But the social network’s advertising revenue grew 18.4% during the quarter.
World Wrestling Entertainment reports e-commerce sales of $7 million for the first quarter of 2007, a 43% increase compared to $4.9 million in Q1 2006.
World Wrestling Entertainment Inc. reports e-commerce sales of $7 million for the first quarter of 2007, a 43% increase compared to $4.9 million in Q1 2006. The company’s digital media segment comprises WWE.com and WWEShop.com.
World Wrestling Entertainment’s WWE.com reports digital media sales of $2.8 million for the first quarter of 2007, up 27% from $2.2 million in the same period in 2006. The growth reflects additional revenue from the site’s wireless content, which can be downloaded to cell phones. World Wrestling is No. 304 in the Internet Retailer Top 500 Guide.
Sales for WWEShop.com, the main online retail site, climbed from $2.6 million in Q1 2006 to $4 million in the same quarter in 2007. E-commerce represents 6.5% of World Wrestling Entertainment’s total Q1 revenue.
Sales at WWEShop.com were driven by a 64% increase in orders for the quarter, says Paul Giacalone, director of financial reporting. “There are more combinations of products available on the site this year. Customers can get a video at Wal-Mart, but they can get a video and a t-shirt from us,” he says.
Total sales for the first quarter ended March 31, 2007, were $107.4 million compared to $95.1 million in the same quarter last year, an increase of 13%. Net income was $15.1 million, up 59% from $9.5 million in Q1 2006.
“In addition to the increase in revenue, many of our key metrics, which illustrate the overall presence of our products in the marketplace, continued to improve. Also in the quarter, we expanded our wireless presence with an exclusive mobile content agreement with AT&T;, which will provide our fans wireless access to everything WWE,” says CEO Linda McMahon.