FOR IMMEDIATE RELEASE Contacts: Investors: Michael Weitz 203-352-8642 Media: Tara Carraro 203-352-8625 WWE® Reports 2013 Second Quarter Results STAMFORD, Conn., August 1, 2013 - WWE (NYSE:WWE) today announced financial results for its second quarter ended June 30, 2013. Revenues increased $10.7 million or 8%, to $152.3 million from $141.6 million in the prior year quarter driven by the increased production and licensing of television content as well as increased ticket revenue from the Company's premier event, WrestleMania, partially offset by the timing of one less pay-per-view event in the quarter. Operating income, however, declined to $8.8 million as compared to $19.6 million in the prior year quarter reflecting increased staffing expenses to support our various strategic initiatives. Net income was $5.2 million, or $0.07 per share, as compared to $11.9 million, or $0.16 per share, in the prior year quarter. “In the second quarter, we continued to make investments in both staffing and talent to support our long-term growth objectives. These initiatives, including the recent opening of a world-class performance training facility, and the highest grossing WrestleMania in our Company's history, demonstrate our commitment to develop our talent, build our brands, and provide a solid foundation for future growth,” stated Vince McMahon, Chairman and Chief Executive Officer. “We continue to believe that these investments will enhance our ability to create new programs and to distribute all of our content in a way that optimizes its value, through the renewal of key television contracts and the potential launch of a WWE network.” "Although our earnings declined in the quarter, we believe that the investments we are making will maximize the return to shareholders over time," added George Barrios, Chief Financial Officer. "We believe that our 2013 results, excluding the impact of film impairments, will fall within the lower end of the range previously communicated, which was 'plus or minus 10 percent' from our 2012 OIBDA results of $63 million." Comparability of Results For the second quarter of both 2013 and 2012, our OIBDA results did not include any significant items that impacted the comparability of results on a year-over-year basis. Our OIBDA results for the six months ended June 30, 2013 included a $4.7 million film impairment charge and an approximate $3.4 million positive impact from the transition of our video game to a new licensee in 2013. Results for the six months ended June 30, 2012 included a $0.8 million film impairment charge and an approximate $4 million benefit due to the recognition of previously unrecognized tax benefits. In order to facilitate an analysis of our financial results on a comparable basis, where noted, we have adjusted our year-to-date results to exclude these items. (See Schedule of Adjustments in Supplemental Information). Three Months Ended June 30, 2013 - Results by Region and Business Segment Revenues of $152.3 million grew 8% versus the prior year quarter as growth from North America was partially offset by declines across WWE's international markets. North American revenues increased 13% from the prior year quarter predominantly due to the licensing of new television programs, the performance of WrestleMania, and an increase in the number of North American live events, which more than offset lower revenues from the pay-per-view business, which had one less event in the current year quarter. Revenues from outside North America declined 8% primarily due to an anticipated reduction in the number of live events. Excluding revenue from Live Events, revenues from outside North America were essentially unchanged from the prior year quarter. There was no significant impact from changes in foreign exchange rates in the current year quarter. The following tables reflect net revenues by region and by business segment (in millions): Three Months Ended June 30, June 30, 2013 2012 Net Revenues By Region: North America $ 119.0 $ 105.3 Europe/Middle East/Africa (EMEA) 23.9 24.2 Asia Pacific (APAC) 8.0 8.4 Latin America 1.4 3.7 Total net revenues $ 152.3 $ 141.6 Three Months Ended June 30, June 30, 2013 2012 Net Revenues By Business Segment: Live and Televised Entertainment $ 125.3 $ 117.1 Consumer Products 15.7 16.1 Digital Media 9.2 7.8 WWE Studios 2.1 0.6 Total net revenues $ 152.3 $ 141.6 Live and Televised Entertainment Revenues from our Live and Televised Entertainment businesses increased 7% to $125.3 million primarily due to the expansion of rights fees from the production and licensing of our television programs and the performance of WrestleMania XXIX. Compared to the prior year event, WrestleMania XXIX contributed $6.2 million in additional revenue, which is predominantly included in the Live and Televised Entertainment business segment, as higher ticket and merchandise sales were partially offset by a reduction in pay-per-view buys. • Live Event revenues increased 13% to $40.1 million driven by the strong performance of WrestleMania XXIX and the timing of our Fan Axxess events held in conjunction with WrestleMania, which more than offset changes in 2 the mix of live events, and the impact of fewer events in international markets. (Fan Axxess occurred primarily in the first quarter 2012 versus the second quarter 2013). • There were 87 total events in the quarter, including 65 events in North America and 22 events in international markets, as compared to 87 events in the prior year quarter, including 57 events in North America and 30 events in international markets. • North American events generated revenues of $30.1 million as compared to $22.3 million in the prior year quarter representing revenue growth of $7.8 million that was predominantly due to a 39% increase in the average ticket price of WrestleMania, the timing of Fan Axxess, which added $2.3 million in revenue to the current year quarter and the scheduling of eight more events in the quarter. Overall, including the impact of WrestleMania, average ticket prices increased 13% to $64.23 while average attendance declined approximately 2% to 6,300. Excluding WrestleMania, average ticket prices increased approximately 2% to $41.44 while average attendance declined approximately 2% to 5,300. • International live events generated revenues of $10.0 million as compared to $13.1 million in the prior year quarter, reflecting a 27% decline in the number of events, with eight fewer events in the quarter. Partially offsetting the impact of fewer events, average International ticket prices increased 7% to $68.16 and average attendance increased 6% to approximately 6,600 from 6,200 in the prior year quarter. The increases in average ticket price and average attendance were due to changes in territory mix as the prior year quarter included weak attendance at our events in Mexico and our first live event in Brazil, a market with long-term strategic importance to WWE. • Venue Merchandise revenues increased 28% to $6.9 million from $5.4 million in the prior year quarter primarily due to the timing of our Fan Axxess activities (described above). Total paid attendance in North America increased 11% while per capita merchandise sales at those events were essentially unchanged from the prior year quarter. • Pay-Per-View revenues were $37.1 million as compared to $40.8 million in the prior year quarter, representing a $3.7 million decline primarily attributable to the timing of one less pay-per-view event in the quarter. The Over The Limit pay-per-view event is scheduled for the fourth quarter of 2013 versus the second quarter 2012. Revenue from the three events in the quarter declined 3% versus the prior year quarter as a combined 13% decline in buys was nearly offset by a 12% increase in the average revenue per buy. The shortfall in revenue from these events, however, was offset by an increase in buys for prior period events. The rise in revenue per buy was due to an approximate 9% increase in the domestic retail price charged for viewing WrestleMania and to a higher proportion of buys to view the Company's events in high definition, which generally garners a higher retail price. The details for the number of buys (in thousands) are as follows: Three Months Ended Broadcast June 30, June 30, Month Events (in chronological order) 2013 2012 April WrestleMania XXIX® 1,039 1,217 May Extreme RulesTM 231 263 May Over The LimitTM — 167 June WWE PaybackTM/No Way Out® 186 194 Prior events 95 56 Total 1,551 1,897 • Television revenues increased 17% to $38.0 million from $32.4 million in the prior year quarter primarily due to the production and licensing of new programs. During the latter half of 2012, an additional hour of Raw was licensed to the USA Network, a new original series, the WWE Main Event, was licensed to ION Television, and a Saturday 3 morning kids' show, WWE Saturday Morning Slam, was introduced on The CW Network. Growth also reflected, to a lesser degree, contractual increases for our existing programs both domestically and internationally. Consumer Products Revenues from our Consumer Products businesses decreased 2% to $15.7 million from $16.1 million in the prior year quarter, primarily due to declines in our Home Entertainment business as described below. • Licensing revenues of $6.7 million were essentially unchanged from the prior year quarter. Royalties from the sale of toy products increased approximately 15%, or $0.5 million, led by higher sales of action figures in the U.S. with strong domestic retail support. Increased sales of toy products, however, were offset by a comparable reduction in video game revenue.