World Wrestling Entertainment’s int'l expansion and investments in digital video "lifted the company to stronger quarterly earnings than expected," according to Matthew Rocco of the FINANCIAL TIMES. WWE said Thursday that its streaming video service, WWE Network, had 1.59 million average paid subscribers during the quarter ending in December, a 7% increase year-over-year. The company noted that int'l pay-per-view events were among its most-watched programs, including WWE Super Show-Down, an event in Australia that drew the largest crowd outside the U.S. in the last 25 years. WWE Chair & CEO Vince McMahon said, "Our long-term growth strategy will continue to focus on content creation, digitization and international development." WWE has sought to expand its footprint in Asia, the Middle East and other markets outside the U.S. In the most recent quarter, WWE held its first tryouts in Germany, Chile and Saudi Arabia. It also opened its first int'l performance center in the U.K. last month. Revenue from live events was "roughly flat against the year-ago quarter." Media revenue surged 40% to a quarterly record, benefiting from WWE Network subscriptions, int'l growth and an increase in media rights fees (FT, 2/7).
