WWE close to running live event business at a loss
Perhaps the most alarming thing from WWE’s Q3 2018 financial results is how bad non-televised live events are performing.
For the last quarter, WWE had an average attendance of 4,500, down from 4,900 it had in the same quarter last year. When taking into consideration Q1 and Q2 of 2018, WWE had 5,400 in Q1 and 5,000 in Q2 so the attendance is steadily declining.
The touring business side in WWE’s portfolio barely broke even this quarter, something which has been unheard of in a very, very, very long time. Addressing the live event business during the conference call with investors, Vince McMahon acknowledged the poor attendance at live events and if things stay the same, WWE would be running tours at a loss.
McMahon said that they understand what’s wrong and they know how to fix it and said that the company will be reimagining non-televised live events very soon.