WWE claims $43.8 million Q2 profits despite pandemic
While professional sports commissioners and team owners frequently comment on financial losses amid the coronavirus pandemic, World Wrestling Entertainment enjoyed a fruitful second quarter of the economic year.
Per Dave Meltzer of the Wrestling Observer, WWE claimed during a Thursday earnings report that the promotion generated $43.8 million in profits for Q2:
WWE has continued weekly television shows and pay-per-view events behind closed doors and without fans at its Performance Center in Florida since the company stopped touring in March. Because of the uncontrolled virus outbreak, it's not known when the promotion will host its next live event.
Meltzer added that roster cuts made during the spring won't be factored in until the Q3 earnings call, meaning WWE chairman and CEO Vince McMahon will again be looking at record profits later this year:
Thanks largely to lucrative media rights deals with Fox and Comcast-owned USA Network, WWE would've thrived even if the promotion hadn't parted ways with any on-air talent. Companies such as New Japan Pro Wrestling, Ring of Honor and All Elite Wrestling have not trimmed rosters since March:
WWE has temporarily suspended taping on multiple occasions due to coronavirus outbreaks since the pandemic started, but Thursday's reveal shows why the promotion continues to create fresh content for television partners.
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