WWE recently held a press conference where chairman Vince McMahon and officials announced the 2019 revenue of the company. Vince McMahon said that the company reported a record-setting $960.4 million in revenue for 2019 as part of its 2019 fourth-quarter. According to WWE’s official website, the fourth quarter of 2019 saw an 18% increase compared to the fourth quarter of 2018.
Vince McMahon said that the reason behind the record-setting revenue is its expansion. WWE live programmes gather many diverse audiences across platforms and formats. Dealing with other countries and attracting people throughout the world is also essential. Vince McMahon said that the increase in WWE network subscription and overseas events have also helped the company a lot.
After the event, Vince McMahon talked about the departure of former co-presidents George Barrios and Michelle Wilson. He thanked the former officials for their contributions. Vince McMahon said that he is thankful for everything the two did for the company. He said that he was grateful to work with them.
"I am grateful for all that was accomplished during their tenure, but the Board and I decided a change was necessary as we have different views on how best to achieve our strategic priorities moving forward,” said Vince McMahon.
According to the company, the duo who served the company for almost ten years is no longer a part of the WWE Board of Directors. WWE recently released a press release which revealed that Frank A. Riddick III will work as the interim Chief Financial Officer. The release also stated that the company is searching for a permanent CFO and a Chief Revenue Officer. Riddick will report directly to WWE Chairman and CEO Vince McMahon.