The WWE reported its Q1 results this week, with revenue at $263.5 million, a 9% decrease year over year. The company noted that the drop was due to the absence of live events due the pandemic.
While revenue was down, the numbers were ahead of Wall Street forecasts, due in part to the WWE’s partnership with Peacock. WWE Network content was acquired by Peacock in March and gave the network a revenue boost for the quarter, though upfront fees paid by Peacock were not disclosed.
In the earnings report, WWE said that Wrestlemania 37 was the most-viewed live event on Peacock since the streaming service launched. Viewership reached nearly 1.1 billion video views across digital and social platforms, according to highlights in the report.
“During the first quarter, we continued to effectively execute our strategy, demonstrating our ability to adapt to a challenging live event environment and to expand the reach and monetization of our content in a changing media landscape,” said Vince McMahon, WWE Chairman & CEO. “The launch of WWE Network on NBCU’s streaming service, Peacock, the multi-year extension to distribute NXT on USA Network and the successful staging of WrestleMania illustrate the enduring and increasing value of the WWE brand as the foundation for long-term growth.”