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WWE hosted their second quarter conference call this morning.
Michael Weitz opened the call. He is joined by Vince McMahon and George Barrios.
Vince opened on the call by talking about how they were down more than they thought they would be. He said that he didn't want to beat around the bush. He said that they do know what they are doing. He said that WrestleMania was down a bit from what they expected but it was still strong. He put over Total Divas as a way to reach women on E! Network. He said that ratings were solid and said that they would be doing the Flintstones movie. He is happy that they will now be working with The Bridge Direct. He said that they are launching a John Cena line of clothes with K Mart this fall. He said that they renewed the deal with Fruity Pebbles and said that they are opening up a lot of deals with their PG product because it's safe for companies to advertising with. He said it's got the Good Housekeeping seal of approval. He said that live events attendance is about even and said that the social media aspect is up 74% from last year.
He then emphasized how important social media is. He said that their app is on the cutting edge of how people will watch TV now. He said that they have almost 7 million downloads and emphasized that by airing content live during Raw it keeps people watching the show live. He said that they are teaching people how to watch TV again.
He said that they are working on all of their TV deals throughout the world. Vince said that they have always been undervalued but "that will no longer be the case going forward".
He talked about the new Performance Center and how it will help them with talent going forward in the future. He said it takes a while for talent to grow and "get over". He said that they have a lot of young talent in their developmental system. He said that those are the great metrics that are the positive to look at for an otherwise "lousy quarter". It should be noted that Wall Street agreed with him as the WWE is stock on a day when the market is way up.
George Barrios then recapped the results of the second quarter, which you can read elsewhere on the site.
I will be back with more later.
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