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WWE® Reports Record Full Year 2022 Results
02/02/2023
Fourth Quarter 2022 Highlights
Revenue was $325.3 million, an increase of 5%; Operating income was $62.7 million, a decrease of 22%; and Adjusted OIBDA was $90.2 million, a
decrease of 4%
Returned $8.9 million of capital to shareholders through dividend payments
Crown Jewel was the most viewed international event in WWE’s history. Domestic unique viewership on Peacock increased 70% over the prior year
event
Each WWE domestic premium live event (Extreme Rules and Survivor Series) was the most viewed event in its history with year-over-year increases of
36% and 46%, respectively, in domestic unique viewership
WWE announced a multi-year extension of its partnership with MultiChoice to expand the distribution of the Company’s content in Sub-Saharan Africa
In January 2023, WWE held Royal Rumble at the Alamodome in San Antonio, TX. The event was the most viewed Royal Rumble in WWE’s history, with
a 52% year-over-year increase in domestic unique viewership, and generated the highest gate in the event’s history
Full Year 2022 Highlights
Revenue increased 18% to $1.3 billion, the highest in the Company’s history
Operating income increased 11% to a record $283.3 million
Adjusted OIBDA increased 19% to a record $384.6 million
Returned $75.7 million of capital to shareholders, including share repurchases and dividends paid
2023 Business Outlook
The Company is targeting Adjusted OIBDA of $395 to $410 million for the full year 2023, which would be an all-time record. The Company also expects
to generate an all-time record for revenue in 2023.
STAMFORD, Conn.--(BUSINESS WIRE)-- WWE (NYSE: WWE) today announced financial results for its fourth quarter and year ended December 31, 2022.
“2022 was another strong year for WWE. We generated record financial results and our business continued to perform well due to the strength of our
content and brand, which drove audience engagement and monetization across multiple platforms,” said Nick Khan, WWE Chief Executive Officer. “In
2023, we’re focused on continuing to execute on our key operational initiatives, such as the domestic licensing of our flagship programs, Raw and
SmackDown, as well as the international licensing of our content in key markets. At the same time, we’re focused on the review of strategic alternatives
that we announced earlier this year, with the goal of maximizing value for all shareholders.”
Frank Riddick, WWE President & Chief Financial Officer, added, “For the year, we achieved record revenue and Adjusted OIBDA, which was at the very
high end of our upwardly revised guidance range. In 2022, Adjusted OIBDA increased 19% reflecting 18% revenue growth. Our financial performance was
primarily driven by the return to a full year of ticketed live events, including the staging of two large-scale international events, as well as the contractual
escalation of rights fees for our flagship weekly programming and premium live events. In 2023, we anticipate Adjusted OIBDA of $395 to $410 million,
reflecting continued revenue growth and relatively flat operating expenses.”
Fourth-Quarter Consolidated Results
Revenue increased 5% to $325.3 million, primarily due to an increase in network revenues related to the timing of premium live events as well as higher
monetization of third-party original programming. These increases were partially offset by a decline in consumer products licensing and eCommerce
revenue. Results also included the staging of a large-scale international event in both the current and prior year periods.
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Operating Income decreased 22%, or $17.9 million, to $62.7 million, as the increase in revenue was offset by an increase in operating expenses. The
increase in operating expenses was primarily driven by higher costs to support the creation of content. To a lesser extent, costs associated with the
Special Committee investigation and related matters as well as higher stock compensation expense also contributed to the increase in operating
expenses. (See the “Special Committee Investigation and Related Matters” discussion for further details.) The Company’s operating income margin
decreased to 19% from 26%.
Adjusted OIBDA decreased 4% to $90.2 million. The Company’s Adjusted OIBDA margin decreased to 28% from 30%.
Net Income was $38.8 million, or $0.45 per diluted share, a decrease from $60.9 million, or $0.73 per diluted share, primarily reflecting the decrease in
operating performance.
Cash flows generated by operating activities were $120.3 million, an increase from $46.6 million, as lower net income was more than offset by the
favorable timing of collections associated with the Company’s large-scale international events.
Free Cash Flow was $43.0 million, an increase from $31.8 million, as the increase in cash flow generated by operating activities was partially offset by
an increase in capital expenditures. For the three months ended December 31, 2022, the Company incurred $71.7 million of capital expenditures related to
its new headquarter facility. Excluding the capital expenditures related to the new headquarter facility, Free Cash Flow for the three months ended
December 31, 2022 was $114.7 million.
Return of Capital to Shareholders
The Company returned $8.9 million of capital to shareholders in dividends in the fourth quarter of 2022. There were no share repurchases under the
Company’s existing stock repurchase program.
Full Year 2022 Consolidated Results
Revenue increased 18%, or $196.3 million, to $1.3 billion, primarily due to the increased monetization of content, the return to a full year of ticketed live
events and the staging of an additional large-scale international event in 2022.
Operating Income increased 11%, or $27.3 million, to $283.3 million, as the increase in revenue was partially offset by an increase in operating expenses.
The increase in operating expenses was primarily driven by higher costs to support the creation of content as well as the impact of certain costs
associated with the Special Committee investigation and related matters. (See the “Special Committee Investigation and Related Matters” discussion for
further details.) The Company’s operating income margin decreased to 22% from 23%.
Adjusted OIBDA increased 19%, or $60.5 million, to $384.6 million. The Company’s Adjusted OIBDA margin remained flat at 30%.
Net Income increased to $195.6 million, or $2.29 per diluted share, from $177.4 million, or $2.09 per diluted share, primarily reflecting the increase in
operating performance. The results for 2022 also reflected a decrease in interest expense partially offset by an increase in income taxes.
Cash flows generated by operating activities were $325.6 million, an increase from $182.9 million, primarily due to the timing of collections
associated with the Company’s large-scale international events and WWE Network, as well as improved operating performance.
Free Cash Flow was $125.7 million, a decrease from $143.7 million, as the increase in cash flows generated by operating activities was offset by an
increase in capital expenditures. For the twelve months ended December 31, 2022, the Company incurred $170.6 million of capital expenditures related to
its new headquarter facility. Excluding the capital expenditures related to the new headquarter facility, Free Cash Flow for the twelve months ended
December 31, 2022 was $296.3 million.
Cash, cash equivalents and short-term investments were $478.7 million as of December 31, 2022. The Company currently estimates debt
capacity under its revolving line of credit of $200 million.
Return of Capital to Shareholders
The Company returned $75.7 million to shareholders in 2022, including $40.0 million in share repurchases and $35.7 million in dividends paid. Under
the Company’s existing stock repurchase program, approximately 5.3 million shares have been repurchased to-date at an average price of $54.09 per
share. As of December 31, 2022, the Company had $211 million available under its existing $500 million stock repurchase authorization.
Results by Operating Segment
The schedule below reflects WWE’s performance by operating segment (in million):
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Three Months Ended Year Ended
December 31, December 31,
2022 2021 2022 2021
Net Revenue:
Media $ 279.7 $ 257.6 $ 1,033.9 $ 936.2
Live Events 23.8 20.1 123.1 57.8
Consumer Products 21.8 32.6 134.5 101.2
Total Net Revenue $ 325.3 $ 310.3 $ 1,291.5 $ 1,095.2
Operating Income (Loss):
Media $ 105.6 $ 106.3 $ 387.5 $ 363.4
Live Events 0.2 1.4 25.0 6.9
Consumer Products 8.8 12.5 54.4 33.8
Corporate (51.9) (39.6) (183.6) (148.1)
Total Operating Income $ 62.7 $ 80.6 $ 283.3 $ 256.0
Adjusted OIBDA:
Media $ 115.9 $ 112.1 $ 428.7 $ 390.5
Live Events 0.8 1.6 27.2 7.7
Consumer Products 9.4 12.9 56.6 35.5
Corporate (35.9) (32.4) (127.9) (109.6)
Total Adjusted OIBDA $ 90.2 $ 94.2 $ 384.6 $ 324.1
Media
Fourth-Quarter 2022
Revenue increased 9%, or $22.1 million, to $279.7 million, primarily due to an increase in network revenues related to the timing of premium live events,
which resulted in an additional event in the current year period. The increase was also related to the delivery of third-party original programming. Results
included the staging of a large-scale international event in both the current and prior year periods.
Three Months Ended Year Ended
December 31, December 31,
2022 2021 2022 2021
Media Revenue:
Network $ 47.1 $ 33.9 $ 222.0 $ 225.0
Core content rights fees 155.2 150.5 596.8 566.2
Advertising and sponsorship 15.7 21.1 66.6 71.5
Other 61.7 52.1 148.5 73.5
Total Revenue $ 279.7 $ 257.6 $ 1,033.9 $ 936.2
(a)Network revenue consists primarily of license fees associated with the distribution of WWE Network content on the Peacock service in the U.S. (effective March
18, 2021), as well as subscription fees from customers of WWE Network and license fees associated with the Company’s international licensed partner
agreements. Network revenue for the twelve-month period ended December 31, 2021, includes the upfront revenue recognition related to the delivery of certain
WWE Network intellectual property rights to Peacock in the first quarter.
(b) Core content rights fees consist primarily of licensing revenue from the distribution of the Company’s flagship programs, Raw and SmackDown, as well as its
NXT programming, through global broadcast, pay television and digital platforms.
(c) Advertising and sponsorship revenue within the Media segment consists primarily of advertising revenue from the Company’s content on third-party social
media platforms and sponsorship fees from sponsors who promote products utilizing the Company’s media platforms, including promotion on the Company’s
digital websites and on-air promotional media spots.
(d) Other revenue within the Media segment reflects revenue from the distribution of other WWE content, including, but not limited to, certain live in-ring
programming content in international markets, scripted, reality and other programming, as well as theatrical and direct-to-home video releases.
Operating income decreased 1%, or $0.7 million, to $105.6 million, as the increase in revenue (as described above) was partially offset by an increase in
operating expenses. The increase in operating expenses was primarily driven by higher costs to support the creation of content.
Adjusted OIBDA increased 3%, or $3.8 million, to $115.9 million.
Full Year 2022
Revenue increased 10%, or $97.7 million, to $1,033.9 million, primarily due to the staging of two large-scale international events in 2022, compared to one
in 2021. The Company was unable to stage a second event in 2021 due to public health concerns related to the Covid-19 pandemic. The increase was also
related to an increase in core content rights fees for the Company’s flagship programs, Raw and SmackDown, and the monetization of third-party
original programming. These increases were partially offset by a decline in network revenue due to the impact of upfront revenue recognition related to
the delivery of certain WWE Network intellectual property rights to Peacock in 2021.
Operating income increased 7%, or $24.1 million, to $387.5 million, as the increase in revenue (as described above) was partially offset by an increase in
operating expenses. The increase in operating expenses was primarily driven by higher costs to support the creation of content.
Adjusted OIBDA increased 10%, or $38.2 million, to $428.7 million.
Live Events
Fourth-Quarter 2022
Revenue increased 18%, or $3.7 million, to $23.8 million, primarily due to an increase in North American ticket sales as a result of an increase in the
number of live events. There were 61 total ticketed live events in the current quarter, consisting of 54 events in North America and 7 events in
international markets. Average attendance at the Company’s North American events was approximately 5,500. In the prior year period, the Company
staged 57 total ticketed live events, consisting of 48 events in North America and 9 events in international markets. Average attendance at the Company’s
North American events was approximately 5,200 in the prior year period.
(a)
(b)
(c)
(d)
Three Months Ended Year Ended
December 31, December 31,
2022 2021 2022 2021
Live Events Revenue:
North American ticket sales $ 19.0 $ 15.8 $ 97.9 $ 46.3
International ticket sales 1.9 2.2 12.1 4.6
Advertising and sponsorship 0.8 0.2 4.8 0.9
Other 2.1 1.9 8.3 6.0
Total Revenue $ 23.8 $ 20.1 $ 123.1 $ 57.8
(e) Advertising and sponsorship revenue consists primarily of fees from advertisers and sponsors that promote products utilizing the Company’s live events (i.e.,
presenting sponsor of fan engagement events and advertising signage at events).
(f) Other Live Events includes revenue from the sale of travel packages associated with the Company’s global live events, commissions earned through secondary
ticketing, and revenue from events for which the Company receives a fixed fee
Operating income decreased to $0.2 million as compared to $1.4 million, as the increase in ticket sales (as described above) was offset by an increase in
operating costs, including event-related expenses.
Adjusted OIBDA decreased to $0.8 million as compared to $1.6 million.
Full Year 2022
Revenue increased 113%, or $65.3 million, to $123.1 million, primarily due to an increase in North American ticket sales as a result of a return to full year
ticketed live events. International ticket sales increased primarily due to the staging of a major stadium event, Clash at the Castle. There were 231 total
ticketed live events in 2022, consisting of 218 events in North America and 13 events in international markets. Average attendance at the Company’s
North American events was approximately 6,100. In 2021, the Company staged 101 total ticketed live events, consisting of 88 events in North America and
13 events in international markets. Average attendance at the Company’s North American events was approximately 6,900 in 2021.
Operating income increased 262%, or $18.1 million, to $25.0 million, as the increase in revenue (as described above) was partially offset by an increase in
operating expenses. The increase in operating expenses was primarily driven by an increase in event-related expenses, largely due to the increase in the
number of events.
Adjusted OIBDA increased 253%, or $19.5 million, to $27.2 million.
Consumer Products
Fourth-Quarter 2022
Revenue decreased 33%, or $10.8 million, to $21.8 million, primarily due to a decrease in licensing and eCommerce revenue. Licensing revenue reflected
an increase in collectibles more than offset by a decline in video games, due primarily to timing. As previously disclosed, during the third quarter of 2022,
the Company revised its estimates related to revenue recognition for certain licensing agreements with minimum guarantees. This change in estimates
negatively impacted licensing revenue in the fourth quarter of 2022. The decrease in eCommerce revenue primarily related to the previously disclosed
transition of our digital retail platform to Fanatics. The structure of the Fanatics partnership resulted in a reduction of revenue as the activity is now
recorded on a “net”, as opposed to “gross”, basis.
(e)
(f)
Three Months Ended Year Ended
December 31, December 31,
2022 2021 2022 2021
Consumer Products Revenue:
Consumer product licensing $ 12.3 $ 18.1 $ 77.5 $ 52.0
eCommerce 5.0 11.0 33.2 39.1
Venue merchandise 4.5 3.5 23.8 10.1
Total Revenue $ 21.8 $ 32.6 $ 134.5 $ 101.2
Operating income decreased 30%, or $3.7 million, to $8.8 million reflecting the decrease in revenue (as described above) partially offset by a decrease in
operating expenses. The decrease in operating expenses was primarily driven by lower eCommerce expenses in connection with the transition of our
digital retail platform to Fanatics (as described above).
Adjusted OIBDA decreased 27%, or $3.5 million, to $9.4 million.
Full Year 2022
Revenue increased 33%, or $33.3 million, to $134.5 million, primarily due to an increase in licensing and venue merchandise revenue. The increase in
licensing revenue primarily related to growth in collectibles revenue as well as higher sales of licensed video games, including our franchise game WWE
2K22. The increase in venue merchandise revenue was primarily due to the return to a full year of ticketed live events. eCommerce revenue decreased due
to difficult comparisons to elevated Covid-related sales in 2021 as well as the accounting treatment related to the transition of our digital retail platform to
Fanatics (asdiscussed above).
Operating income increased 61%, or $20.6 million, to $54.4 million, as the increase in revenue (as described above) was partially offset by an increase in
operating expenses. The increase in operating expenses was primarily driven by an increase in variable costs associated with the sales activity.
Adjusted OIBDA increased 59%, or $21.1 million, to $56.6 million.
2023 Business Outlook
The Company is targeting Adjusted OIBDA of $395 - $410 million for the full year 2023, which would be another all-time record result. The Company also
expects to generate another year of all-time record revenue in 2023. This anticipated performance reflects an expected increase in media rights fees for
the Company’s flagship weekly programming and premium live events, as well as a full live events touring schedule, including two large-scale
international events, and an increase in advertising and sponsorship revenues. The Company anticipates that 2023 operating expenses will be relatively
flat as an increase in costs to support the creation of content are offset by a decline in third-party original programming expenses, due to the timing of the
production of premium WWE-themed series and specials, as well as a decline in eCommerce expenses as a result of the transition of the Company’s
digital retail platform to Fanatics.
Management believes WWE is well positioned to capitalize on significant future opportunities. In 2023, key initiatives that could have meaningful
implications on the Company’s performance include the renewal of the domestic licensing agreement for NXT, the renewal of licensing agreements for
WWE content in certain international markets, the monetization of new third-party original programming, growth in advertising and sponsorship sales,
and the performance of the latest installment of the Company’s flagship video game franchise, WWE 2K23.
Providing perspective on WWE’s targeted revenue growth and Adjusted OIBDA outlook, Mr. Riddick commented, “We continue to believe that WWE has
significant long-term growth opportunities and is well positioned, particularly given our substantial cash and capital resources, to deliver on its strategic
initiatives. In 2023, we will continue to evaluate our financial performance, balancing Adjusted OIBDA growth with increased investment that will support
our ability to deliver appealing content, strengthen our engagement with a broadening audience, and drive long-term shareholder value.”
2023 Capital Expenditures Outlook
For 2023, the Company estimates total capital expenditures of $150 - $170 million, including $105 - $120 million related to its previously disclosed new
headquarter facility, with the remainder primarily related to the maintenance and enhancement of existing production and enterprise technology
infrastructure. In 2023, the Company expects to complete the build out of its new headquarter facility. The Company expects total capital expenditures to
be approximately 4% - 5% of revenue once the build out of the new headquarters has been completed.
First Quarter 2023 Business Outlook
The Company estimates first quarter 2023 Adjusted OIBDA of $65 - $75 million. The estimate primarily reflects a shift in the timing of the staging of a
large-scale international event, which occurred in the first quarter of 2022 but is expected to occur in the second quarter of 2023. Revenue is expected to
decline year-over-year as increases related to the contractual escalation of media rights fees for the Company’s flagship weekly programming, Raw and
SmackDown, are offset by the absence of the large-scale international event.
Strategic Alternatives Review Process
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The definition of Adjusted OIBDA can be found in the Non-GAAP Measures section of the release on page 10. A reconciliation of three and twelve-month
periods ended December 31, 2022 and 2021 Operating Income to Adjusted OIBDA can be found in the Supplemental Information in this release on page 17.
The Company’s business model and expected results will continue to be subject to significant execution and other risks, including, without limitation, risks
relating to the Special Committee investigation and related matters noted above; the impact of COVID-19 on WWE’s business, results of operations and
financial condition; entering, maintaining and renewing major distribution agreements; WWE Network; uncertainties associated with international markets and
risks inherent in large live events, and other risk factors disclosed in our annual report on Form 10-K for the year ended December 31, 2022. In addition, WWE is
unable to provide a reconciliation of first quarter or full year 2023 guidance to GAAP measures as, at this time, WWE cannot accurately determine all of the
adjustments that would be required. See Supplemental Information in this release on page 18.
A reconciliation of three and twelve-month periods ended December 31, 2022 and 2021 Free Cash Flow to Net cash provided by operating activities can be
found in the Supplemental Information in this release on page 19.
As previously disclosed, Vincent K. McMahon, the Company’s Executive Chairman and shareholder with a controlling interest, in cooperation with
WWE’s management team and Board of Directors, announced the intent to undertake a review of strategic alternatives with the goal of maximizing value
for all WWE shareholders. There can be no assurances given regarding the outcome or timing of this strategic alternatives review process.
Special Committee Investigation and Related Matters
As previously announced, a Special Committee of independent members of the Board of Directors was formed to investigate alleged misconduct by
Vincent K. McMahon and another executive, who is no longer with the Company. In November 2022, the Company disclosed that the Special Committee
investigation had been completed and the Special Committee had been disbanded. For the three and twelve-month periods ended December 31, 2022, the
Company’s consolidated pre-tax results included the impact of $2.3 million and $21.7 million, respectively, of expenses related to the Special Committee
investigation. Mr. McMahon has agreed to reimburse the Company for reasonable expenses related to the Special Committee investigation, net of any
insurance proceeds. For the three and twelve-month periods ended December 31, 2022, the Company’s consolidated pre-tax results also included the
impact of $7.4 million of expenses reflecting certain payments that Mr. McMahon has agreed to make (including amounts paid and payable in the future).
The $7.4 million of payments were or will be paid by Mr. McMahon personally. Please see the Company’s SEC filings, including, but not limited to, its
annual report on Form 10-K/A and Form 10-K and quarterly reports on Form 10-Q/A and Form 10-Q for further details and ongoing risks regarding this
matter.
Other Matters
For the three-month period ended December 31, 2021, the Company’s consolidated pre-tax results included the impact of a $6.7 million gain from the
reduction of leased space as part of an amendment to its new Stamford headquarters lease. For the twelve-month period ended December 31, 2021, the
Company’s consolidated pre-tax results included $8.1 million in severance expense recorded in the second quarter of 2021 associated with the
combination of WWE’s television, digital and studios teams into one organization. A reconciliation of Net Income to Adjusted Net Income for the three
and twelve-month periods ended December 31, 2022 and 2021 can be found in the supplemental schedule on page 16 of this release.
Notes
Non-GAAP Measures
The Company defines Adjusted OIBDA as operating income excluding depreciation and amortization, stock-based compensation expense, certain
impairment charges and other non-recurring items that management deems would impact the comparability of results between periods. Adjusted OIBDA
includes amortization and depreciation expenses directly related to supporting the operations of our segments, including content production asset
amortization, depreciation and amortization of costs related to content delivery and technology assets utilized for the WWE Network, as well as
amortization of right-of-use assets related to finance leases of equipment used to produce and broadcast our live events. The Company believes the
presentation of Adjusted OIBDA is relevant and useful for investors because it allows them to view the Company’s segment performance in the same
manner as the primary method used by management to evaluate segment performance and to make decisions regarding the allocation of resources.
Additionally, the Company believes that Adjusted OIBDA is a primary measure used by media investors, analysts and peers for comparative purposes.
Adjusted OIBDA is a non-GAAP financial measure and may be different from similarly titled non-GAAP financial measures used by other companies.
WWE views operating income as the most directly comparable GAAP measure. Adjusted OIBDA (and other non-GAAP measures such as Adjusted
Operating Income, Adjusted Net Income and Adjusted EPS which are defined as the GAAP measures excluding certain nonrecurring, material
items that impact the comparability between periods) should not be considered in isolation from, or as a substitute for, operating income, net income, EPS
or other GAAP measures, such as operating cash flow, as an indicator of operating performance or liquidity.
The Company defines Free Cash Flow as net cash provided by operating activities less cash used for capital expenditures. WWE views net cash
provided by operating activities as the most directly comparable GAAP measure. Although it is not a recognized measure of liquidity under U.S. GAAP,
Free Cash Flow provides useful information regarding the amount of cash WWE’s continuing business generates after capital expenditures and is
available for reinvesting in the business, debt service, share repurchases and payment of dividends.
Additional Information
(1)
(2)
(3)
Additional business metrics are made available to investors on the corporate website - corporate.wwe.com/investors. Note: As previously announced
WWE will host a conference call at 5:00 p.m. ET on February 2, 2023, to discuss the Company's earnings results for the fourth quarter and full year ended
2022. All interested parties are welcome to listen to a live web cast that will be hosted through the Company’s website at corporate.wwe.com/investors.
Participants can access the conference call by dialing 1-855-200-4993 (toll free) or 1-323-794-2092 from outside the U.S. (conference ID for both lines:
3707267). Please reserve a line 5-10 minutes prior to the start time of the conference call.
The earnings presentation referenced during the call will be made available on February 2, 2023, at corporate.wwe.com/investors. A replay of the call will
be available approximately two hours after the conference call concludes and can be accessed on the Company’s website.
About WWE
WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company
consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly
entertainment on its television programming, premium live events, digital media, and publishing platforms. WWE’s TV-PG programming can be seen in
more than 1 billion homes worldwide in 25 languages through world-class distribution partners including NBCUniversal, FOX Sports, BT Sport, Sony
India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video-on-demand library
and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE
Network.
Additional information on WWE can be found at wwe.com and corporate.wwe.com.
Trademarks: All WWE programming, talent names, images, likenesses, slogans, wrestling moves, trademarks, logos and copyrights are the exclusive
property of WWE and its subsidiaries. All other trademarks, logos and copyrights are the property of their respective owners.
Forward-Looking Statements: This press release contains, and oral statements made from time to time by our representatives may contain, forwardlooking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Forward looking statements include statements
regarding our outlook regarding future financial results, the impact of recent changes to management and our board of directors (the “Board”); the timing
and outcome of the Company’s media and other rights negotiations including major domestic programming licenses expected to be negotiated in 2023;
the Company’s review of strategic alternatives; our plans to remediate identified material weaknesses in our disclosure control and procedures and our
internal control over financial reporting; and regulatory, investigative or enforcement inquiries, subpoenas or demands arising from, related to, or in
connection with these matters. The words “may,” “will,” “could,” “anticipate,” “plan,” “continue,” “project,” “intend,” “estimate,” “believe,” “expect,” “outlook,”
“target,” “goal,” “guidance” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements
contain such words. These statements relate to future possible events, as well as our plans, objectives, expectations and intentions and are not historical
facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results or the performance by us
to be materially different from expected future results or performance expressed or implied by any forward-looking statements.
These forward-looking statements are subject to uncertainties relating to, without limitation, the impact of actions by Mr. McMahon (who has a
controlling interest in the Company due to his ownership of a substantial majority of our Class B common stock and whose interests could conflict with
those of our Class A common stockholders) which could have adverse financial and operational impacts.
The following additional factors, among others, could cause actual results to differ materially from those contained in forward-looking statements:
COVID-19, which may continue to affect negatively world economies as well as our industry, business and results of operations; a rapidly evolving and
highly competitive media landscape; WWE Network; computer systems, content delivery and online operations of our Company and our business
partners; privacy norms and regulations; our need to continue to develop creative and entertaining programs and events; our need to retain and continue
to recruit key performers; the possibility of a decline in the popularity of our brand of sports entertainment; possible adverse changes in the regulatory
atmosphere and related private sector initiatives; the highly competitive, rapidly changing and increasingly fragmented nature of the markets in which
we operate and/or our inability to compete effectively, especially against competitors with greater financial resources or marketplace presence;
uncertainties associated with international markets including possible disruptions and reputational risks; our difficulty or inability to promote and
conduct our live events and/or other businesses if we do not comply with applicable regulations; our dependence on our intellectual property rights, our
need to protect those rights, and the risks of our infringement of others’ intellectual property rights; potential substantial liability in the event of accidents
or injuries occurring during our physically demanding events; large public events as well as travel to and from such events; our expansion into new or
complementary businesses, strategic investments and/or acquisitions; our accounts receivable; the construction and move to our new leased corporate
and media production headquarters; litigation and other actions, investigations or proceedings; a change in the tax laws of key jurisdictions; inflationary
pressures and interest rate changes; our indebtedness including our convertible notes; our potential failure to meet market expectations for our financial
performance; our share repurchase program; a substantial number of shares are eligible for sale by the McMahons and the sale, or the perception of
possible sales, of those shares could cause our stock price to decline; and the volatility in trading prices of our Class A common stock. In addition, our
dividend and share repurchases are dependent on a number of factors, including, among other things, our liquidity and historical and projected cash flow,
strategic plan (including alternative uses of capital), our financial results and condition, contractual and legal restrictions, general economic and
competitive conditions and such other factors as our Board may consider relevant.
World Wrestling Entertainment, Inc.
Consolidated Income Statements
(In millions, except per share data)
(Unaudited)
Three Months Ended Year Ended
December 31, December 31,
2022 2021 2022 2021
Net revenues $ 325.3 $ 310.3 $ 1,291.5 $ 1,095.2
Operating expenses 186.4 171.0 730.6 608.2
Marketing and selling expenses 20.4 16.6 78.9 69.3
General and administrative expenses 46.9 33.0 161.4 120.8
Depreciation and amortization 8.9 9.1 37.3 40.9
Operating income 62.7 80.6 283.3 256.0
Interest expense 4.8 8.1 21.2 33.6
Other income, net 2.3 6.8 2.3 7.5
Income before income taxes 60.2 79.3 264.4 229.9
Provision for income taxes 21.4 18.4 68.8 52.5
Net income $ 38.8 $ 60.9 $ 195.6 $ 177.4
Earnings per share:
Basic $ 0.52 $ 0.78 $ 2.63 $ 2.33
Diluted $ 0.45 $ 0.73 $ 2.29 $ 2.09
Weighted average common shares outstanding:
Basic 74.4 77.8 74.5 76.3
Diluted 88.7 83.7.
02/02/2023
Fourth Quarter 2022 Highlights
Revenue was $325.3 million, an increase of 5%; Operating income was $62.7 million, a decrease of 22%; and Adjusted OIBDA was $90.2 million, a
decrease of 4%
Returned $8.9 million of capital to shareholders through dividend payments
Crown Jewel was the most viewed international event in WWE’s history. Domestic unique viewership on Peacock increased 70% over the prior year
event
Each WWE domestic premium live event (Extreme Rules and Survivor Series) was the most viewed event in its history with year-over-year increases of
36% and 46%, respectively, in domestic unique viewership
WWE announced a multi-year extension of its partnership with MultiChoice to expand the distribution of the Company’s content in Sub-Saharan Africa
In January 2023, WWE held Royal Rumble at the Alamodome in San Antonio, TX. The event was the most viewed Royal Rumble in WWE’s history, with
a 52% year-over-year increase in domestic unique viewership, and generated the highest gate in the event’s history
Full Year 2022 Highlights
Revenue increased 18% to $1.3 billion, the highest in the Company’s history
Operating income increased 11% to a record $283.3 million
Adjusted OIBDA increased 19% to a record $384.6 million
Returned $75.7 million of capital to shareholders, including share repurchases and dividends paid
2023 Business Outlook
The Company is targeting Adjusted OIBDA of $395 to $410 million for the full year 2023, which would be an all-time record. The Company also expects
to generate an all-time record for revenue in 2023.
STAMFORD, Conn.--(BUSINESS WIRE)-- WWE (NYSE: WWE) today announced financial results for its fourth quarter and year ended December 31, 2022.
“2022 was another strong year for WWE. We generated record financial results and our business continued to perform well due to the strength of our
content and brand, which drove audience engagement and monetization across multiple platforms,” said Nick Khan, WWE Chief Executive Officer. “In
2023, we’re focused on continuing to execute on our key operational initiatives, such as the domestic licensing of our flagship programs, Raw and
SmackDown, as well as the international licensing of our content in key markets. At the same time, we’re focused on the review of strategic alternatives
that we announced earlier this year, with the goal of maximizing value for all shareholders.”
Frank Riddick, WWE President & Chief Financial Officer, added, “For the year, we achieved record revenue and Adjusted OIBDA, which was at the very
high end of our upwardly revised guidance range. In 2022, Adjusted OIBDA increased 19% reflecting 18% revenue growth. Our financial performance was
primarily driven by the return to a full year of ticketed live events, including the staging of two large-scale international events, as well as the contractual
escalation of rights fees for our flagship weekly programming and premium live events. In 2023, we anticipate Adjusted OIBDA of $395 to $410 million,
reflecting continued revenue growth and relatively flat operating expenses.”
Fourth-Quarter Consolidated Results
Revenue increased 5% to $325.3 million, primarily due to an increase in network revenues related to the timing of premium live events as well as higher
monetization of third-party original programming. These increases were partially offset by a decline in consumer products licensing and eCommerce
revenue. Results also included the staging of a large-scale international event in both the current and prior year periods.
1
2
Operating Income decreased 22%, or $17.9 million, to $62.7 million, as the increase in revenue was offset by an increase in operating expenses. The
increase in operating expenses was primarily driven by higher costs to support the creation of content. To a lesser extent, costs associated with the
Special Committee investigation and related matters as well as higher stock compensation expense also contributed to the increase in operating
expenses. (See the “Special Committee Investigation and Related Matters” discussion for further details.) The Company’s operating income margin
decreased to 19% from 26%.
Adjusted OIBDA decreased 4% to $90.2 million. The Company’s Adjusted OIBDA margin decreased to 28% from 30%.
Net Income was $38.8 million, or $0.45 per diluted share, a decrease from $60.9 million, or $0.73 per diluted share, primarily reflecting the decrease in
operating performance.
Cash flows generated by operating activities were $120.3 million, an increase from $46.6 million, as lower net income was more than offset by the
favorable timing of collections associated with the Company’s large-scale international events.
Free Cash Flow was $43.0 million, an increase from $31.8 million, as the increase in cash flow generated by operating activities was partially offset by
an increase in capital expenditures. For the three months ended December 31, 2022, the Company incurred $71.7 million of capital expenditures related to
its new headquarter facility. Excluding the capital expenditures related to the new headquarter facility, Free Cash Flow for the three months ended
December 31, 2022 was $114.7 million.
Return of Capital to Shareholders
The Company returned $8.9 million of capital to shareholders in dividends in the fourth quarter of 2022. There were no share repurchases under the
Company’s existing stock repurchase program.
Full Year 2022 Consolidated Results
Revenue increased 18%, or $196.3 million, to $1.3 billion, primarily due to the increased monetization of content, the return to a full year of ticketed live
events and the staging of an additional large-scale international event in 2022.
Operating Income increased 11%, or $27.3 million, to $283.3 million, as the increase in revenue was partially offset by an increase in operating expenses.
The increase in operating expenses was primarily driven by higher costs to support the creation of content as well as the impact of certain costs
associated with the Special Committee investigation and related matters. (See the “Special Committee Investigation and Related Matters” discussion for
further details.) The Company’s operating income margin decreased to 22% from 23%.
Adjusted OIBDA increased 19%, or $60.5 million, to $384.6 million. The Company’s Adjusted OIBDA margin remained flat at 30%.
Net Income increased to $195.6 million, or $2.29 per diluted share, from $177.4 million, or $2.09 per diluted share, primarily reflecting the increase in
operating performance. The results for 2022 also reflected a decrease in interest expense partially offset by an increase in income taxes.
Cash flows generated by operating activities were $325.6 million, an increase from $182.9 million, primarily due to the timing of collections
associated with the Company’s large-scale international events and WWE Network, as well as improved operating performance.
Free Cash Flow was $125.7 million, a decrease from $143.7 million, as the increase in cash flows generated by operating activities was offset by an
increase in capital expenditures. For the twelve months ended December 31, 2022, the Company incurred $170.6 million of capital expenditures related to
its new headquarter facility. Excluding the capital expenditures related to the new headquarter facility, Free Cash Flow for the twelve months ended
December 31, 2022 was $296.3 million.
Cash, cash equivalents and short-term investments were $478.7 million as of December 31, 2022. The Company currently estimates debt
capacity under its revolving line of credit of $200 million.
Return of Capital to Shareholders
The Company returned $75.7 million to shareholders in 2022, including $40.0 million in share repurchases and $35.7 million in dividends paid. Under
the Company’s existing stock repurchase program, approximately 5.3 million shares have been repurchased to-date at an average price of $54.09 per
share. As of December 31, 2022, the Company had $211 million available under its existing $500 million stock repurchase authorization.
Results by Operating Segment
The schedule below reflects WWE’s performance by operating segment (in million):
3
Three Months Ended.
Samoan SWAT Team vs The Mane Event Saturday in Philly at MLW SuperFightMLW returns to Philly Feb 4 with a national cable TV taping |
 |
(PHILADELPHIA) — Major League Wrestling today announced The Samoan SWAT Team vs. The Mane Event at MLW SuperFight’23 this Saturday, February 4 at the 2300 Arena in Philadelphia.
 Tickets start at $15 at MLW2300.com and the 2300 Arena box office. From the Big Top, a ringleader (Midas Black) and his trusty circus lion (Jay Lyon) have barnstormed throughout wrestling delivering “The Greatest Show in Professional Wrestling”. Now, the duo known as the Mane Event look to plant their tentpoles in Major League Wrestling.
Now these ringmasters look to bring their unique brand of carnival combat to MLW and do so with audacious splash as they square off with the Samoan SWAT TEAM.
Undefeated since debuting last spring in MLW, Lance Anoa’i and Juicy Finau have decimated all tag teams in the division. With MLW’s open door policy in full effect, the SST welcome a rumble with Mane Event.
Can the Mane Event juggle the ferocity of the SST?
Find out LIVE Saturday night, February 4th at MLW SuperFight’23 in Philadelphia! |
Major League Wrestling returns to Philadelphia's 2300 Arena on Saturday, February 4. Buy tickets at http://MLW2300.com.
CARD:
World Heavyweight Championship
Alex Hammerstone (Champion) vs. Jacob Fatu
Lio Rush vs. Davey Richards
DUMPSTER MATCH!
Real1 vs. Mance Warner vs. Microman vs. ?
John Hennigan vs. Willie Mack
NO ROPES CATCH WRESTLING MATCH! Davey Boy Smith Jr. vs. Alex Kane (with Mr. Thomas)
DRAGONGATE Open the Twin Gate Championship Match
Big Boss Shimizu & Kzy The FBI
World Featherweight Championship
Taya Valkyrie (champion) vs. Billie Starkz
HARDCORE MATCH! Rickey Shane Page vs. 1 Called Manders
World Middleweight Championship
Lince Dorado (champion) vs. Delirious
Calvin Tankman vs. AKIRA
Samoan SWAT Team vs. The Mane Event
B3CCA vs. Delmi Exo
Sam Adonis vs. La Estrella
Buy tickets at MLW2300.com. Tickets start at $15. Tickets will also be available day of show at the box office unless the event sales out in advance.
DAY OF EVENT INFO
The schedule is as follows:
6:00 p.m.: Early entry for First Row Ticket Holders
6:30 p.m.: Doors open for general public (all ticket holders)
7:30 p.m.: Showtime
MORE ABOUT THE VENUE
2300 Arena (previously named Viking Hall, ECW Arena, New Alhambra Arena, Asylum Arena and The Arena) is a multipurpose indoor arena used primarily for professional wrestling, boxing, mixed martial arts, and concert events. |
About Major League Wrestling Major League Wrestling (MLW®) is a sports media holding company, offering television content, action figures, apparel, live events, and ancillary entertainment. MLW operates live events in major markets throughout the United States and Mexico, including New York, Philadelphia, Dallas, and Tijuana.
One of the fastest growing wrestling leagues today, MLW programming is available in over 60 countries worldwide, including its new flagship series MLW Underground Wrestling on REELZ in the United States airing Tuesdays at 10pm ET / 7pm PT; and MLW Fusion on Pro Wrestling TV in the U.S. and Ayozat TV on SKY in the United Kingdom.
MLW events showcase diversity and the full spectrum of professional wrestling, with athletes representing countries around the world with fighting styles, including: technical, Japanese strong style, lucha libre, King’s Road brawling, MMA, catch wrestling, hybrid wrestling, submission grappling and other disciplines.
For more information visit MLW.com and follow MLW on Twitter, Instagram and Facebook.
Sam Adonis vs. La Estrella this Saturday in Philly at MLW SuperFightMLW returns to Philly Feb 4 with a national cable TV taping |  | (PHILADELPHIA) — Major League Wrestling today announced Sam Adonis vs. La Estrella at MLW SuperFight’23 this Saturday, February 4 at the 2300 Arena in Philadelphia.
Tickets start at $15 at MLW2300.com and the 2300 Arena box office.
DRAGONGATE’s La Estrella will face the undefeated Sam Adonis in what promises to be a fascinating showcase of DRAGONTATE’s brand of lucharesu vs. Adonis’ lucha.
Adonis, who made his MLW debut this past fall looks to continue his undefeated streak as he collides with the acrobatic aerial attacks of Estrella.
For La Estrella, this match is a critical turning point in his excursion to MLW. A win against Adonis, a perennial main eventer in Mexico and dominant force in MLW, would cement La Estrella’s reputation and earn him immense respect back in his Kobe, Japan homebase.
Meanwhile, Adonis looks to continue to showcase to league officials that he is fast-climbing challenger for gold. A high-profile inter-promotional win would pad his case to enter MLW’s top 10 rankings.
Will Estrella emerge victorious or will Adonis annihilate yet another competitor in an MLW ring?
Find out LIVE Saturday night, February 4th at MLW SuperFight’23 in Philadelphia! | Major League Wrestling returns to Philadelphia's 2300 Arena on Saturday, February 4. Buy tickets at http://MLW2300.com.
B3CCA vs. Delmi Exo this Saturday in Philly at MLW SuperFightMLW returns to Philly Feb 4 with a national cable TV taping |  | (PHILADELPHIA) — Major League Wrestling today announced a Delmi Exo vs. B3CCA at MLW SuperFight’23 on Saturday, February 4 at the 2300 Arena in Philadelphia.
Tickets start at $15 at MLW2300.com and the 2300 Arena box office.
After Cesar Duran’s matchmaking macinations with league officials, MLW can confirm Delmi Exo will square off against another brilliant New England grappler in B3CCA.
Exo, made her MLW debut in 2021 as a part of the popular sister tag team Sea Stars, was originally slated to challenge for her first world title. Now, the 7-year veteran looks to make a tidal wave by fighting B3CCA and setting up the title fight once promised to her for SuperFight.
Standing in Delmi’s way is an impressive emerging force of a new generation of wrestlers out of the New England area in B3CCA. Igniting roars from the fans with her breathtaking 450 splash, B3CCA has quickly captured the attention of promoters around the world.
With a depth of experience, having trained with some of the best around the world, B3CCA now enters MLW looking to win her first world championship… while Delmi Exo fights for what was taken from her: a shot at her lifelong dream of challenging for the world title.
Will Delmi make a statement and punch her ticket to being at the front of the line for a title shot? Will B3CCA win big in her debut?
Find out LIVE Saturday night, February 4th at MLW SuperFight’23 in Philadelphia! | Major League Wrestling returns to Philadelphia's 2300 Arena on Saturday, February 4. Buy tickets at http://MLW2300.com.
Taya Valkyrie vs. Billie Starkz for World Featherweight Title Feb 4 in Philly at MLW SuperFightMLW returns to Philly Feb 4 with a national cable TV taping |  | (PHILADELPHIA) — Major League Wrestling today announced a World Featherweight Championship bout: Taya Valkyrie (champion) vs. Billie Starkz at MLW SuperFight’23 on Saturday, February 4 at the 2300 Arena in Philadelphia.
Tickets start at $15 at MLW2300.com and the 2300 Arena box office.
AZTECA Lucha promoter Cesar Duran is once again living up to his reputation as a cunning powerbroker, having orchestrated a change in this Saturday’s World Featherweight title fight.
The reasons behind the matchmaking machinations remains unclear, however, Duran met behind closed doors with league officials and ultimately got what he wanted: a remixed line-up for this Saturday’s SuperFight card in Philadelphia.
The World Featherweight Champion Taya Valkyrie will now defend her title against Billie Starkz.
Starkz, whose star is rising seemingly higher and higher with each outing, is one of wrestling’s most promising up-and-coming competitors.
There are whispers that there’s been static between the champ and the teenage phenom. MLW.com confirmed a recent verbal exchange at an MLW event between the two.
A standout star on the midwest independent circuit, Starkz is already 4-year veteran of the squared circle, having debuted in her mid-teens. Fresh off her first tour of Japan, Starkz’s momentum will be at an all-time high as the Louisville native fights for her first world title.
Meanwhile, Delmi Exo, who many found to be a “significant threat” to Taya’s title reign, is protesting the remixed line-up. League officials are expected to announce her new opponent later today.
Will Taya trounce another pretender to the throne? Will Billie become the youngest world champion in MLW history?
Calvin Tankman vs. AKIRA!Feb 4 in Philly at MLW SuperFightMLW returns to Philly Feb 4 with a national cable TV taping |  | (PHILADELPHIA) — Major League Wrestling today announced Calvin Tankman vs. AKIRA at MLW SuperFight’23 on Saturday, February 4 at the 2300 Arena in Philadelphia.
Tickets start at $15 at MLW2300.com and the 2300 Arena box office.
What happens when “The Death Fighter” AKIRA and “Heavyweight Hustle” Calvin Tankman collide in the cathedral of violence that is the 2300 Arena?
A division 1 recruited football player and MMA practitioner, Tankman is a decorated MLW grappler. Pressing the action with his strength, unexpected aerial attacks and rapid- striking and submissions, Tankman welcomes the challenge and complexities of what AKIRA brings to the squared circle.
AKIRA is a new breed of fighter.
Marrying Catch Wrestling and the Deathmatch fighting style, a seemingly unholy matrimony, AKIRA has brought together Inokiism and the crazy deathmatch stigmata of Jun Kasai. He calls this dangerous blend of fighting “CATCH x DEATH”.
On a blood-splattered journey of violence and education, AKIRA has traveled to every corner of combat sports, from the world of glass and barbed wire to battling in martial arts and catch-as-catch-can. Earning an underground rep for being a dangerous combatant with an unusual ability to endure pain and convert it into momentum to triumph in battle, AKIRA is 1000% fearless.
AKIRA’s goal is to become the best in the world, defy those that held him back, and showcase a new era of fighter with a new way. The AKIRA way.
Tipping the scales at 355 pounds, Tankman predicts the heavyweight hustle will steamroll over the AKIRA. Tankman wants the money, the championships, the respect… and will get it by any means. “The Death Fighter” AKIRA welcomes this challenge.
Find out LIVE Saturday night, February 4th at MLW SuperFight’23 in Philadelphia! | Major League Wrestling returns to Philadelphia's 2300 Arena on Saturday, February 4. Buy tickets at http://MLW2300.com.
Natural Vibes vs. FBI for DRAGONGATE Twin Gate Championship Feb 4 in Philly at MLW SuperFightMLW returns to Philly Feb 4 with a national cable TV taping |  | (PHILADELPHIA) — Major League Wrestling today announced a DRAGONGATE Twin Gate Championship match: champions Natural Vibes (Kzy & Big Boss Shimizu) vs. The FBI at MLW SuperFight’23 on Saturday, February 4 at the 2300 Arena in Philadelphia.
Tickets start at $15 at MLW2300.com and the 2300 Arena box office.
FBI capo Little Guido has strong-armed league officials into an inter-promotional championship bout as Guido and his cousin Ray Jaz, collectively known as the Full Blooded Italians, battle the DRAGONGATE Twin Gate Champions Natural Vibes for their belts!
With 2 reigns as an ECW World Tag Team Champion and background fighting in the UWFi, Guido is tough as nails and knows a thing or two about extreme environments.
Now the technical Italiano and his cousin, an accomplished amateur, Ray Jaz, a decorated NCAA All-American wrestler, look to get the respect they demand by taking the DRAGONGATE’s tag team titles (known as the Open The Twin Gate Championship) at SuperFight.
However, to do so, they’ll have to outwrestle two of the best in tag team wrestling in Natural Vibes.
Consisting of Kzy and Big Boss Shimizu, Natural Vibes popped up on the MLW video wall at Blood & Thunder revealing they will be making their MLW debut February 4th in grand fashion with a title defense.
Getting crowds hyped with Kzy’s rapping and the Natural Vibes’ popular dancing en route to the ring, Natural Vibes may be the most popular unit in DRAGONGATE today. Upbeat, confident, and oozing success, it’s hard to deny the excellence of Natural Vibes.
Rapping in Japanese to the ring, Kzy (pronounced as “kay-zee”), Kzy shows his love for hip hop in everything he does. While entertaining, Kzy is a threat on the ground with moves like the Ganjigarame (Arm trap cobra clutch) as well as in the air, with his brilliant frog splash.
Considered the leader of Natural Vibes, Kzy, is the veteran of the team, having debuted in 2006 and known for his leadership, making him the perfect counter for the outrageousness of Big Boss Shimizu.
Once a protégé of CIMA, powerhouse wrestler Big Boss is the heavy hitter for the Natural Vibes faction. Anchoring a staggering six championship teams in DRAGONGATE, Big Boss is a signature tag team competitor. Look for Big Boss to unleash destruction as he hopes to deploy his marquee Shotput Slam (variation of a running chokeslam) or Big Boss Bomb on the FBI February 4th.
While known for his devastation, Big Boss has a fun side, known for his humor and multi-colored hair. With their goal of one day being champions and fighting around the world, now their dream is realized as they defend `their tag team champion stateside in MLW for the first-time ever.
Will the FBI bring gold back to the familia or will the Natural Vibes make history and successfully defend their DRAGONGATE Twin Gate Championship? Find out LIVE Saturday night, February 4th at MLW SuperFight’23 in Philadelphia!
No Ropes Catch Wrestling Match: Davey Boy Smith Jr. vs. Alex Kane Feb 4 in Philly at MLW SuperFightMLW returns to Philly Feb 4 with a national cable TV taping |  | (PHILADELPHIA) — Major League Wrestling today announced a NO ROPES Catch Wrestling Match: Davey Boy Smith Jr. vs. Alex Kane (with Mr. Thomas) at MLW SuperFight’23 on Saturday, February 4 at the 2300 Arena in Philadelphia.
Tickets start at $15 at MLW2300.com and the 2300 Arena box office.
The first-ever NO ROPES Catch Wrestling Match in MLW history goes down next Saturday in South Philadelphia as Davey Boy Smith Jr. collides with the captain of the BOMAYE Fight Club, Alex Kane.
The ring ropes will come down as two of the best pound-for-pound grapplers square off in a catch-as-catch-can clash for the ages.
The true origins of MMA and No Holds Barred fighting, a no ropes catch wrestling bout has no rounds and no rules.
Noted for its brutal submission holds (“hooks”) and incorporating several English wrestling styles, catch wrestling is a violent form of combat sports. In catch wrestling, expect to see some of the most brutal tosses and suplexes ever. No wrestling holds or moves are banned, regardless of how dangerous they might be.
Catch wrestling, a grappling system and combat fighting style, was developed by J.G. Chambers in Britain in 1878. Billy Riley's Snake Pit in Wigan, produced some of the sport’s all-time greatest catch wrestlers, including Billy Robinson.
A disciple of catch wrestling, Davey Boy Smith Jr. has trained under some of the all-time greats and is considered the torch bearer for this elite fighting style. Now, the captain of the British Bulldogs challenges the braggadocios leader of the BOMAYE Fight Club to a fight unlike any other in the history of MLW.
Will the Bulldog hook a submission and make Alex Kane tap?
Will Alex Kane suplex the 3rd generation Davey Davey Boy Smith Jr. into the crowd?
Find out LIVE Saturday night, February 4th at MLW SuperFight’23 in Philadelphia!
Lince Dorado vs. Delirious Feb 4 in Philly at MLW SuperFightMLW returns to Philly Feb 4 with a national cable TV taping |  | (PHILADELPHIA) — Major League Wrestling today announced a World Middleweight Championship bout: Lince Dorado (champion) vs. Delirious at MLW SuperFight’23 on Saturday, February 4 at the 2300 Arena in Philadelphia.
Tickets start at $15 at MLW2300.com and the 2300 Arena box office.
Fresh off winning the World Middleweight Championship in a high-profile inter-promotional bout, Lince Dorado looks to get lucha lit with his first title defense at SuperFight… but is he ready for the unpredictable and deranged Delirious?
Having competed against each other in trios competition, Delirious has proven to be a challenge to the “Golden Lynx”.
Rambling and wrestling from Japan to Europe to parts unknown, Delirious thrives in creating chaos. Living on the edge of sanity, the twisted mind and tactics of Delirious have proven to be dangerous to adversaries.
Now, Delirious looks to capture first championship in MLW.
Can the newly minted World Middleweight Champion pounce his first challenger?
Will the crazed Delirious be crowned the new champion?
Find out LIVE Saturday night, February 4th at MLW SuperFight’23 in Philadelphia! | Major League Wrestling returns to Philadelphia's 2300 Arena on Saturday, February 4. Buy tickets at http://MLW2300.com.
John Hennigan vs. Willie Mack Feb 4 in Philly at MLW SuperFightMLW returns to Philly Feb 4 with a national cable TV taping |  | (PHILADELPHIA) — Major League Wrestling today announced John Hennigan vs. Willie Mack at MLW SuperFight’23 on Saturday, February 4 at the 2300 Arena in Philadelphia.
Tickets start at $15 at MLW2300.com and the 2300 Arena box office.
Both fighters come from LA, albeit different neighborhoods. Growing up in South Central LA, Willie Mack had to fight for everything his whole life. Meanwhile, across town John Hennigan has enjoyed a life of privilege.
Partying in the Hills of Hollywood with reality stars, actors, and influencers, John Hennigan has enjoyed a big spotlight and a true rockstar life. Requesting his own locker room and hairdresser, Hennigan has ruffled feathers for his loud, obnoxious entourage, flanking him wherever he turns up.
Meanwhile, Willie Mack comes from the streets where he fights to live and lives to fight. Will the power of the Mack drive “Chocolate Thunder” to victory lane or will it be the exceptional finesse (and arrogance) of John Hennigan that triumphs?
Find out LIVE Saturday night, February 4th at MLW SuperFight’23 in Philadelphia! | Major League Wrestling returns to Philadelphia's 2300 Arena on Saturday, February 4. Buy tickets at http://MLW2300.com.
MAJOR LEAGUE WRESTLING (MLW) ANNOUNCES BETONLINE.AG AS OFFICIAL SPORTSBOOK PARTNER Los Angeles–Feb. 1, 2023–Major League Wrestling (MLW) – one of the fastest growing wrestling organizations in the world – today announced worldwide online gaming leader BetOnline.ag as the title sponsor and official sportsbook partner of the league. This announcement comes on the heels of MLW’s landmark U.S. TV distribution deal with leading cable network REELZ, which will debut the new weekly flagship series MLW Underground Wrestling on Tuesday, Feb. 7 at 10 p.m. ET/7 p.m. PT, and reveal of the first-ever MLW action figures produced by BossFightShop featuring Alex Hammerstone, Killer Kross, Jacob Fatu and Mads Krugger in the past month. “Sports gaming is embedded in all forms of sports and a partner like BetOnline goes hand-in-hand with MLW and our distinct combat sports product,” said MLW CEO Court Bauer. “Just as they are a leader in the rapidly growing sports gaming space, MLW aims to lead in a time when pro wrestling has never been hotter, and we’re looking forward to all the ways this partnership will grow.” "We are extremely thrilled to partner with Major League Wrestling this season," Dave Mason, Brand Manager at BetOnline, said. "As a leading provider in the North American sports betting market, BetOnline is always eager to support initiatives that align with our product, and MLW is a burgeoning behemoth in the pro wrestling space. "BetOnline's sponsorship allows us to heavily engage with MLW's rabid fanbase, bringing new and exciting entertainment and gambling products to its growing audience. We've been offering wrestling odds to U.S. customers for more than 15 years, and we're excited to be part of MLW's trailblazing entry into the industry." ABOUT MAJOR LEAGUE WRESTLING Major League Wrestling (MLW®) is a sports media holding company, offering television content, action figures, apparel, live events, and ancillary entertainment. MLW operates live events in major markets throughout the United States and Mexico, including New York, Philadelphia, Dallas, and Tijuana. One of the fastest growing wrestling leagues today, MLW programming is available in over 60 countries worldwide, including its new flagship series MLW Underground Wrestling on REELZ in the United States airing Tuesdays at 10pm ET / 7pm PT; and MLW Fusion on Pro Wrestling TV in the U.S. and Ayozat TV on SKY in the United Kingdom. For more information visit MLW.com and follow MLW on Twitter, Instagram and Facebook. ABOUT BetOnline Established in 2001, BetOnline has become a worldwide leader in providing safe, legal and secure online gaming. The company's guiding principle is to establish long-lasting, positive relationships with its customers and within the gaming community. BetOnline features the most innovative technology and online gaming solutions for its sportsbook, casino, poker and racebook clients.
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