WWE Reports Shocking Quarterly Profit Figure During the COVID-19 Pandemic
The Coronavirus pandemic has affected almost all the industries across the globe. Many people have lost their jobs, and businesses are already reporting record losses. The overall economic scenario has changed due to the coronavirus pandemic. However, that’s not the case with WWE.
Vince McMahon, head WWE has not only weathered the storm but also he has made a profit in the process.
However, Dave Meltzer reported on Twitter that WWE profits were increased fourfold. He took to his twitter handle and wrote: “We’ll have a full story later, but WWE profits for the quarter blew past analysts’ expectations. They figured $11.5 million to 12 million. The Actual was $43.8 million. Lots of factors, but they saved tons in producing at PC and multiple shows together.”
But the question is how on earth the company could make the profit when in reality, professional wrestling has been one of the biggest victims of the pandemic because live audiences are a major source of revenue for them. And of course, due to lockdown, live audiences were completely absent.