WrestleMania® Generates $165 Million for New York/New Jersey Region
STAMFORD, Conn.--(BUSINESS WIRE)--Nov 11, 2019--
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.
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/
KEYWORD: CONNECTICUT UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SPORTS GENERAL ENTERTAINMENT ENTERTAINMENT GENERAL SPORTS WRESTLING
Copyright Business Wire 2019.
PUB: 11/11/2019 10:00 AM/DISC: 11/11/2019 10:00 AM