WWE was hit by the COVID-19 pandemic, similar to almost every company worldwide, having to cancel several live events and moving all the shows to the Performance Center in Florida. WWE had to tape their biggest PPV of the year, WrestleMania, in an empty arena.
However, despite the losses due to the absence of fans, WWE managed to record the most successful quarter in their history. The pandemic outright benefitted them, according to the Wrestling Observer Newsletter.
Several cost-cutting measures were followed by the company during the pandemic. Several episodes were taped at one go, while they cut down on travel costs. These measures combined with an increase in digital content and subscriptions led to a tremendous profit for the company.
Dave Meltzer of the Wrestling Observer sent out a tweet reporting that WWE expected to make around 11 to 12 million dollars this quarter, but in reality almost quadrupled the profits, with a total profit of nearly 44 million dollars.
Vince McMahon mentioned on the investors call that some of the cost-cutting measures they adopted will continue forever, as WWE’s numbers show promising signs.
It should be noted that WWE’s figures include the salaries of all the employees who were terminated in April, as WWE continued to pay them their wages for the time they were under the no-compete clause.
It was recently noted that WWE is looking to bring back fans soon, but with these numbers, they will probably be happy to present their shows the way it is.