Source: 411 Mania
Linda McMahon tackles some questions!
WWE held a conference call this morning to go over their second quarter financial numbers. Chief Financial Officer Michael Sileck and Chief Executive Officer Linda McMahon headed the conference. Below are some highlights.
– The drop in net income was blamed on the loss of cable advertising revenue, new investments, and the fact that the company got a lot of cash from a big legal settlement last year. They specifically stated that the company is currently in a “transitional period” and are setting themselves up for the future.
– ECW On Sci-Fi’s TV deal runs through December of 2007.
– ECW house shows were dropped because while running shows in smaller venues was a unique experience for fans, it wasn’t helping them build a brand. They plan to have ECW-only shows again down the line when the brand can run in bigger arenas.
– Pushed the growth in the home video division which was up 22% with 1.2 million DVD units sold in the quarter.
– Over one million copies of the See No Evil DVD were shipped to retailers this week.
– WWE live attendance has gone up for seven straight quarters and, not including ECW, averaged 5,200 fans domestically in the quarter.
– When asked about why the brands aren’t run separately and why they are all so identical to each other, Linda McMahon stated that the brands ARE different and that the brand split has allowed them to get in more house shows, build more stars, and give them more licensing opportunities. She also said having three distinct brands creates more of a sense of competition and allows for greater storylines.
– Put over the growth of WWE 24/7.
– UFC and IFL came up with Linda McMahon stating that WWE had a recent meeting with PRIDE and is looking to get into that form of entertainment.
