WWE® (NYSE: WWE) and New Jersey Governor Phil Murphy today
announced that WrestleMania 35 generated $165.4 million in economic
impact for the New York/New Jersey region this past April,
according to a study conducted by the Enigma Research Corporation.
This marks a more than 60 percent increase from the $101.2 million
generated for WrestleMania 29 in New York and New Jersey, and the
eighth consecutive year that WrestleMania generated more than $100
million in economic impact for its host region.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20191111005389/en/
Aerial image of WrestleMania 35 at
MetLife Stadium in East Rutherford, New Jersey (Photo: Business
Wire)
Over the past 13 years, WrestleMania has generated more than
$1.3 billion in cumulative economic impact for the cities that have
hosted the event. WrestleMania 35 also generated approximately
$27.1 million in federal, state and local taxes.
“New Jersey is proud to have hosted WrestleMania 35 in April,
the fourth time our state has been host to this great event,” said
New Jersey Governor Phil Murphy. “This data underscores what we
already knew -- bringing large-scale events that draw fans from all
over the world brings significant economic benefits to our state
and the region. I thank WWE for choosing New Jersey and hope to
continue this partnership in the future.”
“We are thrilled that WrestleMania’s return to our ‘front yard’
generated a significant economic increase for our partners in New
York and New Jersey,” said John P. Saboor, WWE Executive Vice
President of Special Events. “This success would not have been
possible without the tireless support of Governor Murphy, Barclays
Center, NYC & Company, Meadowlands Chamber, New York Jets, New
York Giants and the rest of our public and private sector partners
throughout the region. We now turn our attention to next year for
what will be a historic WrestleMania debut in Tampa Bay.”
A sold-out crowd of 82,265 fans from all 50 states and 68
countries attended WWE’s pop-culture extravaganza this past April,
making it the highest-grossing entertainment event in the history
of MetLife Stadium. Key highlights from the study include:
- $165.4 million in direct, indirect and induced impact derived
from spending by visitors to the New York/New Jersey region for
WrestleMania 35.
- 52% of fans that attended WrestleMania were from outside the
New York and New Jersey region and stayed an average of 4.6
nights.
- $23.9 million was spent on hotels and accommodations within
the New York/New Jersey region.
- The economic impact derived from WrestleMania Week was equal
to the creation of 1,534 full-time jobs for the area.
- $6.6 million was spent by visitors to the region at area
restaurants.
Next year, WrestleMania 36 will take place Sunday, April 5 live
from Raymond James Stadium in Tampa Bay. Tickets are available this
Friday, November 15 at 10 AM ET through Ticketmaster. In addition,
WrestleMania Travel packages are currently available via
WrestleManiaTravel.com. The event will also be streamed live around
the world on WWE Network.
About Enigma Research
Corporation
Enigma Research Corporation is an international consulting firm
which specializes in measuring the economic impact of special
events. Enigma’s economists developed a customized model which
converted expenditures into economic impact, employment supported
and taxes generated as a result of the event.
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, pay-per-view, digital media and publishing platforms.
WWE’s TV-PG, family-friendly programming can be seen in more than
800 million homes worldwide in 25 languages. WWE Network, the
first-ever 24/7 over-the-top premium network that includes all live
pay-per-views, scheduled programming and a massive video-on-demand
library, is currently available in more than 180 countries. The
Company is headquartered in Stamford, Conn., with offices in New
York, Los Angeles, London, Mexico City, Mumbai, Shanghai,
Singapore, Dubai, Munich and Tokyo.
Additional information on WWE (NYSE: WWE) can be found at
wwe.com and corporate.wwe.com. For information on our global
activities, go to http://www.wwe.com/worldwide/
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 forward-looking statements pursuant to the
safe harbor provisions of the Securities Litigation Reform Act of
1995, which are subject to various risks and uncertainties. These
risks and uncertainties include, without limitation, risks relating
to: entering, maintaining and renewing major distribution and event
agreements; WWE Network (including the risk that we are unable to
attract, retain and renew subscribers); our need to continue to
develop creative and entertaining programs and events; the
possibility of a decline in the popularity of our brand of sports
entertainment; the continued importance of key performers and the
services of Vincent K. McMahon; 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 greater financial
resources or marketplace presence of many of our competitors;
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; the complexity of our rights
agreements across distribution mechanisms and geographical areas;
potential substantial liability in the event of accidents or
injuries occurring during our physically demanding events
including, without limitation, claims alleging traumatic brain
injury; large public events as well as travel to and from such
events; our feature film business; our expansion into new or
complementary businesses and/or strategic investments; our computer
systems and online operations; privacy norms and regulations; a
possible decline in general economic conditions and disruption in
financial markets; our accounts receivable; our indebtedness
including our convertible notes; litigation; our potential failure
to meet market expectations for our financial performance, which
could adversely affect our stock; Vincent K. McMahon exercises
control over our affairs, and his interests may conflict with the
holders of our Class A common stock; 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 lower our stock
price; and the volatility of our Class A common stock. In addition,
our dividend is 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
on the payment of dividends (including under our revolving credit
facility), general economic and competitive conditions and such
other factors as our Board of Directors may consider relevant.
Forward-looking statements made by the Company speak only as of the
date made and are subject to change without any obligation on the
part of the Company to update or revise them. Undue reliance should
not be placed on these statements. For more information about risks
and uncertainties associated with the Company’s business, please
refer to the “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” and “Risk Factors” sections of
the Company’s SEC filings, including, but not limited to, our
annual report on Form 10-K and quarterly reports on Form 10-Q.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191111005389/en/
Media: Adam Hopkins WWE
203-352-8675 Adam.Hopkins@wwecorp.com
Investors: Michael Weitz
203-352-8642 Michael.Weitz@wwecorp.com
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