WWE Chairman & CEO Vince McMahon, Chief Strategy & Financial Officer George Barrios and SVP of Financial Planning & Investor Relations Michael Weitz hosted a conference call this morning to discuss the 2013 financial results. Here are highlights: * Vince said everything in the results were in line with expectations. Vince called WWE's social media growth extraordinary.
He talked about a lot of WWE's new projects and said they are moving forward. * Vince said they are out in the marketplace for the first time in a long time as far as TV rights fees goes. They're looking to finish negotiations in late April or soon after. * They are really excited about the WWE Network going live on Monday. Regarding pay-per-views, Vince says most standard providers have agreed to carry WrestleMania XXX and after that it will be on an event-by-event basis. * Barrios talked about how they've been testing the Network on different platforms in preparation of the launch. * Barrios said they are indeed in negotiations with other networks for TV rights fees. They're also having similar discussions in India. * As of today, WWE says they reach more than 260 million followers across social media - a 90% increase from the year before. * They are really happy with the success of Total Divas. * Despite a 4th quarter drop, WWE's overall toy sales were up for the year. WWE has the #2 best selling action figure property in the US. * They believe that a fully distributed WWE Network can attract between 2 and 3 million subscribers. * WWE expects a $12-$15 million first quarter loss this year due to everything that comes with the launch of the Network. * WWE's first report on the number of Network subscribers will come the Monday after WrestleMania XXX. * Barrios admitted they monitor social media chatter very closely, at least when it comes to feedback on the Network. * They spent around $12 million in 2013 preparing for the Network. * WWE is confident about the value their TV product brings and are optimistic about the TV rights fees negotiations. * An investor asked about CM Punk. Vince said: "He's taking a sabbatical, let's just put it that way." * Most providers have agreed to carry WWE pay-per-views through WrestleMania XXX but Barrios wouldn't elaborate. He said they have about 85% coverage of US households.
Permission Source : Wrestlinginc.com
