Endeavor offers and doubts that anyone from Endeavor ever told Dana White what match he should go with. Levesque said the excitement level is really high. He said they look forward to doing what they do creatively. He said he’s incredibly excited about what Endeavor brings to the table and how they can help the company grow internationally.
-Levesque was asked about changes that have been made creatively that may have triggered the increases in the ratings. Levesque said it comes down to assembling the right team. He said they have world class superstars. He also mentioned recruiting, the NIL program, and NXT. Levesque said they are focused on character development. He pointed to Sami Zayn and The Bloodline. He also said they have expanded the event horizon in terms of knowing where they want to be long term. Levesque said he doesn’t consider something that’s not working to be a failure, but rather something he can learn from.
-Khan was asked how long the exclusive negotiating period with Fox and NBCU lasts. “About a month each,” Khan replied.
-A caller asked about WWE Network international, including in the UK. Khan said they were having content about core content and the network with potential buyers in the UK. He spoke about running Money in the Bank in London and giving buyers a chance to understand what the product is.
-Khan was asked about the writer’s strike and how it could affect WWE. Khan said the WWE writers are not members of the guild, but the company is supportive of the writers of the guild and hope they can come to an agreement in short order. The caller also asked about how it could affect WWE content on A&E, but Khan said the strike would not have any effect on that programming. They wrapped up the call shortly thereafter.
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