8 Things We Learned From WWE Q1 Earnings Call, Full Conference Call Audio

WWE hosted their first quarter earnings call Thursday, and spoke on a number of hot topics pertaining to the business, as well as answered questions regarding the current state of the product amid the health crisis. The call was hosted by WWE Interim CFO Frank Riddick and CEO Vince McMahon. WWE released their Q1 earnings report earlier in the day , detailing the the state of the business, including all financials and key performance indicators. The main topic throughout the call was the current state of WWE's business during the uncertainty in the world. Topics touched upon during the teleconference include, when they plan to once again have live events, current state of the deals with networks, as well as contingency plans if the company can no longer film in Florida. Check out the full audio, and the 8 biggest things we learned from the conference call beginning on the next page. https://www.youtube.com/watch?v=skNlCSDJhz0 More Cinematic Content Coming In The Future WWE felt that in a challenging environment they needed to think outside the box, and make content that was more visually appealing. The company has produced three matches as of late with more cinematic elements, including the Firefly Funhouse and Boneyard matches at Wrestlemania 35, as well as the Gargono vs. Ciampa match during NXT television. Vince McMahon wants to take advantage of their ability to create special content, and mentioned they have future plans to feature more cinematic content, which he called "mini movies". Will There Be Another WWE Event In Saudi Arabia In 2020? WWE held one event in the Kingdom of Saudi Arabia this past February, prior to the global pandemic. McMahon mentioned that the Kingdom of Saudi Arabia would want to do a show later in the year, but they are unsure if they can due to the current health crisis. https://twitter.com/HeelByNatureYT/status/1253438147930791942?s=20 If the company cannot do the show, they will be able to add the show to the end of their deal, and still get the same revenue. WWE is also still working on an updated television deal in the Middle East, but things are moving slowly, despite hoping it would be completed by now. Which Planned Investments Are On Hold Due To Current Health Crisis? During WWE's business update last week the company announced plans to halt current construction of WWE's new global headquarters in Stamford, CT. It was mentioned during the call, the company plans on focusing on strengthening their business during the pandemic, and reducing costs. What Backup Plan Do They Have If They Can No Longer Tape Programming In Florida? WWE's current programming continues to tape at the Performance Center in Orlando, FL. Vince McMahon states he will continue to tape there as long as they can, but does have a contingency plan if that changes. https://twitter.com/HeelByNatureYT/status/1253437508714500106?s=20 McMahon mentioned they have backup plans in place, and a number of other States would welcome WWE to produce content if the State Of Florida makes changes to their essential business classification. Changes To WWE Live Events In Future, When Next Time Audience Will Be Present? When asked how the current health crisis could affect WWE in the longterm, Vince McMahon noted that the live event business may see changes. He revealed that he's unsure if WWE will be in the live event business the same way as they were in the past. https://twitter.com/HeelByNatureYT/status/1253441148972130306?s=20 WWE currently has holds on a number arenas for future events, but has no idea if they will be able to host a live audience in the immediate future. He noted they are a highly abatable business, and will be ready when the time is right. In the mean time WWE will be more content and digital media oriented company. How FOX and USA Network Feel About Current Mixture Of Live and Taped Programming While WWE has agreements in place to produce live weekly content for USA Network and FOX, the current health crisis has provided leeway on what's expected. When asked if there was any feedback from the networks on WWE not producing content agreed upon, McMahon revealed the company has a good relationship with FOX and USA, and they have each other's backs. He also noted that that both networks are currently not doing as well as they would like. Strict Health Guidelines And Talent Morale Backstage Vince McMahon provided details on how WWE keeps their employees and talent safe while on the job. He noted they check for fever, and have every person who enters the building fill out a health questionnaire, asking for details on who they have come in contact with and any symptoms they may have. The company uses a number of "pandemic cleaning" systems, including special spray from Allied Bio Science to clean surfaces at the WWE Performance Center, production trucks, and company owned warehouses. https://twitter.com/HeelByNatureYT/status/1253442920004431878?s=20 According to the company website, the spray used provides a protective barrier on surfaces that can last up to 90 days. Applied with electrostatic spray technology, coatings are transformed into super-fine, surface-seeking droplets creating a protective barrier that eliminates places where microbes can hide and keeps surfaces continuously protected for up to 90 days. Vince confirmed reports that the company is changing turnbuckles, ring ropes, and canvases in between matches, and bringing in talent in waves. Working For WWE Has Become A 'Duty' When speaking on talent morale, Vince McMahon stated the roster has taken working as a challenge and "duty". He commended the talent for the hard work they put in weekly making sure the fans are entertained. WWE Network Updates, WWE 2K21 Canceled Prior to the investors call, WWE issued their Q1 earnings report which noted the average WWE Network paid subscribers were at 1.46 million. The company also revealed that Network subscribers were as high as 2.1 million during the second night of Wrestlemania 35. https://twitter.com/HeelByNatureYT/status/1253439424605675522?s=20 When asked how many of of the subscribers were paid vs. free, they declined to reveal that information WWE 2K21 Canceled During the tail end of the call, Frank Riddick confirmed rumors that WWE 2K21 video game has been canceled , and will not be released later this fall. It's unknown what WWE's relationship is like with 2K Games, or when their next major console release will be.

8 Things We Learned From WWE Q1 Earnings Call, Full Conference Call Audio

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