Transition to DVD Helps WWE Bottom Line21 Aug, 2002 By: Jessica Wolf
World Wrestling Entertainment is riding high on home video, despite overall losses from its pay-per-view and live event units.
WWE home video revenues increased 26 percent in first quarter 2002 to 3.5 million from 2.87 million last year. The company reported a 36 percent increase in WWE video units sold in the quarter and estimates 50 percent of total units sold were DVD titles, up from 18 percent DVD sales in the first quarter of 2001.
Video gaming flexed its WWE muscle as well. WWE Wrestle Mania X8 was the No. 1 GameCube title on the market for this year's first quarter, according to the company, and was No. 7 on the top 100 selling video game titles for the month of June.
WWE's first fiscal quarter of 2002 ended July 26. Overall, total revenues for WWE branded merchandise were $20.3 million for the quarter versus $18.3 million last year, the company reported.