On Thursday, the WWE announced its second quarter earnings for the year. Despite record revenues, the company’s Q2 profits missed expectations. According to the WWE earnings call held Thursday morning, revenues grew 32% to a record $199M. Profits are off due in part to spending which included Wrestlemania. The WWE Network hit 1.52M average paid […]
pro wrestling
Gawker files for Chapter 11
Gawker announced that it was filing for Chapter 11 Bankruptcy on Friday as a result of the $140 million jury verdict assessed by a Florida jury in the Hulk Hogan invasion of privacy lawsuit. A Florida judge upheld the verdict by denying a motion for new trial or reducing the monetary judgment by Gawker attorneys […]
Lawsuit over WWE Network royalties promptly dropped by former wrestler
Former WWE wrestler Rene Goguen (fka Rene Dupree) has voluntarily dismissed his lawsuit against World Wrestling Entertainment. The news comes just days after announcing it filed a class action lawsuit against the company for unpaid royalties related to the WWE Network and Netflix. Goguen claimed breach of contract, breach of fiduciary duty, unjust enrichment and […]
WWE Network subscriptions set records for WM 32
The WWE announced a couple records related to Wrestlemania 32 Sunday. On Monday, it announced that the WWE Network reached 1.82 million total network subscribers according to a telephone conference held by the company. WWE Network reached 1.39 million total domestic subscribers and 434,000 international subscribers. The gains over last year at this time (the […]
WWE touts #FreeWrestlemania to attract new viewers to Network
The WWE’s annual biggest event of the year is today as Wrestlemania 32 takes place at AT&T Stadium in Dallas, Texas. This year, the WWE Network is offering a free month including this today’s event. The strategy seems to be contrary to WWE’s goal for profit but at least one analyst believes its a positive calculated risk. Interesting […]