By Jason Powell, ProWrestling.net Editor (@prowrestlingnet)
WWE executives hosted a conference call pertaining to the second quarter financial report that was released on August 2, 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 Chief Content Officer 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.
-Nick Khan delivered the opening remarks. He said they remain excited about the formation of TKO and expects the deal to close in the second-half of the year.
-Khan said they are in discussions regarding their media rights for their television shows in the United States. He said there is significant interest and said the talks are progressing well. Khan touted the increases in television viewership for Smackdown and Raw. Khan said the shows have higher engagement with people watching longer than ever before.
-Khan said Vince McMahon has taken a medical leave of absence due to his recent “major spinal surgery.”
-The increases in live events was touted by Khan, who said they are not seeing any signs of things slowing down. He said fans are order tickets for events earlier than they’ve ever seen.
-Khan turned things over to Riddick, who read through the financial presentation highlights. They opened the lines for calls (I’ll list the notables below).
-The first caller questioned why the television rights negotiations seemed to be moving slower than last time. Khan said the starting prices were far less than they are now. He said the talks are deeper and they remain highly optimistic.
-The caller asked about OTT. Khan spoke about how the Peacock deal allowed them to explore the digital space. He said subs matter to the providers. He feels it’s a very strong landscape. Khan spoke about the NFL’s recent deal and how there’s no longer a split. He said they expect the same thing.
-A caller asked if the WWE television deals are unlikely to be done until the NBA’s television deals are done. Khan said his view hasn’t change in that he doesn’t feel that is the case.
-Khan was asked about a disclosure that revealed that federal law enforcement agents executed a search warrant on July 17 and served a federal grand jury subpoena on Vince McMahon. Khan said no charges have been filed and declined to say more.
-Khan was asked about the possibility of a one-year extension of their linear rights so they could be tied in with the next streaming deal. Khan said he doesn’t see a one-year extension being the outcome. He said their content drives subscriptions, not just viewership.
-The final caller asked about WWE’s deal with Twitch. Khan said the deal will pay the talent more than they would make if they were simply doing it on their own. Khan also spoke about their success on YouTube. He said that unlike other sports and entertainment, users watch their classic content in addition to their current content. They wrapped up the call.
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