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TheStreet Open House

World Wrestling Entertainment's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Today we’ll review our financial results for the second quarter and we’ll follow this review with a Q&A session. At this time, it’s my privilege to turn the call over to Vince.

Vince McMahon

Good morning everyone. I guess it should be noted pretty much in the quarter, we are essentially flat, which is nothing to write on the wall, about 24 million. Results are reflecting pretty much of a profit growth which George will talk about for the most businesses. We have had a strong Pay-Per-View performance which is about a 17% increase which is actually pretty good.

We have had somewhat reduced losses from our movie business and again we are bullish on that and I guess George will reflect some of that as well. We had some decrease in licensing profits because of the absence of a video game which was being produced called All Stars. Somewhat increase in SG&A expense is main staffing.

So it is sort of a reset of a management incentive compensation. I guess may be the key metrics are encouraging, they are a little mixed, but encouraging. Pay-Per-View as I said up 17% which a substantial social media is exploding for us.

Live events remained pretty much flat as well as television ratings, not withstanding a third hour of Raw which just debuted with excellent television ratings and we just did the 1001 Monday television show which is obviously if you know speaks to the staying power of the brand. No television show like it primetime has ever come anywhere near 1001 episodes.

And the third hour is going to give us more all the more exposure in some of the new audience's world to continue to build on the interactive strength of Monday Night Raw. Likewise in October we are going to be producing a one hour television show on ION, it is called Main Event. And we think that that television show will give us an audience that we currently do not have I believe on Wednesday in prime time 8 or 9 o' clock.

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