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WWE earnings report reveals record-breaking numbers for 2021

By Raphael Garcia

EAST RUTHERFORD, NJ - FEBRUARY 16: Vince McMahon attends a press conference to announce that WWE Wrestlemania 29 will be held at MetLife Stadium in 2013 at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey. (Photo by Michael N. Todaro/Getty Images)
EAST RUTHERFORD, NJ - FEBRUARY 16: Vince McMahon attends a press conference to announce that WWE Wrestlemania 29 will be held at MetLife Stadium in 2013 at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey. (Photo by Michael N. Todaro/Getty Images) /
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WWE reveals record-breaking earnings in 2021. 

WWE released its first-quarter earnings report which included a full look at 2021. Looking at the information, plus listening to Vince McMahon, Stephanie McMahon, and Nick Khan talk about the performance, it’s clear that WWE is experiencing a revenue boom even as the on-air product continues to receive consistent negative responses.

Looking at the full report shows exponential growth in 2021 compared to 2020 and historical metrics. Here are some high-level notes:

  • Revenue increased 12 percent in 2021 to $1.095 billion, the highest revenue year in the company’s history
  • Operating income increased 24 percent to a record of $327 million
  • Returned capital to shareholders totaling $202 million, including share repurchases and dividends, paid

COVID-19, not budget cuts, is cited as the reason for a reduction of workforce.

Those are some big numbers for WWE to report out on, even as COVID-19 is a hindrance to business on a near-monthly basis. The report also looks forward through 2022 for an outlook on performance for the rest of the year as the company looks to take advantage of opportunities such as expanding the WWE Network into more international markets, new original series, and additional rights licensing.

During the earnings call that accompanied the end of the quarter, Khan referenced many cost-saving opportunities to limit expenses throughout the year. While such facts as taping in the Performance Center helped throughout the year, he did not make any reference to the several names and backstage personnel that were released throughout the year.

“Budget cuts” was the reason listed behind many of the releases that saw individuals like Braun Strowman, Bray Wyatt, Mickie James, and others removed from the roster. An interesting note in the press release cited COVID-19 as the reason behind the reduction of the workforce.

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