{"id":105239,"date":"2022-02-03T15:09:53","date_gmt":"2022-02-03T21:09:53","guid":{"rendered":"https:\/\/prowrestling.net\/site\/?p=105239"},"modified":"2022-02-03T15:09:53","modified_gmt":"2022-02-03T21:09:53","slug":"wwe-releases-fourth-quarter-and-full-year-2021-financial-report","status":"publish","type":"post","link":"https:\/\/prowrestling.net\/site\/2022\/02\/03\/wwe-releases-fourth-quarter-and-full-year-2021-financial-report\/","title":{"rendered":"WWE releases fourth quarter and full year 2021 financial report"},"content":{"rendered":"<div id=\"prowr-1803915882\" class=\"prowr-apple-podcast-button-link prowr-entity-placement\" style=\"margin-left: auto;margin-right: auto;text-align: center;\"><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/pro-wrestling-boom-podcast\/id1365989370\" aria-label=\"SUBSCRIBE IN APPLE PODCASTS\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/prowrestling.net\/site\/wp-content\/uploads\/advanced_ads\/2019\/07\/Logo2019_ApplePodcasts_320wide.png?fit=320%2C78&#038;ssl=1\" alt=\"SUBSCRIBE IN APPLE PODCASTS\"  srcset=\"https:\/\/i0.wp.com\/prowrestling.net\/site\/wp-content\/uploads\/advanced_ads\/2019\/07\/Logo2019_ApplePodcasts_320wide.png?w=320&ssl=1 320w, https:\/\/i0.wp.com\/prowrestling.net\/site\/wp-content\/uploads\/advanced_ads\/2019\/07\/Logo2019_ApplePodcasts_320wide.png?resize=300%2C73&ssl=1 300w\" sizes=\"(max-width: 320px) 100vw, 320px\" width=\"320\" height=\"78\"   \/><\/a><\/div><p><b>By Jason Powell<\/b>, ProWrestling.net Editor (<a href=\"https:\/\/twitter.com\/prowrestlingnet\" target=\"_blank\" rel=\"noopener noreferrer\">@prowrestlingnet<\/a>)<\/p>\n<p><em>WWE issued the following fourth quarter and full year 2021 earnings report via <a href=\"https:\/\/corporate.wwe.com\/\">Corporate.WWE.com<\/a>.<\/em><\/p>\n<p><b>Fourth Quarter 2021 Highlights<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>Revenue increased 30% to\u00a0$310.3 million<\/li>\n<li>Operating income increased 131% to\u00a0$83.6 million<\/li>\n<li>Adjusted OIBDA<sup>1<\/sup>\u00a0increased 90% to\u00a0$97.2 million<\/li>\n<li>Returned capital to shareholders totaling\u00a0$59.0 million, including share repurchases and dividends paid<\/li>\n<\/ul>\n<p><b>Full Year 2021 Highlights<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>Revenue increased 12% to\u00a0$1.095 billion, the highest in the Company\u2019s history<\/li>\n<li>Operating income increased 24% to\u00a0$259.0 million<\/li>\n<li>Adjusted OIBDA<sup>1<\/sup>\u00a0increased 14% to a record\u00a0$327.1 million<\/li>\n<li>Launched WWE Network content on Peacock, NBCU\u2019s streaming service in the\u00a0U.S., providing a larger audience and increasing viewership for WWE\u2019s premium live shows, original series, and vast library<\/li>\n<li>Announced a new strategy for premium live events, which focuses on staging these events in stadiums rather than arenas, and utilizes targeted dates to maximize WWE\u2019s live audience potential<\/li>\n<li>Completed consumer product deals including partnerships with Blockchain Creative Labs (Fox) to launch an NFT marketplace and with Panini to be the exclusive provider of WWE trading cards<\/li>\n<li>Created the Next in Line program to recruit the next generation of WWE Superstars, which was initiated with 16 collegiate athletes, including Olympic gold medalist Gable Steveson<\/li>\n<li>Returned capital to shareholders totaling\u00a0$202.0 million, including share repurchases and dividends paid<\/li>\n<\/ul>\n<p><b>2022 Business Outlook<sup>2<\/sup><\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>The Company outlines its expectations for 2022, which assume ticketed audiences at the Company\u2019s live events for the full year, and target record revenue and an Adjusted OIBDA range of\u00a0$360\u00a0&#8211;\u00a0$375 million, which would be an all-time record. This range of anticipated performance reflects the continued ramp-up of live events, including large-scale international events, and increased monetization of content, partially offset by increased production, content-related, and other expenses.<\/li>\n<li>Management believes WWE is well positioned to capitalize on significant future opportunities. In 2022, key initiatives that could have meaningful implications for long-term growth include the licensing of WWE Network in international markets, monetization of new original series, the licensing of\u00a0<i>Raw<\/i>\u00a0second window rights, further progress with sponsorship sales, and the continued execution of WWE\u2019s stadium strategy for premium live events.<\/li>\n<\/ul>\n<p><b>(See 2022 Business Outlook discussion on pages 8-9 for additional information)<\/b><\/p>\n<p>STAMFORD, Conn.&#8211;(BUSINESS WIRE)&#8211; WWE (NYSE: WWE) today announced financial results for its fourth quarter and year ended December 31, 2021.<\/p>\n<p>\u201cIn 2021, we reached a significant milestone of over\u00a0$1 billion\u00a0in revenue, for the first time in the Company\u2019s history. We ended the year with strong performance across each of our business lines that reflected the engagement of a wider audience with distribution on new digital platforms, including Peacock, and the return of fans at our live events,\u201d said Vince McMahon, WWE Chairman &amp; CEO. \u201cWe expect the execution of key initiatives in the coming year, such as the licensing of network content in international markets, monetization of new original series, and the continued shift to a stadium strategy for WWE\u2019s premium live events, will further expand the reach of our brands and enhance the value of our content.\u201d<\/p>\n<p>Frank Riddick, WWE Chief Financial and Administrative Officer, added \u201cFor the year, we achieved record revenue and Adjusted OIBDA, which exceeded the high end of our guidance. Adjusted OIBDA increased 14% reflecting higher revenue and profit from the distribution of network programming on Peacock, the contractual escalation of rights fees for our flagship shows,\u00a0<i>Raw\u00a0<\/i>and\u00a0<i>SmackDown<\/i>, and the return of ticketed audiences to our live events. In 2022, we anticipate Adjusted OIBDA of\u00a0$360 million\u00a0to\u00a0$375 million, reflecting the full year performance of our ticketed live events as well as the increased production and monetization of content.\u201d<\/p>\n<p><b><span class=\"bwuline\">Fourth-Quarter Consolidated Results<\/span><\/b><\/p><div id=\"prowr-1655110861\" class=\"prowr-content-4 prowr-entity-placement\"><!-- Tag ID: prowrestling_incontent_2 -->\r\n<div align=\"center\" data-freestar-ad=\"__336x280 __336x280\" id=\"prowrestling_incontent_2\">\r\n  <script data-cfasync=\"false\" type=\"text\/javascript\">\r\n    freestar.config.enabled_slots.push({ placementName: \"prowrestling_incontent_2\", slotId: \"prowrestling_incontent_2\" });\r\n  <\/script>\r\n<\/div><\/div>\n<p><b>Revenue<\/b>\u00a0increased 30% to\u00a0$310.3 million, primarily due to the impact of a large-scale international event as well as higher ticket and venue merchandise sales resulting from the return to ticketed live events, which began in July 2021.<\/p>\n<p><b>Operating Income<\/b>\u00a0increased 131%, or\u00a0$47.4 million, to\u00a0$83.6 million, driven by the impact of the Company\u2019s large-scale international event, and, to a lesser extent, the return to other ticketed live events, which was partially offset by an increase in management incentive compensation costs associated with the Company\u2019s improved operating performance. The Company\u2019s Operating income margin increased to 27% from 15%.<\/p>\n<p><b>Adjusted OIBDA<\/b>\u00a0(which excludes stock compensation) increased 90%, or\u00a0$46.0 million, to\u00a0$97.2 million. The Company\u2019s Adjusted OIBDA margin increased to 31% from 21%.<\/p>\n<p><b>Net Income<\/b>\u00a0was\u00a0$63.9 million, or\u00a0$0.76\u00a0per diluted share, an increase from\u00a0$13.6 million, or\u00a0$0.16\u00a0per diluted share, primarily reflecting higher operating performance. The results for the fourth quarter of 2021 also reflected an after-tax gain of\u00a0$5.2 million\u00a0from the reduction of leased space as part of an amendment to the Company\u2019s new\u00a0Stamford\u00a0headquarters lease. The results for the fourth quarter of 2020 reflected an after-tax loss of\u00a0$5.8 million\u00a0related to certain equity investments and\u00a0$1.0 million\u00a0in after-tax severance expense resulting from a reduction in force due to COVID-19. Excluding these items, Adjusted Net Income<sup>3<\/sup>\u00a0was\u00a0$58.7 million, or\u00a0$0.70\u00a0per diluted share, as compared to\u00a0$20.4 million, or\u00a0$0.24\u00a0per diluted share.<\/p>\n<p><b>Cash flows generated by operating activities<\/b>\u00a0were\u00a0$42.3 million, a decrease from\u00a0$62.4 million, as higher net income was more than offset by a decrease in non-cash adjustments, as well as the timing of collections associated with large-scale international events.<\/p>\n<p><b>Free Cash Flow<\/b>\u00a0was\u00a0$27.5 million, a decrease from\u00a0$56.2 million, primarily due to the change in operating cash flow and, to a lesser extent, an increase in capital expenditures.<sup>4<\/sup><\/p>\n<p><b><span class=\"bwuline\">Return of Capital to Shareholders<\/span><\/b><\/p>\n<p>The Company returned\u00a0$59.0 million\u00a0to shareholders in the fourth quarter of 2021, including\u00a0$50.0 million\u00a0in\u00a0<b>share repurchases<\/b>\u00a0and\u00a0$9.0 million\u00a0in\u00a0<b>dividends paid<\/b>. Under the Company\u2019s existing stock repurchase program, approximately 1.0 million shares were repurchased at an average price of\u00a0$50.73\u00a0per share.<\/p>\n<p><b><span class=\"bwuline\">Full Year 2021 Consolidated Results<\/span><\/b><\/p>\n<p><b>Revenue<\/b>\u00a0increased 12%, or\u00a0$121.0 million, to nearly\u00a0$1.1 billion, driven by higher ticket and venue merchandise sales that resulted from the Company\u2019s return to ticketed live events for a portion of the year, including\u00a0<i>WrestleMania<\/i>\u00a0and\u00a0<i>SummerSlam<\/i>. The growth in revenue also reflected the contractual escalation of core content rights fees associated with the distribution of the Company\u2019s flagship programs,\u00a0<i>Raw\u00a0<\/i>and\u00a0<i>SmackDown<\/i>, and an increase in network revenue, which stemmed primarily from the upfront revenue recognition related to the delivery of certain WWE Network intellectual property rights to Peacock in the first quarter.<\/p><div id=\"prowr-993099498\" class=\"prowr-content-5 prowr-entity-placement\"><!-- Tag ID: prowrestling_incontent_3 -->\r\n<div align=\"center\" data-freestar-ad=\"__336x280 __336x280\" id=\"prowrestling_incontent_3\">\r\n  <script data-cfasync=\"false\" type=\"text\/javascript\">\r\n    freestar.config.enabled_slots.push({ placementName: \"prowrestling_incontent_3\", slotId: \"prowrestling_incontent_3\" });\r\n  <\/script>\r\n<\/div><\/div>\n<p><b>Operating Income<\/b>\u00a0increased 24%, or\u00a0$50.4 million, to\u00a0$259.0 million, as the growth in revenue was partially offset by higher television and event-related production expense related to the Company\u2019s weekly, in-ring content, as well as\u00a0<i>WrestleMania\u00a0<\/i>and\u00a0<i>SummerSlam<\/i>. Prior to the resumption of live event touring in July 2021, the Company produced its weekly, televised programs utilizing the higher cost environment of\u00a0<i>WWE ThunderDome<\/i>\u00a0at Tropicana Field and Yuengling Center in\u00a0Tampa, Florida. During the prior year, WWE produced a significant portion of weekly, televised content from its lower production cost performance center in\u00a0Orlando. Operating income was also impacted by higher staff related costs, including severance and management incentive compensation, the latter resulting from improved operating performance in the current year. The Company\u2019s Operating income margin increased to 24% from 21%.<\/p>\n<p><b>Adjusted OIBDA<\/b>\u00a0(which excludes stock compensation) increased 14%, or\u00a0$40.9 million, to\u00a0$327.1 million. The increase in Adjusted OIBDA is less than the increase in Operating Income because the latter benefited from lower stock compensation expense in the current year. The Company\u2019s Adjusted OIBDA margin increased to 30% from 29%.<\/p>\n<p><b>Net Income<\/b>\u00a0increased to\u00a0$180.4 million, or\u00a0$2.12\u00a0per diluted share, from\u00a0$131.8 million, or\u00a0$1.56\u00a0per diluted share, primarily due to stronger operating performance. The results for 2021 also reflected\u00a0$6.3 million\u00a0in after-tax severance expense associated with the combination of WWE\u2019s television, digital and studios teams into one organization, partially offset by an after-tax gain of\u00a0$5.2 million\u00a0from the reduction of leased space as part of an amendment to the Company\u2019s new\u00a0Stamford\u00a0headquarters lease. The results for 2020 reflected\u00a0$5.4 million\u00a0in after-tax severance expense and an after-tax net loss of\u00a0$4.4 million\u00a0related to certain investment securities. Excluding these items, Adjusted Net Income<sup>3<\/sup>\u00a0was\u00a0$181.5 million, or\u00a0$2.14\u00a0per diluted share, as compared to\u00a0$141.6 million, or\u00a0$1.68\u00a0per diluted share.<\/p>\n<p><b>Cash flows generated by operating activities<\/b>\u00a0were\u00a0$178.6 million, a decrease from\u00a0$319.9 million, as higher net income was more than offset by a decrease in non-cash adjustments, as well as the timing of collections associated with the Company\u2019s large-scale international events and WWE Network revenues.<\/p>\n<p><b>Free Cash Flow<\/b>\u00a0was\u00a0$139.4 million, a decrease from\u00a0$292.3 million, primarily driven by the decrease in operating cash flow and, to a lesser extent, an increase in capital expenditures.<sup>4<\/sup><\/p>\n<p><b>Cash, cash equivalents and short-term investments<\/b>\u00a0were\u00a0$416 million\u00a0as of December 31, 2021. The Company currently estimates\u00a0<b>debt capacity<\/b>\u00a0under its revolving line of credit of\u00a0$200 million.<\/p>\n<p><b><span class=\"bwuline\">Return of Capital to Shareholders<\/span><\/b><\/p>\n<p>The Company returned\u00a0$202.0 million\u00a0to shareholders in 2021, including\u00a0$165.6 million\u00a0in\u00a0<b>share repurchases<\/b>\u00a0and\u00a0$36.4 million\u00a0in\u00a0<b>dividends paid<\/b>. Under the Company\u2019s existing stock repurchase program, 4.6 million shares have been repurchased to-date at an average price of\u00a0$53.57\u00a0per share, resulting in approximately\u00a0$251 million\u00a0remaining available for repurchase pursuant to the Company\u2019s\u00a0$500 million\u00a0authorization. WWE intends to continue opportunistic repurchases under the program.<\/p>\n<p><b><span class=\"bwuline\">Basis of Presentation<\/span><\/b><\/p>\n<p>For the fourth quarter of 2021, the Company\u2019s consolidated pre-tax results included the impact of a\u00a0$6.7 million\u00a0gain from the reduction of leased space as part of an amendment to its new\u00a0Stamford\u00a0headquarters lease. For the twelve-month period ended December 31, 2021, the Company\u2019s consolidated pre-tax results included\u00a0$8.1 million\u00a0in severance expense associated with the combination of WWE\u2019s television, digital and studios teams into one organization. A reconciliation of Net Income to Adjusted Net Income for the three and twelve-month periods ended December 31, 2021 and 2020 can be found in the supplemental schedule on page 16 of this release.<\/p>\n<p>The schedule below reflects WWE\u2019s performance by operating segment (in million):<sup>1<\/sup><\/p>\n<div class=\"scroll-table-container\">\n<table class=\"bwtablemarginb bwblockalignl bwwidth100\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Three Months Ended<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Year Ended<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>December 31,<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth30 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2020<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2020<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net Revenue:<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwwidth30 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Media<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">257.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">210.5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">936.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">868.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth30 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Live Events<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">20.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">0.7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">57.8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">19.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwwidth30 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Consumer Products<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">32.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">27.0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">101.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">86.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth30 bwpadl4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total Net Revenue<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">310.3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">238.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">1,095.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">974.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Operating Income (Loss):<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwwidth30 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Media<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">106.3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">67.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">363.4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">332.5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth30 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Live Events<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">1.4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">(7.0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">6.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">(19.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwwidth30 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Consumer Products<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">12.5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">8.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">33.8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">24.8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth30 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Corporate<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwwidth8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">(36.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">(32.8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">(145.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">(129.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwwidth30 bwpadl4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total Operating Income<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">83.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">36.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">259.0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">208.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth30\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Adjusted OIBDA:<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth30 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Media<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">112.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">73.0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">390.5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">367.8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwwidth30 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Live Events<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">1.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">(6.7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">7.7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">(17.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth30 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Consumer Products<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">12.9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">9.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">35.5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">26.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwwidth30 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Corporate<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">(29.4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">(24.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">(106.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">(90.6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth30 bwpadl4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total Adjusted OIBDA<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">97.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">51.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">327.1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">286.2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><b><span class=\"bwuline\">Results by Operating Segment<\/span><\/b><\/p>\n<p><i><span class=\"bwuline\">Media<\/span><\/i><\/p>\n<p><b>Fourth-Quarter 2021<\/b><\/p>\n<p><b>Revenue<\/b>\u00a0increased 22%, or\u00a0$47.1 million, to\u00a0$257.6 million, primarily due to the impact of a large-scale international event and, to a lesser extent, the contractual escalation of domestic core content rights fees for the Company\u2019s flagship programs,\u00a0<i>Raw\u00a0<\/i>and\u00a0<i>SmackDown<\/i>. These factors were partially offset by a decrease in network revenue, driven by the timing of revenue recognized with the delivery of WWE Network content to Peacock in the current year quarter as compared to subscription revenue in the prior year quarter.<\/p>\n<div class=\"scroll-table-container\">\n<table class=\"bwwidth100 bwtablemarginb bwblockalignl\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Three Months Ended<\/b><\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Year Ended<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>December 31,<\/b><\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2020<\/b><\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2020<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Media Revenue:<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwrowaltcolor0 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Network (including pay-per-view)\u00a0<sup>(a)<\/sup><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">31.4<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">45.0<\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">215.4<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">185.7<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Core content rights fees\u00a0<sup>(b)<\/sup><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">153.0<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">139.8<\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">575.8<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">538.3<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwrowaltcolor0 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Advertising and sponsorship\u00a0<sup>(c)<\/sup><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">21.1<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">16.5<\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">71.5<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">65.3<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Other\u00a0<sup>(d)<\/sup><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwsinglebottom bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">52.1<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwsinglebottom bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">9.2<\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwsinglebottom bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">73.5<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwsinglebottom bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">78.9<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwrowaltcolor0 bwpadl4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total Revenue<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">257.6<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">210.5<\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">936.2<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">868.2<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>(a) Network revenue consists primarily of license fees associated with the distribution of WWE Network content on the Peacock service in the\u00a0U.S.\u00a0(effective March 18, 2021), as well as subscription fees from customers of WWE Network and license fees associated with the Company\u2019s international licensed partner agreements. Network revenue for the twelve-month period ended December 31, 2021, includes the upfront revenue recognition related to the delivery of certain WWE Network intellectual property rights to Peacock in the first quarter.<\/p>\n<p>(b) Core content rights fees consist primarily of licensing revenue from the distribution of the Company\u2019s flagship programs,\u00a0<i>Raw<\/i>\u00a0and\u00a0<i>SmackDown<\/i>, as well as its NXT programming, through global broadcast, pay television and digital platforms.<\/p>\n<p>(c) Advertising and sponsorship revenue within the Media segment consists primarily of advertising revenue from the Company\u2019s content on third-party social media platforms and sponsorship fees from sponsors who promote products utilizing the Company\u2019s media platforms, including promotion on the Company\u2019s digital websites and on-air promotional media spots.<\/p>\n<p>(d) Other revenue within the Media segment reflects revenue from the distribution of other WWE content, including, but not limited to, certain live in-ring programming content in international markets, scripted, reality and other programming, as well as theatrical and direct-to-home video releases<\/p>\n<p><b>Operating income<\/b>\u00a0increased 58%, or\u00a0$39.2 million, to\u00a0$106.3 million, driven by the impact of the Company\u2019s large-scale international event, and, to a lesser extent, the contractual escalation of rights fees from the distribution of\u00a0<i>Raw<\/i>\u00a0and\u00a0<i>SmackDown<\/i>. These growth drivers were partially offset by a decrease in Network revenue and an increase in management incentive compensation costs associated with the Company\u2019s improved operating performance.<\/p>\n<p><b>Adjusted OIBDA<\/b>\u00a0increased 54%, or\u00a0$39.1 million, to\u00a0$112.1 million.<\/p>\n<p><b>Full Year 2021<\/b><\/p>\n<p><b>Revenue<\/b>\u00a0increased 8%, or\u00a0$68.0 million, to\u00a0$936.2 million, reflecting the growth of domestic core content rights fees for the Company\u2019s flagship programs\u00a0<i>Raw\u00a0<\/i>and\u00a0<i>SmackDown<\/i>, as well as an increase in network revenue, which benefited from the upfront revenue recognition related to the delivery of certain WWE Network intellectual property rights to Peacock in the first quarter.<\/p>\n<p><b>Operating income<\/b>\u00a0increased 9%, or\u00a0$30.9 million, to\u00a0$363.4 million, primarily due to the increase in revenue (as described above) and, to a lesser extent, lower network related expenses driven by the transition of WWE Network to NBCU\u2019s Peacock service. These sources of growth were partially offset by an increase in television production expense associated with the return to live event touring and the production of content from\u00a0<i>WWE ThunderDome<\/i>\u00a0as compared to the prior year which benefited from production in the Company\u2019s lower cost performance center in\u00a0Orlando\u00a0for a significant portion of the year. Operating income was also impacted by higher management incentive compensation resulting from improved operating performance in the current year.<\/p>\n<p><b>Adjusted OIBDA<\/b>\u00a0increased 6%, or\u00a0$22.7 million, to\u00a0$390.5 million.<\/p>\n<p><i><span class=\"bwuline\">Live Events<\/span><\/i><\/p>\n<p><b>Fourth-Quarter 2021<\/b><\/p>\n<p><b>Revenue<\/b>\u00a0was\u00a0$20.1 million, an increase of\u00a0$19.4 million, driven by an increase in ticket sales as the Company returned to staging ticketed live events. There were 57 total ticketed live events in the current quarter, consisting of 48 events in\u00a0North America\u00a0and 9 events in international markets. Average attendance at the Company\u2019s\u00a0North America\u00a0events was nearly 5,200.<\/p>\n<div class=\"scroll-table-container\">\n<table class=\"bwwidth100 bwtablemarginb bwblockalignl\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth28 bwvertalignb bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Three Months Ended<\/b><\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth28 bwvertalignb bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Year Ended<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth28 bwvertalignb bwsinglebottom bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>December 31,<\/b><\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth28 bwvertalignb bwsinglebottom bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwwidth13 bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwwidth13 bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2020<\/b><\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwwidth13 bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwwidth13 bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2020<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Live Events Revenue:<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwrowaltcolor0 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">North American ticket sales<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">15.8<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\u2014<\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">46.3<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">15.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">International ticket sales<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">2.2<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\u2014<\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">4.6<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">0.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwrowaltcolor0 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Advertising and sponsorship\u00a0<sup>(e)<\/sup><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">0.2<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\u2014<\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">0.9<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">0.4<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Other\u00a0<sup>(f)<\/sup><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwsinglebottom bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">1.9<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwsinglebottom bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">0.7<\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwsinglebottom bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">6.0<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwsinglebottom bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">4.1<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwrowaltcolor0 bwpadl4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total Revenue<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">20.1<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">0.7<\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">57.8<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwdoublebottom bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">19.9<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>(e) Advertising and sponsorship revenue consists primarily of fees from advertisers and sponsors that promote products utilizing the Company\u2019s live events (i.e., presenting sponsor of fan engagement events and advertising signage at events).<\/p>\n<p>(f) Other Live Events includes revenue from the sale of travel packages associated with the Company\u2019s global live events, commissions earned through secondary ticketing, and revenue from events for which the Company receives a fixed fee<\/p>\n<p><b>Operating income\u00a0<\/b>increased to\u00a0$1.4 million\u00a0as compared to an operating loss of\u00a0$7.0 million, as the increase in ticket sales (as described above) was partially offset by an increase in event-related expenses.<\/p>\n<p><b>Adjusted OIBDA<\/b>\u00a0increased to\u00a0$1.6 million\u00a0as compared to a loss of\u00a0$6.7 million.<\/p>\n<p><b>Full Year 2021<\/b><\/p>\n<p><b>Revenue<\/b>\u00a0increased to\u00a0$57.8 million\u00a0as compared to\u00a0$19.9 million, with growth driven by an increase in ticket sales as the Company returned to staging ticketed live events, including\u00a0<i>WrestleMania\u00a0<\/i>and\u00a0<i>SummerSlam<\/i>. There were 101 total ticketed live events in 2021, consisting of 88 events in\u00a0North America\u00a0and 13 events in international markets, as compared to 42 events in the prior year (held entirely in the first quarter). With the return to live event touring, average attendance increased 5% to approximately 6,600 and average ticket prices increased by 43% to approximately\u00a0$76.<\/p>\n<p><b>Operating income\u00a0<\/b>was\u00a0$6.9 million\u00a0as compared to a loss of\u00a0$19.1 million, as the increase in ticket sales (as described above) was partially offset by an increase in event-related expenses.<\/p>\n<p><b>Adjusted OIBDA<\/b>\u00a0was\u00a0$7.7 million\u00a0as compared to a loss of\u00a0$17.6 million.<\/p>\n<p><i><span class=\"bwuline\">Consumer Products<\/span><\/i><\/p>\n<p><b>Fourth-Quarter 2021<\/b><\/p>\n<p><b>Revenue<\/b>\u00a0increased 21%, or\u00a0$5.6 million, to\u00a0$32.6 million\u00a0with growth attributable to the Company\u2019s franchise video game and higher sales of merchandise at the Company\u2019s live event venues driven by the return to ticketed live events. These factors were partially offset by a decrease in eCommerce merchandise sales due, in part, to a tough comparison to elevated Covid-related sales in the prior year quarter.<\/p>\n<div class=\"scroll-table-container\">\n<table class=\"bwwidth100 bwtablemarginb bwblockalignl\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth28 bwvertalignb bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Three Months Ended<\/b><\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth28 bwvertalignb bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Year Ended<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth28 bwvertalignb bwsinglebottom bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>December 31,<\/b><\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth28 bwvertalignb bwsinglebottom bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwwidth13 bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwwidth13 bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2020<\/b><\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwwidth13 bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<\/td>\n<td class=\"bwwidth13 bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2020<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Consumer Products Revenue:<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwrowaltcolor0 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Consumer product licensing<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">18.1<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">13.5<\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">52.0<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">41.7<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">eCommerce<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">11.0<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">13.5<\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">39.1<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">41.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwrowaltcolor0 bwpadl2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">Venue merchandise<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">3.5<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\u2014<\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">10.1<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">3.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth31 bwvertalignb bwpadl4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total Revenue<\/b><\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwdoublebottom bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwdoublebottom bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">32.6<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwdoublebottom bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwdoublebottom bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">27.0<\/p>\n<\/td>\n<td class=\"bwwidth8 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwdoublebottom bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwdoublebottom bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">101.2<\/p>\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<\/td>\n<td class=\"bwwidth2 bwvertalignb bwdoublebottom bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">$<\/p>\n<\/td>\n<td class=\"bwwidth11 bwvertalignb bwdoublebottom bwpadl0 bwpadr0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">86.1<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><b>Operating income\u00a0<\/b>increased 40%, or\u00a0$3.6 million, to\u00a0$12.5 million\u00a0reflecting the increase in revenue (as described above).<\/p>\n<p><b>Adjusted OIBDA\u00a0<\/b>increased 42%, or\u00a0$3.8 million, to\u00a0$12.9 million.<\/p>\n<p><b>Full Year 2021<\/b><\/p>\n<p><b>Revenue<\/b>\u00a0grew 18%, or\u00a0$15.1 million, to\u00a0$101.2 million, with growth attributable to the Company\u2019s licensed video games and toys, and, to a lesser extent, higher sales of merchandise at the Company\u2019s live event venues driven by the return to ticketed live events, including\u00a0<i>WrestleMania\u00a0<\/i>and\u00a0<i>SummerSlam<\/i>.<\/p>\n<p><b>Operating income\u00a0<\/b>increased 36%, or\u00a0$9.0 million, to\u00a0$33.8 million, reflecting the growth in revenue (as described above).<\/p>\n<p><b>Adjusted OIBDA\u00a0<\/b>increased 33%, or\u00a0$8.9 million, to\u00a0$35.5 million.<\/p>\n<p><b><span class=\"bwuline\">2022 Business Outlook<sup>2<\/sup><\/span><\/b><\/p>\n<p>In 2022, the Company targets another year of record revenue, with growth driven by the full year impact of ticketed live events (WWE initiated the return of ticketed audiences in July 2021), staging of additional large-scale international events, escalation of rights fees for the Company\u2019s flagship programs, and monetization of new, original series.<\/p>\n<p>Additionally, the Company anticipates a significant increase in its expense base associated with a higher level of activity in the coming year. As these expenses support the full year return of live event touring, expanded global production, and development of new content, they contribute to higher revenue and profit in the near-term, and strengthen WWE fan engagement, benefiting the value of WWE content and the Company\u2019s long-term growth potential. Accordingly, management has targeted an Adjusted OIBDA range of\u00a0$360 million\u00a0&#8211;\u00a0$375 million, an all-time record (up 10% &#8211; 15% from 2021 Adjusted OIBDA of\u00a0$327.1 million), as revenue growth is partially offset by the increase in production, content-related and other expenses.<\/p>\n<p>In 2022, key initiatives that have meaningful implications for WWE\u2019s long-term growth include the licensing of WWE Network in international markets, monetization of new original series, the licensing of\u00a0<i>Raw<\/i>\u00a0second window rights, further progress with sponsorship sales, and the continued execution of WWE\u2019s stadium strategy for premium live events.<\/p>\n<p>Providing perspective on WWE\u2019s targeted revenue and Adjusted OIBDA growth, Mr. Riddick commented, \u201cWe continue to believe that WWE has significant long-term growth opportunities and is well positioned, particularly given our substantial cash and liquidity, to deliver on its strategic initiatives. In 2022, we will continue to evaluate our financial performance, balancing Adjusted OIBDA growth with increased expenses that could enable us to deliver a wider range of content, strengthen our engagement with a broadening audience, and drive long-term shareholder value.\u201d<\/p>\n<p>The Company previously discussed projected capital expenditures to support its workplace strategy. For 2021, the Company had total capital expenditures of\u00a0$39 million, which included approximately\u00a0$17 million\u00a0to build out its new headquarter facility, with the remainder focused on strengthening its production and enterprise technology infrastructure. For 2022, the Company estimates total capital expenditures of\u00a0$280 million\u00a0&#8211;\u00a0$310 million, including construction spending of approximately\u00a0$235 million\u00a0&#8211;\u00a0$255 million. The Company estimates that total capital expenditures related to the new headquarters facility through 2023 will be approximately\u00a0$270 million\u00a0&#8211;\u00a0$300 million. The Company expects the total project spend will be partially offset by tenant improvement allowances, tax credits and proceeds from the sale of other real estate assets. The total net cost of the Company\u2019s new headquarters through completion, i.e., net of these items, is estimated within a range of\u00a0$160 million\u00a0&#8211;\u00a0$180 million. The Company expects total capital expenditures will return to approximately 4% &#8211; 5% of revenue once construction of the Company\u2019s new headquarters has been completed. These expenditures would be at the low end of the historic range of approximately 4% to 7% of revenue and are predominantly to maintain and enhance existing infrastructure.<\/p>\n<p><b><span class=\"bwuline\">First Quarter 2022 Business Outlook<sup>2<\/sup><\/span><\/b><\/p>\n<p>The Company estimates first quarter 2022 Adjusted OIBDA of\u00a0$90 million\u00a0&#8211;\u00a0$100 million, which represents an increase of approximately 7% &#8211; 19% from the prior year quarter. The estimate reflects substantial revenue growth from the staging of a large-scale international event (which did not occur in the prior year quarter) and the impact of WWE\u2019s return to live event touring (which was initiated in July 2021). The Company also anticipates that the first quarter growth will be partially offset by the absence of the one-time revenue recognition associated with Peacock as well as an increase in operating expenses including higher production and related costs, and other activity-based expenses.<\/p>\n<p>WWE is unable to provide a reconciliation of full year or first quarter guidance to GAAP measures as, at this time, WWE cannot accurately determine all of the adjustments that would be required.<\/p>\n<p><b><span class=\"bwuline\">Notes<\/span><\/b><\/p>\n<p>(1)\u00a0The definition of Adjusted OIBDA can be found in the Non-GAAP Measures section of the release on page 10. A reconciliation of three and twelve-month periods ended December 31, 2021 and 2020 Operating Income to Adjusted OIBDA can be found in the Supplemental Information in this release on page 17.<\/p>\n<p>(2) The Company\u2019s business model and expected results will continue to be subject to significant execution and other risks, including risks relating to the impact of COVID-19 on WWE\u2019s business, results of operations and financial condition; entering, maintaining and renewing major distribution agreements;\u00a0<i>WWE Network<\/i>; uncertainties associated with international markets and risks inherent in large live events, and other risk factors disclosed in our annual report on Form 10-K for the year ended December 31, 2021. In addition, WWE is unable to provide a reconciliation of first quarter or full year 2022 guidance to GAAP measures as, at this time, WWE cannot accurately determine all of the adjustments that would be required. See Supplemental Information in this release on page 18.<\/p>\n<p>(3)\u00a0A reconciliation of three and twelve-month periods ended December 31, 2021 and 2020 Net Income to Adjusted Net Income can be found in the Supplemental Information in this release on page 16.<\/p>\n<p>(4) A reconciliation of three and twelve-month periods ended December 31, 2021 and 2020 Free Cash Flow to Net cash provided by operating activities can be found in the Supplemental Information in this release on page 19.<\/p>\n<p><b><span class=\"bwuline\">Non-GAAP Measures<\/span><\/b><\/p>\n<p>The Company defines\u00a0<b>Adjusted OIBDA<\/b>\u00a0as operating income excluding depreciation and amortization, stock-based compensation expense, certain impairment charges and other non-recurring material items that otherwise would impact the comparability of results between periods. Adjusted OIBDA includes amortization and depreciation expenses directly related to supporting the operations of our segments, including content production asset amortization, depreciation and amortization of costs related to content delivery and technology assets utilized for the\u00a0<i>WWE Network<\/i>, as well as amortization of right-of-use assets related to finance leases of equipment used to produce and broadcast our live events. The Company believes the presentation of Adjusted OIBDA is relevant and useful for investors because it allows them to view the Company\u2019s segment performance in the same manner as the primary method used by management to evaluate segment performance and to make decisions regarding the allocation of resources. Additionally, the Company believes that Adjusted OIBDA is a primary measure used by media investors, analysts and peers for comparative purposes.<\/p>\n<p><b>Adjusted OIBDA<\/b>\u00a0is a non-GAAP financial measure and may be different from similarly titled non-GAAP financial measures used by other companies. WWE views operating income as the most directly comparable GAAP measure. Adjusted OIBDA (and other non-GAAP measures such as\u00a0<b>Adjusted Operating Income<\/b>,\u00a0<b>Adjusted Net Income<\/b>\u00a0and\u00a0<b>Adjusted EPS<\/b>\u00a0which are defined as the GAAP measures excluding certain nonrecurring, material items that impact the comparability between periods) should not be considered in isolation from, or as a substitute for, operating income, net income, EPS or other GAAP measures, such as operating cash flow, as an indicator of operating performance or liquidity.<\/p>\n<p>The Company defines\u00a0<b>Free Cash Flow<\/b>\u00a0as net cash provided by operating activities less cash used for capital expenditures. WWE views net cash provided by operating activities as the most directly comparable GAAP measure. Although it is not a recognized measure of liquidity under\u00a0U.S.\u00a0GAAP, Free Cash Flow provides useful information regarding the amount of cash WWE\u2019s continuing business generates after capital expenditures and is available for reinvesting in the business, debt service, share repurchases and payment of dividends.<\/p>\n<p><b><span class=\"bwuline\">Additional Information<\/span><\/b><\/p>\n<p>Additional business metrics are made available to investors on the corporate website &#8211;\u00a0<span class=\"bwuline\"><a href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fcorporate.wwe.com%2Finvestors&amp;esheet=52574009&amp;newsitemid=20220203005891&amp;lan=en-US&amp;anchor=corporate.wwe.com%2Finvestors&amp;index=1&amp;md5=4347909e5f0a582fa7922c0e8ef98928\" rel=\"nofollow\" shape=\"rect\">corporate.wwe.com\/investors<\/a><\/span>. Note: As previously announced WWE will host a conference call at 5:00 p.m. ET on February 3, 2022, to discuss the Company&#8217;s earnings results for the fourth quarter and full year ended 2021. All interested parties are welcome to listen to a live web cast that will be hosted through the Company\u2019s website at\u00a0<span class=\"bwuline\"><a href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fcorporate.wwe.com%2Finvestors&amp;esheet=52574009&amp;newsitemid=20220203005891&amp;lan=en-US&amp;anchor=corporate.wwe.com%2Finvestors&amp;index=2&amp;md5=0fd7de22814c0022f054f12fe32f7676\" rel=\"nofollow\" shape=\"rect\">corporate.wwe.com\/investors<\/a><\/span>. Participants can access the conference call by dialing 1-855-200-4993 (toll free) or 1-323-794-2092 from outside the\u00a0U.S.\u00a0(conference ID for both lines: 8269242). Please reserve a line 5-10 minutes prior to the start time of the conference call.<\/p>\n<p>The earnings presentation referenced during the call will be made available on February 3, 2022, at\u00a0<span class=\"bwuline\"><a href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fcorporate.wwe.com%2Finvestors&amp;esheet=52574009&amp;newsitemid=20220203005891&amp;lan=en-US&amp;anchor=corporate.wwe.com%2Finvestors&amp;index=3&amp;md5=46fa799c41520ccd48a3e9a9315c7b5c\" rel=\"nofollow\" shape=\"rect\">corporate.wwe.com\/investors<\/a><\/span>. A replay of the call will be available approximately two hours after the conference call concludes and can be accessed on the Company\u2019s website.<\/p>\n<p><span style=\"text-decoration: underline;\"><strong>Powell&#8217;s POV:<\/strong><\/span> Vince McMahon and other members are WWE management are scheduled to host a conference call regarding the financial report. Check back for my live notes on the call at 4CT\/5ET.<\/p>\n<div id=\"prowr-2326172267\" class=\"prowr-after-content prowr-entity-placement\"><a class=\"spreaker-player\" href=\"https:\/\/www.spreaker.com\/show\/pwboom\" data-resource=\"show_id=3275525\" data-theme=\"light\" data-playlist=\"show\" data-width=\"100%\" data-height=\"340px\">Listen to \"Pro Wrestling Boom Podcast\" on Spreaker.<\/a><script async src=\"https:\/\/widget.spreaker.com\/widgets.js\"><\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>By Jason Powell, ProWrestling.net Editor&#8230;<\/p>\n","protected":false},"author":5,"featured_media":57,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,4],"tags":[3600,56,101],"class_list":["post-105239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsticker","category-wwe_news","tag-nick-khan","tag-vince-mcmahon","tag-wwe"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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