WrestleMania® Generates Record $181 Million for Orlando Region
November 15 2017 - 8:00AM
Business Wire
WWE® (NYSE:WWE) and Orlando Mayor Buddy Dyer announced today
that WrestleMania 33 generated $181.5 million in economic impact
for the Orlando region this past April, according to a study
conducted by the Enigma Research Corporation. This marks a new
record for WrestleMania’s economic impact and the sixth 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:
http://www.businesswire.com/news/home/20171115005331/en/
WrestleMania 33 at the Orlando Citrus
Bowl (Photo: Business Wire)
Over the past 11 years, WrestleMania has generated more than $1
billion in cumulative economic impact for the cities that have
hosted the event. WrestleMania 33 also generated approximately
$22.7 million in federal, state and local taxes.
“On behalf of the residents of the City of Orlando, I would like
to thank the tens of thousands of WWE fans that converged on our
city to be part of WrestleMania Week,” said Orlando Mayor Buddy
Dyer. “The week-long series of events boosted our economy by
bringing guests to our restaurants, shops and hotels, and also
benefited our city through community outreach initiatives. We look
forward to welcoming WrestleMania back soon.”
"This historic result would not have been possible without the
support of Mayor Dyer, the Central Florida Sports Commission and
all of our public and private sector partners in Orlando that
worked so hard to again welcome WWE’s global fan base,” said John
P. Saboor, WWE Executive Vice President, Special Events. "We
continue to be grateful to our fans who helped us deliver
unprecedented economic results for our WrestleMania host city. We
now look ahead to our return to New Orleans in 2018 for
WrestleMania 34."
A record crowd of 75,245 fans from all 50 states and 62
countries attended WWE’s pop-culture extravaganza this past April,
making it the highest-grossing and most-attended event in Citrus
Bowl history. Key highlights from the study include:
- $181.5 million in direct, indirect and
induced impact derived from spending by visitors to the Orlando
region for WrestleMania 33.
- 79% of fans that attended WrestleMania
were from outside the Orlando region and stayed an average of 5.6
nights.
- $24.8 million was spent on hotels and
accommodations within Orlando.
- The economic impact derived from
WrestleMania Week was equal to the creation of 1,730 full-time jobs
for the area.
- $9.3 million was spent by visitors to
Orlando at area restaurants.
Next year, WrestleMania 34 will take place Sunday, April 8 at
the Mercedes-Benz Superdome in New Orleans. Tickets will be
available this Friday, November 17 at 11 AM ET/10 AM CT through
Ticketmaster. The event will 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 programming reaches more than 650 million homes worldwide in 20
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: WWE Network; major
distribution agreements; 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; 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 relating to
CTE; large public events as well as travel to and from such events;
our feature film business, including anticipated release, marketing
or involved talent for upcoming titles and productions; 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 revolving credit facility; 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 relatively small public
“float” 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: http://www.businesswire.com/news/home/20171115005331/en/
WWEMedia:Adam
Hopkins, 203-352-8675Adam.Hopkins@wwecorp.comorInvestors:Michael Weitz,
203-352-8642Michael.Weitz@wwecorp.com
World Wrestling Entertai... (NYSE:WWE)
Historical Stock Chart
From Jun 2024 to Jul 2024
World Wrestling Entertai... (NYSE:WWE)
Historical Stock Chart
From Jul 2023 to Jul 2024