WWE held their first quarter conference call today to go over their released financial numbers and other related items. Involved in the call were WWE Chief Executive Officer Linda McMahon, WWE Chief Operating Officer Michael Sileck, and WWE Chief Financial Officer Frank Serpe.
– Linda read a statement putting over the numbers and the success of WrestleMania drawing 1.2 million buys. She blamed the lack of success in other areas on tighter scheduling, increased prices, and more competition. Linda said WWE is going to improve their storylines as a way of increasing business.
– Linda said that The Condemned has earned roughly $4.4 million thus far and that is below expectations.
– Michael Sileck put over the success of WWE.com. He noted increases in online revenue and WWE”s new mobile deal with AT&T. He added that they have hired more people for the website and recently signed an ad deal with Colgate.
– Sileck put over the decision to make all PPVs tri-branded.
– Sileck announced that there will be no ECW December to Dismember this year because of too many PPVs.
– Frank Serpe put over the success of the overseas tours.
– The Q&A session started.
– WWE is looking for more High Defininition development in 2008.
– When asked about sales for DVDs dropping, they stated that last quarter was above expectations and this quarter was normal.
– Linda blamed some of the lack of success for The Condemned on the film’s R-rating, saying teenage WWE fans were unable to see the film. She remained hopeful that the film will rebound in the second weekend and that DVD sales will be strong.
– Linda said that WWE is now looking to do more direct-to-video films and that there are no more theatrical releases in the works, although talks are ongoing for another theater release.
– Linda talked about the lawsuit with Jakks Pacific/THQ and how its moving slowly. She said that business will continue as normal with them until the case is resolved.
– They put over the success of international tours but admitted that they aren’t leading to a lot of international merchandise buys despite leading to increases in DVD sales and overseas licensing.
