WWE sees FY18 adjusted OIBDA $160M-$170M
In the first nine months of 2018, the Company achieved a 12% increase in revenue to $657.7 million and a 20% increase in Adjusted OIBDA to $114.5 million. As previously communicated, the Company anticipates meaningful revenue growth in the fourth quarter based on the escalation of content rights fees and the favorable timing of licensing revenue associated with the implementation of a new FASB standard. The Company estimates fourth quarter 2018 Adjusted OIBDA of approximately $45 million to $55 million. The Company also projects average paid subscribers to WWE Network of approximately 1.56 million for the fourth quarter 2018, which contributes to growth of approximately 8% for the full year. The range of projected fourth quarter results would result in full year 2018 Adjusted OIBDA of $160 million to $170 million, which would be an all-time record consistent with the Company's previous guidance. Fourth quarter and full year 2018 guidance are predicated on the staging of an event in Riyadh, Saudi Arabia on November 2, 2018.