DVD Taking VHS to the Mat at WWE21 Nov, 2002 By: Holly J. Wagner
Home video revenues are up 32 percent to $8 million at World Wrestling Entertainment, which today reported a 20 percent increase in units sold in the six months ended Oct. 25 this year over the same period last year.
The bump is because DVD is fast chasing out VHS, as the company reported DVD accounted for 62 percent of units sold in the period, compared to 26 percent in the comparable 2001 period, and noted DVD units wholesale for about $5 more each than VHS.
For the second quarter home video revenues were up 37 percent to $4.5 million. DVDs made up 72 percent of units sold in the quarter this year compared to 31 percent last year. The company also mentioned that six of its titles registered in Billboard's Top 10 selling Recreational Sports home videos in the week ended Nov. 16.
The gains in home video were not enough to offset losses in other categories, including a steady slide in pay-per-view buys: the company reported a $1.6 million net loss for the quarter. The situation may improve, however, as WWE CEO Linda McMahon reported the company has signed new deals for its home video business.