POST INTERVIEW: Brandon Thurston on WWE’s Year-End Financials
POST Wrestling
POST Wrestling
4.6 • 1.2K Ratings
🗓️ 5 February 2021
⏱️ 45 minutes
🧾️ Download transcript
Summary
John Pollock is joined by Brandon Thurston of Wrestlenomics to discuss WWE’s fourth quarter and 2020 year-end financials.
The two discuss Thursday’s earnings call and a breakdown of the key news items coming out of the financials, the shape the company is in for 2021, the future of ThunderDome, lots on the Peacock deal, how they maneuvered the pandemic, and lots more.
Brandon Thurston has released the Wrestlenomics Pro Wrestling Industry Report covering all the major promotions in 2020
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Transcript
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| 0:00.0 | Welcome back everybody to Post Wrestling. I am John Pollock and it is our our quarterly trend |
| 0:05.9 | to welcome this man back who we're getting on back-to-back weeks here at Post Wrestling. |
| 0:11.2 | No shortage of great stuff to talk about. He is Russell Nommick's own Brandon Thurston. Brandon, |
| 0:16.9 | welcome back. Thanks again for having me, John. The market has closed and WWE shares. |
| 0:24.2 | The market is closing two minutes ago as of when we're recording this and that the shares have |
| 0:28.4 | closed below $50, $49 and 23 cents is what I'm seeing on my Google machine right now. |
| 0:35.5 | Was that a surprise to you, the response some almost 24 hours since the release of the financials |
| 0:42.0 | on Thursday? Yeah, I mean I never really know how to what to expect out of the share price. |
| 0:47.2 | That's down 12%. That's a big drop in the bigger picture though that the shares have been |
| 0:54.0 | climbing pretty strongly since the last earnings report at the end of October. So just to give |
| 0:59.7 | it some context like on Halloween, I think is the day of the last report or is around that day. |
| 1:06.4 | It was down to $38 and now it's at $49 so just within the last three months there's been a lot |
| 1:11.9 | of growth and the Peacock deal news came out and a lot of the analysts have upgraded their estimates |
| 1:17.5 | and their price targets. But I think the reason for shares being down is the analysts expected a lot |
| 1:24.4 | more profitable Q4 than we got. However, in the big picture, this is the most 2020, |
| 1:30.5 | is the most profitable year in WWE history, adjusted for inflation, even more, |
| 1:36.2 | it's about twice as profitable as the attitude era, adjusted for inflation. |
| 1:41.2 | And for those that have been following your work, you largely mapped this out very early |
| 1:47.5 | in the pandemic that WWE with the belief that their television deals would not be interrupted |
| 1:53.8 | stood to have their most profitable year to date. And I think when we rewind back to April and |
| 1:59.4 | even into May and we're looking at, you know, any company facing this pandemic and what it could |
| 2:04.4 | mean for them, I think it became kind of clear early on that the company, if they could maintain |
... |
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