Financials


Total revenues for the year ended December31, 2013 were $508.0 million as compared to $484.0 million in the prior year. Operating income for 2013 was $5.9 million versus $43.2 million in the prior year. Net income was $2.8 million, or $0.04 per share, as compared to $31.4 million, or $0.42 per share, in the prior year. OIBDA was $30.4 million for the current year as compared to $63.2 million in the prior year. Revenues increased 5% to $508.0 million in 2013 driven by growth in North America, which was primarily from the licensing of new television and digital content, improved performance of our live events, and the timing of our movie releases. Revenues from outside North America declined less than 2% as lower sales of consumer products more than offset contractual increases in our international television agreements. Changes in foreign exchange rates also reduced current year revenue by approximately $1 million.

Revenues from our Live and Televised Entertainment businesses in 2013 were $382.3 million representing an increase of 8%. Revenues from our Consumer Products businesses were $76.4 million in 2013 representing a decrease of 13%. Revenues from our Digital Media related businesses were $38.5 million in 2013 representing an increase of 12%. In 2013, WWE Studios recognized revenue of $10.8 million as compared to $7.9 million in the prior year.

OIBDA in 2013 was $30.4 million in the current year as compared to $63.2 million in the prior year. The decline in OIBDA was primarily due to a reduction in profits from the Pay-Per-View business reflecting increased production costs, an increase in film impairment charges primarily associated with the Company's 2010-2012 film slate and the current year release of Dead Man Down, an increase in compensation and benefit costs, and lower results from the Company’s Home Entertainment business. These items more than offset the increased monetization of content licensing on broadcast and digital platforms and the strong performance of the Live Event business.

For more information on WWE financial results by fiscal year or quarter, please visit the Investor Relations section of our website.