Stamford-based World Wrestling Entertainment Inc. hit a new revenue peak during the second quarter, totaling $214.6 million in an 8 percent year-over-year increase.
WWE’s $18.1 million in adjusted earnings was more than double the $7.5 million total in the second quarter of 2016.
Fueling the company’s financial performance was the increase in paid subscribers to the WWE Network – more than 16.3 million in the second quarter, up 8 percent year over year. Sponsorship revenue saw a 25 percent year-over-year spike, with new partners including AT&T, KFC and Nestle.
The WWE also expanded into new global markets during the second quarter, with the launch of shows in India and the Middle East. A new agreement with the South African broadcast network SuperSport will prepare for expansion in the African market.
“We are pleased with our ongoing efforts to execute our multiplatform content strategy as evidenced by the year-over-year growth of WWE Network, the increased production of localized programming across platforms and markets and the attraction of new sponsors,” said WWE Chairman and CEO Vince McMahon.