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 $14.51 with a P/E ratio of 22 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 increased primarily through the success of our international events which generated approximately $5.8 million of additional revenues. There were five additional international events in the current quarter as compared to the prior year. The quarter-over-quarter increase reflected a 38% increase in average attendance to approximately 9,100 from 6,600, partially offset by a 19% reduction in average ticket prices to $65.59. Average attendance at our North American events was approximately 5,800 in the current quarter as compared to 5,300 in the prior year. The average ticket price for North American events was $36.26 in the current quarter as compared to $38.21 in the prior year. The total profit contribution margin for live events was 28% as compared to 23% in the prior year quarter. In the prior year, four of the 12 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 four 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 $1.6 million in 2008, with no change to profit. See Note 1 to the unaudited Consolidated Financial Statements.
We recorded revenue of approximately $3.0 million in the current quarter related to our prior theatrical releases as compared to $5.6 million in the prior year quarter. 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.
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. Based on this timing, no revenues have been recorded for 12 Rounds and approximately $0.2 million has been recorded for Behind Enemy Lines: Colombia.
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