By James Caldwell, Torch assistant editor

WWE reported today full-year 2010 revenue of $477.7 million compared to $475.2 million in 2009. Similar to the fourth quarter comparability, WWE recorded Films Division revenue of $19.6 million compared to $7.7 million in 2009 under their new distribution model.

In the core business segments of "Live and Televised Entertainment," "Consumer Products," and "Digital Media," WWE reported year-over-year declines in live event revenue, PPV revenue, home video sales, and online revenue. Key increases were in TV Rights revenue and Licensing/merchandise sales.

Full-year 2010 Operating Income (revenue - expenses) was $82.3 million compared to $77.1 million in 2009, reflective of WWE cutting costs throughout the year. Net Income (profit) in 2010 was $53.5 million compared to $50.3 million in 2009.

WWE CEO/chairman Vince McMahon said in the earnings release that WWE achieved "record operating performance," but added "difficult trends continued in the fourth quarter."

“For the quarter and the full year, our businesses exhibited three major areas of strength: increased value from our television content, significant growth from our new toy licensing partnership with Mattel, and continued financial discipline," McMahon said.

"These strengths served to mitigate the impact of a weak economy, changes in our talent base, and unfavorable industry trends in home video. We remain confident that we can address our talent related challenges, expand both our content and distribution, and, leveraging our strengths, drive meaningful growth.”

Year-End Revenue Highlights

-- WWE's TV Rights Revenue increased to $127.0 million in 2010 compared to $111.9 million in 2009, an increase of 13.5 percent.

-- WWE's PPV revenue declined to $70.2 million in 2010 compared to $80.0 million in 2009, a decrease of 12.3 percent.

This is part of a larger four-year trend where the gap between TV Rights Revenue and PPV Revenue has widened over the last four years. (Follow-up story.)

Business Segment Highlights

-- In the "Live & TV Entertainment" business segment, WWE reported $331.8 million in total revenue for 2010, down from $335.0 million in 2009 (1.0 percent decline).

The key highlights are: $4.2 million decline (-3.9%) in live event/house show business, $9.8 million decline (-12.3%) in PPV revenue, $1.6 million decline (-7.1%) in live event/venue merchandise, $15.1 million increase (13.5%) in TV Rights revenue, $1.8 million decline (-23.4%) in TV Ad revenue, and $0.8 million decline (-14.8%) in Classics-on-Demand revenue.

-- In the "Consumer Products" business segment, WWE reported revenue of $97.4 million in 2010 compared to $99.7 million in 2009 (2.3 percent decline).

The key highlights are: $7.3 million decline (-18.5%) in DVD/home video sales, which Vince McMahon pointed out in the press release, $7.0 million increase (15.7%) in licensing revenue (virtually offsetting each other), and $2.5 million decline (-18.5%) in Magazine revenue.

-- In the "Digital Media" business segment, WWE reported $28.9 million in 2010 compared to $32.8 million in 2009 (11.9 percent decline).

The key highlights are: $1.9 million decline (-11.3%) in WWE.com/web advertising revenue and $2.0 million decline (-12.5%) in WWE Shop revenue.

-- In the WWE Studios/Films division segment, WWE reported $19.6 million in 2010 revenue compared to $7.7 million in 2009, primarily due to the change in WWE's films distribution model.

Link: Full release at Finance.Yahoo.com.

-- FOLLOW-UP STORIES: Full list of Financial Results coverage.

***

APP Users: Tap here - http://finance.yahoo.com/news/WWE-Reports-2010-Fourth-bw-1336198126.html?x=0&.v=1

Financial Links - http://pwtorch.com/artman2/publish/WWE_News_3/article_47613.shtml

We suggest these recent related articles...

WWE NEWS: Superstars SPOILERS - Results from Chicago Raw

WWE NETWORK: Monday, Oct. 12 Schedule - Raw pre-show, Sting DVD preview

WWE NEWS: Lana & Rusev reportedly engaged - follow the interesting 2015 timeline