WWE reported strong quarterly earnings for the first quarter of 2020. The company also noted how they’re taking necessary precautions to protect their superstars and staff from the dangers associated with the Coronavirus.
On a recent edition of Wrestling Observer Radio, Dave Meltzer explained that although WWE signed multiple deals for new talent in preparation for 2020, they have kept their payroll spending on the low end because of the lack of live arena shows the company is putting on.
Talent in the WWE typically get paid a designated amount each quarter based off the number of live arena shows they participate in. However, when a situation occurs like the current ongoing Coronavirus, the talent is limited to only performing on RAW, SmackDown, or NXT, if they’ve been booked.
It was noted at F4WOnline.com that when talent sign with the company, they can choose to be paid biweekly based on a downside guarantee, or biweekly on what they would normally draw between live event pay, merchandise and royalties. If that number doesn’t reach their downside guarantee, WWE will write a check to pay them the difference.
During the aforementioned earnings report, Vince mentioned how being nimble, creative, and efficient will be the tools to ensure long-term success in WWE going forward.
“Our first quarter financial performance was strong and largely unimpacted by the COVID-19 outbreak,” said WWE Chairman & CEO Vince McMahon. “Now we are in the midst of unprecedented times, which require us to be especially nimble, creative and efficient in order to ensure the long-term value of WWE. We are taking precautions to protect the health and safety of our performers and staff as we produce content in new ways, engage fans with a much-needed diversion and operate effectively in this evolving environment.”
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