WWE reported their Q4 2020 and year-end financial results yesterday and 2020 was indeed the most profitable year in company history.
Revenue for the year overall was $974.2 million, up $13.8 million or 1 percent from 2020’s $960.4 million. WWE’s TV rights deals with FOX and the USA Network continued to have a big impact on the company’s bottom line, although revenue was impacted by the loss of live events and venue merchandise sales and the lack of a second Saudi Arabia show because of the COVID-19 pandemic.
Net income for the year was $131.8 million, a 71 percent increase from 2019’s $77.1 million. It also surpassed 2018’s net income of $99.6 million, which was the previously the company’s most profitable year on record.
In regards to Q4 2020, revenue was down 26 percent from Q4 2019 to $238.2 million. Similar to the year overall, the loss of live events and a second Saudi Arabia show because of the ongoing COVID-19 pandemic impacted revenue greatly. Net income also decreased from Q4 2019 to $13.6 million. The decline was largely down to the lower revenue, but also because of $1 million in after-tax severance payments to fired employees and a $5.8 million after-tax loss from certain equity investments.