ir presentation 9.21.12 final.ppt - snl2006 2009 2010 2011 ebitda margin (%) 415.3 475.2 477.7 483.9...

Investor Presentation

September 21, 2012

2

Compelling Investment

Developing transformative long‐term growth opportunitybased on:– WWE as one of the strongest commercial brands worldwide

– The rising value of content (especially content with broad appeal) & with the proliferation of distribution alternatives

Strategy focused on:– Expanding content/distribution– Accelerating international expansion

Core Competencies:• Content creation• Marketing• Distribution

Diversified businesses:• Platform• Geography

Financial strength:• Operating leverage• Low capital requirements

3

Regardless of the specific measure, statistics demonstrate that WWE is among the strongest commercial brands worldwide

Social Media Powerhouse Leader on Trendrr

72+ million Facebook fans; added nearly 3 million fans in June

More Facebook fans than: NFL, Pepsi, ESPN and NASCAR among others

John Cena has more than 12 million fans and is the #3 most followed American athlete(behind only Michael Jordan and Kobe Bryant)

28+ million Twitter followers, more than UFC,FIFA, Discovery Channel and Coca‐Cola; added nearly 2 million in June

RAW is consistently among the top cable / broadcast shows

Smackdown is the #1 cable show on Friday nights

TV Ratings Juggernaut Digital Powerhouse

RAW is consistently in the top 10 most watched shows on cable

1000th episode of RAW aired in July

Smackdown has been Syfy’smost watchedshow since 2010 debut

13+ million unique visitors every month

Over 1 billion video views on YouTube

More visitors than: Sony, Match.com, Perezhilton.com, NASCAR, and Oprah.com

Sources: Facebook and Twitter counts as of June 2012. TrendrrTV July 2011 – January 2012; based on Facebook, Twitter, Get Glue and Miso activity. ComScore 2/12. Nielsen, Primetime

• Audience measures such as social media followers, TV ratings and internet traffic, demonstrate WWE’s strong global appeal

Audience Composition Balanced Age Distribution

RAW is the most watched regularly scheduledentertainment program on primetime cableamong Latino viewers

4

WWE content is immensely popular among a broad, diversified audience

Sources: Facebook and Twitter counts as of June 2012. TrendrrTV July 2011 – January 2012; based on Facebook, Twitter, Get Glue and Miso activity. ComScore 2/12. Nielsen, Primetime

Cross Cultural

Ethnicity % of viewers Index

White 65.6% 90

Black/African‐American 18.6% 144

Hispanic Origin 21.4% 132

Other 15.7% 110

WWE’s TV appeal among key demos, adult male viewers and young boys (our future), exceeds that of other popular programming…

0

500,000

1,000,000

1321

11391056

62

528

190

Average Viewers

Men

18‐34

(000

)

Sources: Nielsen Media Research; NBA (ESPN/TNT, 10/26/10‐4/13/11); MLB (ESPN, 3/31/11‐9/28/11); NHL (Versus, 10/7/10‐4/5/11); RAW, SmackDown (12/27/10‐12/25/11), Primetime, 9/25/11‐12/25/11 Methodology: Sport networks using average audience per cable telecast. Non‐sports network using the most watched program on the respective network

0

200,000

400,000

600,000618

572

164133

90

Boys 6‐11 (000

)

5

• WWE viewership represents the combined average viewers for Raw and SmackDown

2721

10141150

13811675

1982

Females 2+ (000

)

3,000,000

2,000,000

1,000,000

0

Sources: Nielsen Media Research, Primetime, 9/25/11‐12/25/11 Methodology: Sport networks using average audience per cable telecast. Non‐sports network using the most watched program on the respective network

Average Viewers

2643

2236 2148

1392

458

949

3,000,000

2,000,000

1,000,000

0

Adults 50+

(000

)

… And, more grandparents, baby boomers and gatekeepers watch RAW and SmackDown in primetime than other popular networks

6

• WWE viewership represents the combined average viewers for Raw and SmackDown

45 49 54 58 64 69 74 80 83 88 95 99 103 108 112 116

5357

6064

6569

6970 63

7072

7980

8486

92

0

50

100

150

200

250

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Subscription Revenue Advertising Revenue

98106

158

143150

122114

138146

129

192183

178167

208198

7

While WWE delivers content with strong popular appeal, industry analysis shows that the value of content is expected to increase

Source: SNL Kagan

• The value of content, as measured by network advertising and subscription revenue is expected to increase at approximately 5% through 2016

US$ Bn

Subscription and advertising revenue earned by Domestic Networks

2005 2011

Content 45% 48%Product 19% 26%Tickets 14% 5%Media Sales 21% 21%International NA 28%

Live Events 25%

Television 27%Consumer Products 20%

Pay‐Per‐View16%

Digital Media 6%

Films/Other 6%

8

WWE’s Business model draws strengths from product and geographic diversity

Note: Graph is not to scale and for descriptive purposes only

• Increased diversification of revenue sources, as International and Consumer Product licensing revenues have grown as parts of total revenue….

2005

$350

$85

Value of content

360°monetization

2011

$500

$135

Content Products Media sales

Tickets International

Traditional (by business) Current (by product/geography)

18% 19% 20% 19%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

2006 2009 2010 2011

EBITDA margin (%)

415.3475.2 477.7 483.9

0.0100.0200.0300.0400.0500.0600.0

2006 2009 2010 2011

Revenue ($ millions)

9

Over the past five years, WWE improved EBITDA margins from 18% to 20%, while revenue increased at an average rate of 3%

• High operating leverage

• Low maintenance capital requirements

• In 2009, WWE delivered an 11% increase in earnings and improved operating margins from 16% to 19%

• In 2010 and despite economic headwinds, WWE expanded its EBITDA margin by 40 basis points

• In 2011, while developing new content and distribution platforms, our financial results were negatively impacted by our films business and our strategic decision to withhold several hours of content

Capitalize on growth opportunities . . .

With enhanced financial discipline . . .

Note: 2006‐2010 financials are as reported. 2011 as reported EBITDA results were impacted by weak film performance and the strategic decision to withhold several hours of previously licensed television content for distribution on other platforms. A “normalized” EBITDA margin, adjusting for these factors would be 19%

*

Adjusted*

Revenue1 ($ M) Profit Margin1 (%) Operating Leverage Growth Risk Capital

Intensity

Live Events and Venue Merchandise 123.0 27.4

Television 131.5 42.5

Pay‐Per‐View 78.3 52.0

Licensing 54.4 74.1

Home Video 30.4 49.7

Digital Advertising& Content Licensing 12.5 52.0

Shop 15.6 19.2

Studios 20.9 NM

10

Based on high operating leverage, the expansion of TV/Digital content has significant potential to drive growth….

Low Medium High12011 revenue breakdown shown

11

Execution of our content/distribution strategy holds tremendous potential for growth


Brand strength and distribution of content

360° monetization of current and new assets

Future Potential2005

$350

$85

Value of content

360°monetization

2011

$500

$135

Content Products Media sales Tickets International

• Transformative long‐term growth is based on:

₋ WWE’s strength as a global consumer brand

₋ The rising value of content

• The expansion of content and increased media sales are important determinants of WWE’s expected performance

12

Key Strategic initiatives target product and market growth as defined by our strategic framework

Markets/Customers

New

Platform Expansion

• New Content Initiatives,including a potential WWE Network

• New film model• M&A

• New Product Innovation• Expansion of Content

• Mexico• Brazil, Russia, India & China

•Key Partner market penetration

• Live event pricing• TV Specials• PPV pricing• Better licensing terms• Focus on costs

Existing

New

Existin

g

Prod

ucts

Geographic Expansion

ValueGlobal

InnovationDiversification

• WWE’s Key Strategic initiatives include:1) Network Launch2) Content Expansion3) Brand/Audience

Development4) Acceleration of

international growth5) Product innovation

• Conservative balance sheet – >$170 million in cash & investments and virtually no debt – and heightened financial discipline allows the Company to invest, withstand shocks and fund growth

• Diversified platform growth, both product and geographic, combined with effective cost management drives value creation

Development of Theatrical/Direct‐to‐DVD movie releases, including — Leprechaun: Origins, Co‐financed and co‐produced with Lionsgate— Marine: Homefront, Co‐financed and co‐produced with Fox — Dead Man Down, Co‐financed and co‐produced with IM Global — The Hive, Co‐financed and co‐produced with Troika Pictures

Diversification

13

2012 anticipates a dramatic expansion in content to support our long‐term growth and diversification

Retrospective Original Programming

Historical Programming

Reality Series Extension of WWE's pioneering reality series Tough Enough, such as Legend's House

Original Shortform Series

Live Original Programming

Program Type Description

Creative programs based on WWE's home entertainment and SVOD library

Nine original series, such as "Are you Serious" and "Santino's Foreign Exhange" produced for YouTube

Additional hours of in‐ring content

New series utlizing WWE's 100K hour library (e.g. WrestleMania Rewind and The Monday Night Wars)

Production of 150+ hours of compelling new content for television and digital distribution

2012 Expansion of content includes:

23.643.7 42.6 42.5

15.6

39.0 45.4 47.5

10.7

15.0 11.7 12.5

11.8

27.1 31.4 26.3

0.4

2.54.2 4.6

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

2004 2009 2010 2011

(Dollars in millions)

Live Events (Includes Venue Merch) TelevisionPay‐per‐view (Includes WWE Classics On Demand) Consumer ProductsDigital Media/Other

127.1

62.0

2004‐2011 CAGR: +11.6%135.2 133.4

38.4

82.5 80.3 76.322.4

32.1 35.6 38.7

1.2

12.5 19.4 18.6

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

2004 2009 2010 2011


Europe, Middle East & Africa (EMEA) Asia Pacific (APAC) Latin America

127.1135.2

62.0

2004‐2011 CAGR: +11.6%133.4

14

WWE has driven average revenue growth of 12% from international markets based on the expansion of TV rights fees and live events

• Approximately 28% of the Company’s revenue is generated from international sources

• Established markets include UK, France

• Developing presence in Mexico and the BRIC countries

• Top Markets:

EMEAUK, France and Germany

APACAustralia, India, Japan and South Korea

Latin AmericaMexico

Global

By Business

By Geography

Global

15

As part of our growth strategy, we are focused on developing emerging, high growth markets and accelerating our international growth

Markets with long time WWE presence

Markets recently entered by WWE

Revenu

e

Years Since WWE Entered Market1 5 10 15 20 25

France$16MM

• Historic country development cycle has been approximately 10+ years and dependent on macroeconomic conditions, infrastructure, technological capabilities and cultural tastes• In 2004 (~6 years after entering the market), WWE’s business in France generated $250K. In 2011, WWE generated ~$16M in France

China

U.K.$41MM

China$??M

BrazilRussia

WWE global adoption curve

Mexico

India

Higher

Lower

France$250K


• Integrating social media in all of our content• New toy products with Mattel – e.g Flex Force and Brawlin’ Buddies• New online games and applications• New WWE.com interactive website• New TV/Digital content retrospective original reality series and

historical programs

16

Product innovation continues to leverage WWE brand strength

Innovation

• Planned product innovations build on recent successes:

– Toy product: WWE Rumblers (introduced Spring 2011)

– TV show: Tough Enough (debuted April 2011)

– Video game: WWE All Stars (launched Q1 2011)

324.9270.3 286.0

330.2

131.4

127.8 109.4

116.7

0.0

50.0

100.0

150.0

200.0

250.0

300.0

350.0

400.0

450.0

500.0

2008 2009 2010 2011


Year

Direct and Variable expenses SG&A expenses

398.1

456.2

395.4

446.9

17

To increase efficiency, WWE has raised prices, improved commercial terms and executed broader restructuring

• In late 2008, the Company made a commitment to lower its cost base

Note: Direct and Variable expenses include Depreciation and Amortization expense

• Continue to review pricing opportunities

– Live Events: Raised live event ticket prices in 2010 and top tier prices in 2012

– Live events: Enhancing live event production value

– Pay‐per‐View: Implemented PPV price increase from $39.95 to $44.95 in 2010

• Maintain focus on cost

– Restructured organization in 2009 reducing headcount by 10%

• Evaluate better commercial terms with business partners on ongoing basis

Value

• Over the 2008 to 2010 period, WWE’s dividend represented a payout exceeding 160% of Free Cash Flow and Net Income

• In 2011, we adjusted our quarterly dividend to $0.12 (~$35mm per year) to align our payout with our earnings and cash flow. (~70% of these measures)2

71%

32%

18%

31%

0%

25%

50%

75%

100%

0‐5% 5‐10% 10‐15% 15%+

I/B/E/S EPS Growth Rate

200%

163% ’08A‐’10A Payout

Peer Median3: 30%

18

• The revised quarterly dividend of $0.12 is payable to both Class A and B shareholders (and replaces a structure with dual payouts)

• Historical Quarterly Dividend:

Q2 2003 ‐ Q1 2004 ‐ $0.04Q2 2004 ‐ Q3 2004 ‐ $0.06Q4 2004 ‐ Q3 2005 ‐ $0.12Q4 2005 ‐ Q4 2007 ‐ $0.24Q1 2008 ‐ Q1 2011 ‐ $0.36Q2 2011 ‐ current ‐ $0.12

1Data shown for companies where I/B/E/S long‐term growth rate is available; sample set includes 758 companies2Current payout based on 3 year historical FCF of approximately $50 million annually3Excludes WWE

105%

57%

33%

46%

0%

25%

50%

75%

100%

125%

0‐5% 5‐10% 10‐15% 15%+

I/B/E/S EPS Growth Rate

175%

166%

Peer Median3: 33%

Capital Structure: Our objective is to strike the right balance between returning capital to shareholders and investing in our future

Payout as % of LFCF (2008‐2010 Cumulative)

Payout as % of NI (2008‐2010 Cumulative)

WWE Free Cash Flow ($M)2008 2009 2010 Cumulative Average

Ex‐Films Free Cash Flow $18.2 $102.8 $64.6 $185.7 $61.9Films Free Cash Flow ($8.5) $8.0 ($33.0) ($33.5) ($11.2)WWE Free Cash Flow $9.7 $110.9 $31.6 $152.2 $50.7

2006 ‐ 2010

1 1

19

Strong Management Team

Name Title Years at WWE Previous ExperienceVincent K. McMahon Chairman & CEO Founder

George Barrios Chief Financial Officer 4+ NY Times, Praxair and Time Warner

Michelle D. Wilson Chief Marketing Officer 3+ USTA, XFL, NBA and Nabisco

Michael Luisi President, Studios & General Counsel

2+ Miramax Films

Stephanie McMahon EVP, Creative & Operations

11+

Kevin Dunn EVP, TV Production 21+

Paul “Triple H” Levesque

EVP, Talent Development 16+

Will Staeger EVP, Television Production

<1 Dick Clark Productions and ESPN

Casey Collins EVP, Consumer Products <1 MGA Entertainment, Lucasfilm

Eric Pankowski SVP, Creative & Development

<1 Revelle and Warner Brothers

Michael Weitz SVP, Investor Relations and FP&A

6+ Time Warner and Dun & Bradstreet

20

Key Takeaways

• Strong, global brand with passionate fan base• Attractive long‐term business and financial model

– Proven core competencies, diverse product and geographic footprint, and solid financial strength

– WWE can achieve meaningful earnings growth by creating and distributing new compelling content Power and presence of the WWE brand Proliferation of distribution alternatives is increasing the value of compelling content

• Experienced management team leading the way

• Objective: Increase shareholder value

• Compelling investment thesis based on sound fundamentals

21

Appendix

• Business profiles

22

Live Events

Operational Highlights Industry News

• 150+ Superstars and Divas under contract• Two tours – RAW and SmackDown/NXT• 6 shows per week and 300+ events annually• 200+ Domestic events and 70‐80 International events• International events have significantly higher attendance (+25%) and average ticket price (~1.5x)

• North American “Top 100 Tours” Ticket revenue was up approximately 6.3% in the 2011 while the number of tickets sold was down 2.6%• North American “Top 100 Tours” average ticket prices increased an estimated 8.8% in 2011

Financial Highlights Operating Metrics

314233 242 268 253 241

64

75 77 74 74 80

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

0

100

200

300

400

500

600

2006 2007 2008 2009 2010 2011

North American # of events International # of events

North American average attendance International average attendance

Note: Revenue and Profit Contribution in USD millions as of 2011

83.7

99.3105.7 108.8 104.6 104.7

20.728.1 31.3 34.1

27.4 28.7

0.0

20.0

40.0

60.0

80.0

100.0

120.0

2006 2007 2008 2009 2010 2011

Revenue Profit Contribution

4.6% CAGR

6.8% CAGR

23

Television


• 145 Countries/ 30 Languages• 13 million viewers/week (U.S.)• 6 hours of programs produced/week• 4 original shows – RAW, SmackDown, NXT and WWE Superstars• Contractual agreements with annual escalators• Domestic and international revenue split is approximately 2/3 and 1/3 respectively

• Global TV licensing expected to grow annually by approximately 7% through 2015• US content providers find global market attractive: cable growth, relaxed restrictions on foreign content, and growing demand from competition among distribution channels• Technology advancements (e.g., HD channels), transition from analog to digital, and platform expansion (e.g., mobile TV and IPTV) will boost market growth


• WWE programs are broadcast in 30 languages to more than 145 countries, and reach 13 million viewers in the U.S.

• RAW is the longest running weekly episodic television program in the U.S. with more original episodes than Lassie and Gunsmoke

• WWE has 2 of the top 5 longest running weekly episodic TV show by total number of episodes

0.0

1.0

2.0

3.0

4.0

5.0

2006 2007 2008 2009 2010 2011

RAW SmackDown ECW/NXT WWE Superstars

TV Ratings


85.592.4

100.7111.9

127.0

26.7 25.9 24.9

42.954.8 55.9

0.0

20.0

40.0

60.0

80.0

100.0

120.0

2006 2007 2008 2009 2010 2011


15.9% CAGR

131.59.0% CAGR

24

Pay‐Per‐View


• 13 events annually • Annual average of 4+ million buys (2008‐2011)• Suggested domestic retail price ‐WrestleManiais $54.95 and non‐WrestleMania events are $44.95• Average revenue per buy of $17+

• U.S. PPV universe is 89M homes (48m cable, 34M satellite and 7M Telco)• Domestic PPV market is expected to remain flat in 2012 and decline at 3.5% to $2.6B over a three year period• Consumer cable bill continues to average over $100 putting downward pressure on PPV buys EFInternational:• Differing levels of PPV adoption• Key growth markets include Latin America and India


5449 5201 4799 44453645 3776

19017

23541

‐14

66

12

13

14

15

16

17

‐1000

0

1000

2000

3000

4000

5000

6000

2006 2007 2008 2009 2010 2011

Current buys (000s) Prior period buys (000s) Number of events


93.6 94.3 91.4

80.070.2

78.3

52.4 50.741.6

47.539.8 40.7

0.0

20.0

40.0

60.0

80.0

100.0

120.0

2006 2007 2008 2009 2010 2011


‐3.5% CAGR

‐5.5% CAGR

25

Licensing


• 175+ Licensing Partners – Toys and Video games• Strong partnerships – Mattel and THQ• Mattel and THQ – toy and video game licenses account for approximately 2/3 of Licensing revenue• Worldwide licensing program to create products featuring our marks and logos including toys, video games and apparel

• Global video game market is expected to grow 8.2% through 2015 due to online, wireless games and expected new gaming platforms• Global toys market is dominated by 5 countries (US, Japan, China, the UK and France) that account for more the 50% of the global toys market• Piracy remains an issue


32.0

47.1

60.5

44.7

51.754.4

23.9

35.2

47.0

33.738.4 40.3

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

2006 2007 2008 2009 2010 2011


11.2% CAGR

11.0% CAGR

13.4 18.325.3

19.6 15.423.4

8.6

14.3

12.8

8.2 17.5

18.610.0

14.6

22.4

16.918.9

12.5

‐5.0

5.0

15.0

25.0

35.0

45.0

55.0

65.0

2006 2007 2008 2009 2010 2011

Video game revenue Toy revenue Other

Note: Revenue and Profit Contribution in USD millions as of 2011. 2006 Operating Metrics reflect fiscal year 2006

26

Home Entertainment


• Strong partnership – Vivendi Entertainment• Approximately 30 releases annually ‐ ½ PPV and ½ library content• 100+ titles in catalog • All episodic TV content (Raw, SD) is available for distribution• Distribution of content across all major transactional digital retailers (e.g. iTunes, Amazon)

• North America CAGR of 4.8% thru 2015 reaching $33.7B. Global CAGR of 4.3% thru 2015 reaching $64.4B• Global industry Blu–ray shipments and digital downloads offset DVD declines• Growing inclination of consumers to rent vs. purchase content


49.953.7

58.5

39.4

32.1 30.426.6

32.0 34.2

21.616.0 15.1

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

2006 2007 2008 2009 2010 2011


‐9.4% CAGR

‐10.7% CAGR

4,143 4,034 4,106

3,531 3,559 3,300

‐

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

2006 2007 2008 2009 2010 2011

Gross Units Shipped (000s)


27

Magazine Publishing


• WWE publishes a WWE Magazine, WWE Specials and WWE Kids magazine • WWE Magazine and WWE Kids Magazine ‐ 5+ million readers combined• 20+ books on NY Times Best Seller List

• Newsstand and subscription sales are expected to remain essentially flat through 2014• Industry shifts to higher subscription and cover prices to drive profits• Men’s and Kids categories face a difficult environment with the discontinuation of many titles


12.4

16.515.4

13.5

11.0

7.7

2.9

5.1

2.1 2.30.7 0.2

0.0

5.0

10.0

15.0

20.0

2006 2007 2008 2009 2010 2011


‐9.0 CAGR

‐39.0 CAGR

Note: Revenue and Profit Contribution in USD millions as of 2011. 2006 Operating Metrics reflect fiscal year 2006

4,097

4,9544,700

4,006

3,068

2,346

0

1,000

2,000

3,000

4,000

5,000

2006 2007 2008 2009 2010 2011

Gross Units Shipped (000s)

28

Digital Media


• Digital ad sales with above industry average traffic• Approximately 13 million monthly unique visitors ‐ ~50% international*• Approximately 300+ million page views on average over the last 3 three years*• Developing partnerships: Hulu, YouTube and TV.com• Online e‐commerce sales – average revenue per order ~$45+• Approx. 300K orders annually

• Total global mobile and internet advertising market expected to increase at 13% CAGR to $130 billion in 2015• US E‐commerce expected increase at 10% CAGR to $260B in 2014 – channel migration and growth in online purchases overall


28.1

34.8 34.832.8

28.9 28.1

9.713.5 11.9 13.1 11.6

9.5

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

2006 2007 2008 2009 2010 2011


‐0.4% CAGR

0.0% CAGR

331 337 337

307

296

33115.7

17.8

14.8

14.012.9 12.9

250

300

350

0.0

5.0

10.0

15.0

20.0

2006 2007 2008 2009 2010 2011

Online Merch. Orders (000s) Avg. Mo. Unique Visitors (millions)

* Excludes affiliate trafficNote: Revenue and Profit Contribution in USD millions as of 2011

29

Studios


• Pre‐2010 releases (“Licensed Film” model)– 4 theatrical films and 2 Direct‐to‐DVD projects– Expect film portfolio to surpass break‐even profits on an ultimate basis

• Hybrid distribution model: – Standard Theatrical ‐ Pre‐Sold International– Direct‐to‐DVD– Hybrid DVD/Limited Theatrical– Film Acquisition/Pre‐Buy

• Continuing to refine film model to reduce overall portfolio risk profile and enhance returns, especially through production/distribution partnerships, and co‐financing

• US domestic Theatrical box office flat since 2002 and projected to grow at 6.1% CAGR through 2015 to $15.5B• International box office has grown at 6% CAGR since 2000. EMEA is expected to grow at 6.8% annually to $14.1 billion in 2015, APAC will grow 11.3% annually to $16.2 billion in 2015, LATAM will grow at 8.9% to $2.5 billion in 2015• Despite revenue growth, film margins have declined over the last 20 + years


16.0

24.5

7.7

19.5 20.9

(13.1)

8.9

3.8 0.3

(27.6)‐15.0

‐10.0

‐5.0

0.0

5.0

10.0

15.0

20.0

25.0

30.0

2007 2008 2009 2010 2011


2

1

3

2

4

0

1

2

3

4

2006 2007 2008 2009 2010 2011

Number of releases


30

International


• Approximately 28% of the Company’s revenues are generated from international sources• Revenue from outside the U.S. grew at an average of 6% per year (2006‐2010); • Key sources of international growth are TV rights and licensing • Top Markets:

–EMEA – UK, France and Germany–APAC – Australia, India, Japan and South Korea–Latin America – Mexico

• The outlook for the global economy projects approximately 4% annual GDP growth through 2013 (Source: IMF)• The European economy weakened significantly in 2010 and estimates of GDP growth in the EMEA region have been reduced• Economic growth driven by the “BRIC” members (Brazil, Russia, India and China) is expected to be the highest in APAC and LATAM reaching approximately 6%–7%


68.884.9 94.3

82.5 80.3 76.3

30.4

30.634.4

32.1 35.6 38.73.2

3.9

6.512.5 19.4 18.6

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

2006 2007 2008 2009 2010 2011


Year

Europe, Middle East & Africa (EMEA) Asia Pacific (APAC) Latin America

119.3127.1

135.2

102.4

2006‐2008 CAGR: +14.9%135.2 133.4

2009‐2011 CAGR: +2.5%

31.7 40.3 44.6 43.7 42.6 42.5

30.632.8 37.2 39.0 45.4 47.519.517.7

17.8 15.0 11.7 12.520.327.2

34.6 27.1 31.4 26.30.5

1.21.3

2.54.2 4.6

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

2006 2007 2008 2009 2010 2011


Year

Live Events (Includes Venue Merch) Television

Pay‐per‐view (Includes WWE Classics On Demand) Consumer Products

Digital Media/Other

119.3127.1

135.2

102.4

2006‐2008 CAGR: +14.9%135.2 133.4

2009‐2011 CAGR: +2.5%


ir presentation 9.21.12 final.ppt - snl2006 2009 2010 2011 ebitda margin (%) 415.3 475.2 477.7 483.9...

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