World Wrestling Federation Entertainment Inc. is an integrated media and entertainment company principally engaged in the development production and marketing of television programming pay-per-view programming and live events and the licensing and sale of branded consumer products featuring our highly successful World Wrestling Federation brand. World Wrestling Entertainment Inc. has a market cap of $1.06 billion; its shares were traded at around $14.49 with a P/E ratio of 29.6 and P/S ratio of 2. The dividend yield of World Wrestling Entertainment Inc. stocks is 10%. World Wrestling Entertainment Inc. had an annual average earning growth of 10.5% over the past 5 years.
Highlight of Business Operations:Live events revenues decreased primarily through the lower performance of our international events, partially offset by the impact of our annual WrestleMania event, which occurred in the second quarter of 2009 as compared to the first quarter in 2008. The profit contribution margin for live events was 35% as compared to 29% in the prior year quarter. The international events in the prior year quarter included several events in Europe that are historically strong performing events. Average attendance at our North American events was approximately 8,200 in the current quarter as compared to 6,900 in the prior year. The average ticket price for North American events was $46.25 in the current quarter as compared to $40.13 in the prior year. Excluding the impact of WrestleMania, North American average attendance and ticket price was 7,200 and $34.47, respectively, in the current quarter. In the prior year, 4 of the 29 international events performed were recorded as buy-out deals that provided minimum guarantees of profit for WWE. In the current year, it was determined that these 4 events should have been recorded on a gross basis. Had these events been recorded on a gross basis, revenues and expenses would have each increased by approximately $1.3 million in 2008, with no change to profit. See Note 1 to the unaudited Consolidated Financial Statements.
Pay-per-view revenues increased $17.7 million in the current quarter which reflects the impact of WrestleMania XXV. WrestleMania XXV generated approximately one million pay-per-view buys in the current quarter, or approximately $21.0 million in related revenues. Pay-per-view buys for the three events that occurred in both 2009 and 2008 decreased approximately 4% in the current quarter. Pay-per-view profit contribution margin was 57% for both the current quarter and prior year quarter.
We recorded revenue of $0.8 million in the current quarter related to two of our three prior theatrical releases, The Marine, See No Evil and The Condemned, as compared to $2.6 million in the prior year quarter. During the first quarter of 2009 we released our fourth feature film, 12 Rounds as well as a Direct-to-DVD film, Behind Enemy Lines: Colombia. 12 Rounds generated approximately $12.2 million in gross domestic box office receipts and was released domestically on DVD on June 30, 2009. We participate in revenues generated under the distribution of the films through all media after the print and advertising and distribution costs incurred by our distributors have been recouped and the results have been reported to us. As such, no revenues have been recorded for 12 Rounds or Behind Enemy Lines: Colombia.
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