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Welcome to PWInsider.com's live, ongoing coverage of WWE's second quarter 2019 earnings call coverage.
Michael Weiss welcomed everyone to the call. Vince McMahon, George Barrios and Michelle Wilson are also on the call.
Vince said their earnings this quarter "is what it is." He noted they are close to closing a TV deal in India and did close them in Latin America and China.
He noted the hirings of Executive Directors for Raw and Smackdown, without mentioning names, saying they allow him to deal with long-term storyline arcs and talent development without being "in the weeds" week to week.
He praised the FOX deals that are about to hit.
George Barrios began running down the earnings highlights from the press release.
They began transitioning the new WWE Network platform last night.
They plugged the new season of Miz & Mrs. as well as the renewal of Total Bellas. They added over 90 hours of new content on the WWE Network. They had over 200 hours of original content on digital platforms. They plugged the new Netflix series and the new reality series on Quibi. They will debut a new talk show on Fox Sports 1 in the Fall and the new A&E documentaries will debut in the first quarter of 2020.
They stated Wrestlemania 35 had over 82,000 fans at MetLife Stadium.
They had over 40 competitors trying out in China last week. They will run Shanghai this September.
They were asked about what was going on in Saudi Arabia. Oof, that is a loaded question! George Barrios said they just did an event in June as part of their ten year deal. He expected they will do a second event in the country this year and they will acquire a media rights deal there as well.
They were asked about how TV ratings are tracking in India and the overall state of the paid TV market there. Barrios said he didn't want to get into categorizing discussions that are ongoing. Their general belief is that the TV sector in India will grow significantly and how they can be part of that. India is an important part of their localization plan.
They declined to discuss trends for 2020.
They were asked about Paul Heyman and Eric Bischoff being hired. Vince said he can't "be in the weeds anymore" and painted it as hirings that were made so he could free himself up for the big picture while they work on the day to day. He said they would be giving a lot of latitude and said that organizationally and creatively, this was a huge plus for the company. They didn't mention the XFL but obviously that will be a factor as well.
VInce said, the hirings "allows me to have a broader view of things and an escape from getting in the weeds.”
Barrios said they were very excited about the new, free tier of the WWE Network. Localization with different languages for the Network should be done within 12 months.
They were asked about shifting their UK deal to BT Sports in the UK. Barrios said they ultimately make choices based on evaluating the market and potential partners. They are excited but can't go into details due to confidentiality clauses.
Barrios declined to discuss buybacks on stock.
They were asked about the recent Variety piece on the state of the product. They were asked about the current on screen product and storylines. Vince said they have "definetly turned the corner" on content. The new Executive Directors can give them more depth on storylines and talent development. It's all good things in terms of a "relaunch" on their content.
Barrios said they were putting so much time and effort into evolving the WWE Network platform that perhaps they didn't see the growth that they usually get around Wrestlemania. They hadn't done a lot of updated on the Network in recent months because they were focused on building and launching the new version, which they are very excited about.
Vince said the content will be a little edgier, but they aren't going back to blood and guts and the atittude era. They will be edgier and have a more sophisticated product. They are not going back to the bloodier stuff that they graduated from. He noted their new competitor may take that approach, but WWE won't.
They were asked about the potential of NXTM shifting over to television from the WWE Network. Barrios said that every piece of content, they have to evaluate where's the best place to have that content placed. You can have it supported via advertising or distributed directly via subscription. It's a constant discussion and the one they spend the most time on, but they won't comment on NXT directly.
They were asked what type of promotion FOX will be doing to promote Smackdown. Wilson said they are very excited to partner with FOX. They are already promoting Smackdown on NASCAR and other broadcasts and that will be dialed up in September. FOX has put the strongest marketing campaign that she has ever seen. WWE will be promoted on every sports broadcast FOX has. They will also be promoted via FOX's entertainment Viprogramming, including integrating WWE into shows they have, mentioning Masked Singer as a possibility. Given the number of households FOX reaches, they are really excited about it as an opportunity in October.
Vince said that they have been led to believe that NBCU will be pushing Raw harder as they are in a more competitive situation. Vince said he didn't believe that they could match FOX's plans but they will try.
They were asked about when the current India deals expire at the end of the air. Their pay-TV agreement has ended but their broadcast agreement is still active. They also have their digital channels including YouTube for that market.
They were asked about AEW. Vince said competition is good for everyone but that he hopes they won't continue with blood and guts and can't imagine TNT would want that.
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