MUMBAI: WWE expects 70% of the sports entertainment brand’s total growth over the next several years will come from outside the US. And it will be India and China that will drive most of that global growth.
These comments were made by George A Barrios, WWE co-president and director, during an conference call after its disappointing third-quarter results.
Barrios said: “…looking out into the future over the next five to 10 years when you look at the global media and entertainment sector and the total growth in that sector and where it’s going to come from roughly we think 70% of the total growth over the next several years come from outside the US.
“…And then within that 70% it’s expected that India and China can be big drivers of that growth. So the point being is it’s something we look at and informs them our thinking about how we should think about what to do today to be able to take advantage of that opportunity whether it’s three years from now five years from now and so on.”
On the expectations for WWE’s financial performance in 2020, Barrios said: “Sitting here today we anticipate that our core content rights will drive significant growth in revenue and adjusted OIBDA in 2020.
“As the media environment continues to evolve we believe several important industry trends are likely. We expect the value of live sports content will continue to rise. We believe there will be strong growth in the media and entertainment sector and international markets especially India and China. We think brands will continue to look for sponsored properties that deliver reach and deepen fan engagement.
“And finally that digitization will accelerate enabling companies to reach a large share of the global population with their products and services. Importantly, we believe WWE is well positioned to take advantage of these industry trends and to drive strong growth into the future.
” (This) Belief is based on several key factors. First WWE’s position in the US live content ecosystem.”
Related Report
EXCLUSIVE: SPN renews WWE rights for Indian subcontinent
