WWE® (NYSE: WWE), Dallas Mayor Eric Johnson and Arlington Mayor
Jim Ross today announced that WrestleMania generated $206.5 million
in economic impact for the Dallas/Arlington region this past April,
according to a study conducted by the Enigma Research Corporation.
This marks a new company record and the first time in history that
WrestleMania has generated more than $200 million in economic
impact.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220711005533/en/
WRESTLEMANIA® GENERATES $206 MILLION FOR
DALLAS/ARLINGTON REGION (Photo: Business Wire)
Over the past 12 years, WrestleMania has generated more than $1
billion in cumulative economic impact for the cities that have
hosted the event. WrestleMania also generated approximately $24.8
million in federal, state and local taxes.
“On behalf of the Jones family and the entire Dallas Cowboys
organization, we congratulate WWE on their milestone success of
WrestleMania at AT&T Stadium,” said Dallas Cowboys Chief Brand
Officer Charlotte Jones. “We were honored to partner with WWE and
their Superstars to give back to the community in a multitude of
ways during WrestleMania Week.”
“On behalf of the city of Arlington, we congratulate WWE and
their fans for surpassing $200 million in economic impact for the
first time in WrestleMania history,” said Arlington Mayor Jim Ross.
“We are glad to have shared this success and look forward to the
opportunity for AT&T Stadium to host a future
WrestleMania.”
“We are thrilled that WrestleMania’s return to full capacity
generated stupendous record results for our partners in Dallas and
Arlington, showcasing the continued growth for WWE’s largest annual
celebration,” said WWE Executive Vice President of Special Events
John P. Saboor. “This success would not have been possible without
the tireless support of Mayor Johnson, Mayor Ross, Charlotte Jones
and the entire Jones family, the Dallas Cowboys organization,
Dallas Sports Commission, American Airlines Center and the rest of
our public and private sector partners throughout the region. We
now turn our focus to next year’s WrestleMania in Hollywood.”
A capacity crowd of 156,352 fans from all 50 states and 53
countries attended WWE’s pop-culture extravaganza over the course
of two nights this past April, making it the highest-grossing and
most-attended event in WWE history. Key highlights from the study
include:
- $206.5 million in direct, indirect and induced impact derived
from spending by visitors to the Dallas/Arlington region for
WrestleMania.
- 67% of fans that attended WrestleMania were from outside the
Dallas/Arlington region and stayed an average of 3.5 nights.
- $25.4 million was spent on hotels and accommodations within the
Dallas/Arlington region.
- The economic impact derived from WrestleMania Week was equal to
the creation of 1,777 full-time jobs for the area.
Next year, WrestleMania will take place Saturday, April 1 and
Sunday, April 2 live from SoFi Stadium in Los Angeles. The event
will stream live exclusively on Peacock in the United States and
WWE Network everywhere else. Ticket information will be
forthcoming.
About Enigma Research
Corporation
Enigma Research Corporation is an international consulting firm
which specializes in measuring the economic impact of special
events. Enigma’s economists developed a customized model which
converted expenditures into economic impact, employment supported
and taxes generated as a result of the event.
About WWE
WWE, a publicly traded company (NYSE: WWE), is an integrated
media organization and recognized leader in global entertainment.
The Company consists of a portfolio of businesses that create and
deliver original content 52 weeks a year to a global audience. WWE
is committed to family-friendly entertainment on its television
programming, premium live event, digital media and publishing
platforms. WWE’s TV-PG programming can be seen in more than 1
billion homes worldwide in 30 languages through world-class
distribution partners including NBCUniversal, FOX Sports, BT Sport,
Sony India and Rogers. The award-winning WWE Network includes all
premium live events, scheduled programming and a massive
video-on-demand library and is currently available in more than 180
countries. In the United States, NBCUniversal’s streaming service,
Peacock, is the exclusive home to WWE Network.
Additional information on WWE can be found at wwe.com and
corporate.wwe.com.
Trademarks: All WWE programming,
talent names, images, likenesses, slogans, wrestling moves,
trademarks, logos, and copyrights are the exclusive property of WWE
and its subsidiaries. All other trademarks, logos and copyrights
are the property of their respective owners.
Forward-Looking Statements: This
press release contains forward-looking statements pursuant to the
safe harbor provisions of the Securities Litigation Reform Act of
1995, which are subject to various risks and uncertainties. These
risks and uncertainties include, without limitation, risks relating
to: the COVID-19 outbreak, which may continue to affect negatively
world economies as well as our industry, business and results of
operations; entering, maintaining and renewing major distribution
and licensing agreements; a rapidly evolving and highly competitive
media landscape; WWE Network; computer systems, content delivery
and online operations of our Company and our business partners;
privacy norms and regulations; our need to continue to develop
creative and entertaining programs and events; our need to retain
and continue to recruit key performers; the possibility of a
decline in the popularity of our brand of sports entertainment; the
possible unexpected loss of the services of Vincent K. McMahon;
possible adverse changes in the regulatory atmosphere and related
private sector initiatives; the highly competitive, rapidly
changing and increasingly fragmented nature of the markets in which
we operate and/or our inability to compete effectively, especially
against competitors with greater financial resources or marketplace
presence; uncertainties associated with international markets
including possible disruptions and reputational risks; our
difficulty or inability to promote and conduct our live events
and/or other businesses if we do not comply with applicable
regulations; our dependence on our intellectual property rights,
our need to protect those rights, and the risks of our infringement
of others’ intellectual property rights; the complexity of our
rights agreements across distribution mechanisms and geographical
areas; potential substantial liability in the event of accidents or
injuries occurring during our physically demanding events; large
public events as well as travel to and from such events; our
expansion into new or complementary businesses, strategic
investments and/or acquisitions; our accounts receivable; the
construction and move to our new leased corporate and media
production headquarters; litigation; a change in the tax laws of
key jurisdictions; our feature film business; a possible decline in
general economic conditions and disruption in financial markets
including any resulting from COVID-19; our indebtedness including
our convertible notes; our potential failure to meet market
expectations for our financial performance; Vincent K. McMahon
exercises control over our affairs, and his interests may conflict
with the holders of our Class A common stock; our share repurchase
program; a substantial number of shares are eligible for sale by
the McMahons and the sale, or the perception of possible sales, of
those shares could lower our stock price; and the volatility of our
Class A common stock. In addition, our dividend is dependent on a
number of factors, including, among other things, our liquidity and
historical and projected cash flow, strategic plan (including
alternative uses of capital), our financial results and condition,
contractual and legal restrictions on the payment of dividends
(including under our revolving credit facility), general economic
and competitive conditions and such other factors as our Board of
Directors may consider relevant. Forward-looking statements made by
the Company speak only as of the date made and are subject to
change without any obligation on the part of the Company to update
or revise them. Undue reliance should not be placed on these
statements. For more information about risks and uncertainties
associated with the Company’s business, please refer to the
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” and “Risk Factors” sections of the Company’s
SEC filings, including, but not limited to, our annual report on
Form 10-K and quarterly reports on Form 10-Q.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220711005533/en/
Media Contact: Adam Hopkins
203-352-8675 Adam.Hopkins@wwecorp.com
Investor Contact: Seth
Zaslow 203-352-1026 Seth.Zaslow@wwecorp.com
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