WWE Expects Peacock Deal to Help Boost Profits in 2021
Todd Spangler, provided by
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UPDATED:WWE issued a bullish forecast for adjusted operating income in 2021, citing as one of the key factors its new deal to fold the U.S. version of its WWE Network streaming outlet into NBCUniversal’s Peacock.
On Monday, WWE and NBCU announced a multiyear pact to bring WWE Network exclusively to Peacock in the U.S.
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Subsequently, WWE announced that it expects to report record 2020 operating income of $209 million and record adjusted operating income of $286 million (up almost 60% from 2019). In addition, WWE said it estimates the company can achieve 2021 adjusted operating income of $270 million to $305 million, citing revenue growth “driven by the impact of the Peacock transaction” as well as the gradual return of ticketed live events and the “escalation of core content rights fees.” Operating income will take a hit from increased personnel and