Operator
We successfully launched our free version of the WWE Network, which is designed to further engage fans with explosive content and of course convert viewers to subscribers. We preserve — while we preserve the value of a premium content versus last year with the new free network, we achieved a 6% increase in WWE Network’s paid subscribers through Q2. And of course we are constantly strengthening our leadership team and with the announcement of the hiring of Kristina Salen as our CFO. And we believe more than ever that we have the right team in place and it maybe not so much appropriate, but I’d like to thank Frank Riddick who stepped in from the Board, who is the Interim CFO, is doing extraordinary job.
Fran A. Riddic – Chief Financial Officer and Chief
Thank you very much, Vince. There are several key topics we review today, adding a discussion of our economic performance, liquidity in capital design and our business perspectives. We generated coins of approximately $223 million at the time of a quarter and replaced the OIBDA of $73.5 million, which doubled from the previous year’s quarter. A significant disposition in earnings with minimizing profits highlighted the relief in expenses we were able to achieve. Although the executive mandates applicable to COVID-1nine ended in canceling live events, we continue to provide content from our school at minimal cost, which has compensated for the loss of tickets and the sale of products on the sites.
During the quarter, currencies were kept to a minimum by $45 million, as the influence of our new distribution agreements in the U.S. It was more than offset by the loss of live-charged ticket sales and the timing of our big time in Saudi Arabia, which was held in the first quarter of this year compared directly to the time of a quarter last year. However, the Adjusted BEAA increased through a maximum of $40 million, as it minimizes production fees and reduced expenses resulting from the fee reduction measures we implemented in April. OIBDA’s adjusted expansion also reflected an advantage in improving executive incentive reimbursement as a result of minimizing functionality expectations by 2020 in relation to our incentive plan functionality objectives.
At the beginning of the quarter, we adapted our business to continue generating our Raw, SmackDown and NXT television systems. More importantly, we have been told that we also maintained our goal of encouraging fan engagement through the creation of new content from the platforms. Highlights of this effort come with the production of Undertaker’s Last Ride and Tales from the Deadguy and the design of the hit series The Quest for Lost Treasures, which is based on our involvement with A-E. We also finished the fifth season of Total Bellas, which completed a 9% rating design and ended with the best friend, a million audience consistent with the episode and announced the premiere of season six on E! Autumn. These examples are just the end of the iceberg.
To review our sales functionality during the quarter. Let’s move directly to page four of our presentation, which monitors OIBDA revenue, which is inconsistent with test compatibility and replaced the contribution per segment compared to the previous year. For our media business, the tight OIBDA design increased through $53 million, reflecting the influence of minimizing production charges. Revenue design increased slightly as the design on the national position lists for our Raw and SmackDown systems was offset through the unfavorable calendar of our Suconsistent with ShowDown events. Average paid subscribers on WWE networks were 1.5% to a minimum since the quarter of the previous year to approximately 1.66 million. Paid subscribers in the final design were updated with the increase in paid subscriber additions than in the quarter of the previous year.
When we announced the loose edition of netpaintings, we also made progress by introducing localized prices in some foreign markets and the additional emergence of netpaintings advertising captures. We continue to feasibility the alternative strategic features for network work, as our potential partners have been affected through COVID, those discussions have spread. At this time, we are unable to estimate when an alternate option can be terminated and remain in the perspective of a transformative transaction.
Let’s move directly to our live occasion activity, as shown on page 6 of our presentation. The beAA adjusted for our live parties decreased by $17.five million founded on a relief of $47.8 million in revenue. These reductions were the largest friend due to the cancellation or relocation of mandatory government parts, contributing to 76 fewer parts than in the previous year’s quarter. Until mid-March, we also can’t host arena parties and stadiums in front of the public. During the quarter, we don’t throw big parties of this kind.
At the moment, we don’t seem able to expect what we expect when we start welcoming enthusiasts to our places, but we intend to return to live parties with as temporary an audience as imaginable safely. In our Jstomer product segment, the design of product sales on our e-commerce site, WWE Shop, almaximum offset the loss of product sales on the site. BEAA’s tight design increased through $1.nine million, mainly because it minimizes scoring costs. During the quarter, the expansion of our e-commerce business was backed up through the expansion of our collectible catepassry with the advent of the design of six new call belts, such as the so-called Rock Brahma Bull and the so-called Triple H Signature Series.
Royalties for the sale of legal consoles and cellular games continue to have the wonderfulness of the recent expansion effects in the industry. Video game winnings also reflected WWE Superstars and IP licenses for integration into popular titles, adding King of Fighters ALLSTARS. While the company’s cellular games, WWE SuperCard and WWE champions generated expanding coins of more than 15% compared directly to the previous year’s quarter. We’ll expand our gaming portfolio with the launch of a WWE 2K Battlegrounds arcade flavor game in the fall of 2020.
Page 8 of our presentation monitors some elements of our capital structure. As of June 30, we had approximately $548 million in short-term investment coins. This includes $20 million that we borrow as a component of our renewable line of credit to consolidate, we have been given the capital to execute our strategy and deliver long-term positions to our shareholders. At the time of a quarter, we generated approximately $68 million in loose currencies compared to using $27 million coins at the time of a quarter last year.
The increase was driven by stronger operating performance, improved working capital and to a lesser extent lower cap insurers. The spread of COVID-19 and related government mandates have impacted our business as we’ve been directed to cancel, postpone or relocate our live events since mid-March. To date, we’ve been able to offset the loss of ticket and merchandise sales at our live events by reducing operating expenses across all areas of our business, highlighted by the introduction of a new model for producing content. To mitigate further potential risk to our financial performance, we evaluated our operations in implementing a comprehensive set of short-term cost reductions and cash flow improvement actions. To enhance WWE’s liquidity we deferred spending on the company’s new headquarters temporarily suspended to reverse the stock under our $500 million program [Technical Issues] $200 million from our revolving credit facility.
By 2020, we have been reduced capital expenditures through approximately $140 million and is now estimated to range from $40 mili indirectly to $50 million for the year. We continue to transform our business into a conversion environment with a spotlight to get better content production and sell the fan engagement. Currently, we evaluate the essentials for success in these objectives, in addition to possible investments to our long-term expansion strategy. While we encourage innovation, we aim to demonstrate an economic field that balances short-term transformation with our long-term expansion goals. We can resume our $500 million percentage repurchition program, which was temporarily suspended in April.
As a reminder, we see that our percentage repurulation program transfers excess capital to percentage holders, taking into account investment opportunities. WWE percentage acquisitions as planned can be executed opportunistically, i.e. when the repurulation charge is under WWE’s intrinsic charge, it is conservatively estimated through management. Subject to WWE’s liquidation and commercial liquidity and when readquisition percentage transfers are compared favorably with other capital allocation alternatives.
In the future, COVID-1nine’s forward-looking influence on our operations, which could well be significant, is uncertain. As a result, we were given the withdrawal of our forecast for 2020 and, given the ongoing economic uncertainty, we do not seem to be rebuilding our forecasts at this time. As I indicated last quarter, we continue to believe that our expansion customers remain strong and that WWE is well placed to take full advantage of the media landscape and the next long-term live sports content load. We are focused on proposing new content for the global distribution bureaucracy and expanding public participation in new and innovative ways. That ends that component of the appeal, and now I’m going to give it to Mike.
Michael Weitz – Senior Vice President of Financial Planning and Investor Relations
Operator
Fine thank you. [Operator Instructions] Our first consultation comes from Curry Baker with Guggenheim Securities.
Curry Baker – Guggenheim Values – Analyst
Hey. Good afternoon, fellas. Thanks for the question The first one is for Vince. The ratings have been low recently, I think all COVID has had an influence on production and product, how concerned are you about ratings? Can you tell us what information you have about what you think is behind the sweetness? And what is the technique to counteract qualifications, either in the short term, because we have been given COVID and also long-term restrictions?
Vincent K. McMahon – President and CEO
When it comes to scoring, it can be more than just another sport. Certainly, our audience is a component of the program. Your interaction with the public is at all times an advantage. Regularly he has an audience and I had one: he’s going back to the origin of this genre in terms of himself and boos. And the audience is an integral component of our wise song and our TV scores, due to the interaction or loss of interaction, despite that, I think we are able to have more convincing characters that are suntile in the A rating. New characters are getting to where we are now, and more content this is never necessarily in the ring, but yes, one that specializes in our personalities and their outdoor stories.
Curry Baker – Guggenheim Values – Analyst
Okay, thanks. And then I have one for, I think, Frank. You guys have been able to do a lot on the expense line here in the second quarter, should we expect similar cost savings and cost discipline to continue in the third and fourth quarter? It looks like we’re still going to be working in a COVID world during those quarters as well or is there anything else to think about on the cost line, going forward?
Fran A. Riddic – Chief Financial Officer and Chief
Well, we continue to be well-disciplined in controlling costs, but going forward, to the extent that we restart live events, particularly in a COVID constrained environment, we will see likely some increase in cost, but we’re being very cautious in the way that we are deciding to add cost and it will depend on what the environment is and what we’re able to do, particularly around live events.
So we learned a lot about the COVID procedure and the COVID parts and procedures we used to analyze the business, and then we knew a few things that would likely become savings from permanent charges or differences in the way we operate. At the same time, as stubborn in my comments, we are looking for some potential investments with long-term attention and prefer to be well placed when content rights are renewed. So, at this point, we don’t have to make big apple predictions, as I said, because we’re looking to figure out exactly how this: the COVID scenario will spread and influence our business.
Curry Baker – Guggenheim Values – Analyst
That’s so much.
Operator
And our next one comes from Ben Swinburne with Morgan Stanley.
Benjamin Swinburne – Morgan Stanley – Analyst
Thank you. I’m going to invite you over the net. You distrust that there is nothing new to report on in the strategic review, but how do you handle Apple’s comparative investments today in new products, new content or new foreign offerings, prioritization, etc.? You had a portfolio of products for this product in recent years before you started talking about the option to download the right. I wonder what you are doing today and what your plan is to invest in this product and make it a great friend if you wish, you can do it in the next two years. And once you’re able to spend, what do you like to spend in that environment or are you a little more concerned about resource allocation?
Vincent K. McMahon – President and CEO
I mean, take us to Jayar Donlan, he’ll give us an easier answer. Since I know there’s been one, we still have a challenging entertainment area, but JR, if you can be able to meet the fourth, please.
Jayar Donlan – Executive Vice President
Yes, happy, Vince. And, first of all, I’d love to embellish the content we obviously invest in content, and recently we’ve had some very successful forays with things like Undertaker’s Last Ride or Ruthless Aggression. We’re talking about the product roadmap, recently little happened with location, because we’ve located the price currency and ui in a handful of LATAM markets, and we’re also making progress in advertising. So, we have been given this evolved capability, we verify that the user delights in making an allocation for economic office and necessarily or simply comparing our general attitude to the deployment of new capabilities.
Benjamin Swinburne – Morgan Stanley – Analyst
That helps. And I just didn’t know if I had an update at the time saudi at the time of this year. I think it probably probably won’t happen, but I didn’t know if a resolution had still been taken.
Vincent K. McMahon – President and CEO
The resolution has not yet been made, it is based on its scenario in its economy, I doubt it.
Benjamin Swinburne – Morgan Stanley – Analyst
Everything is fine. All right, you.
Operator
Thank you. Our next consultation will come from Eric Handler with MKM Partners.
Eric Handler – MKM Partners – Analyst
Yes. Good afternoon. And thank you for the question. Just some kind of overlap in this last number. I wondered if you should have some attitude to the first comments about the loose launch of the WWE network, and when you think you may be able to integrate this advertising and opt for alternative costs for some markets in connection with the right point. $9.99.
Vincent K. McMahon – President and CEO
Well, let’s order JR for this answer. Jr?
Jayar Donlan – Executive Vice President
I started with the pricing component. That’s all. Okay, but I’m suspicious, they gave us a position in more than one market, what was the origin of their question?
Eric Handler – MKM Partners – Analyst
Can you, are you able to give us some statistics knowingly about the publication of WWE netpaintings and when do you think you can integrate this advertising component?
Jayar Donlan – Executive Vice President
Therefore, we have designed to load generation captures now and we are comparing our advertising philosophy. I would say that the first effects in the release are promising and again, the technique is only to motivate the sampling of content and the KPIs we are looking for are active users and how we convert those active users to the paid service, not to the specificity. metrics to the percentage now, I think I have more because I have more hitale with the release, once again, the first effects are very encouraging
Eric Handler – MKM Partners – Analyst
That’s so much.
Operator
And our next question comes from Vasily Karasyov with Canonball Research.
Vasily Karasyov – Cannonball Review – Analyst
Thank you. Good afternoon. A few quicks. I think it was the first quarter that the Indian contract changed to new prices. So, are you capable of please, A? Bring it back and let us know whether this, load design or load replenishment in India has contributed to the year-over-year evolution of basic content revenue. And then I have one at the buyback. Thank you.
Fran A. Riddic – Chief Financial Officer and Chief
So, yes, and we’re under the hot contract this quarter and we reveal the details, however, it didn’t have a big apple effect on the hot year, it was replenishment in the era of content revenue.
Vasily Karasyov – Cannonball Review – Analyst
Thank you. And then, about repurchase, I think: we know a wonderful variety of suspended companies, you’re the first or the first one I hear that you announce that you may be able to take over, but can you explain a little more? in detail, why do you think it may be the right time to do so and why did you seek to talk to investors and also replace your criteria and kind of technique of how you can make your buybacks in 2019? Thanks a lot.
Fran A. Riddic – Chief Financial Officer and Chief
Well, the technique of the studies has not been repositioned. Of course, we have received suspended buybacks, so through the purchase of stocks, since they do not have large stocks of apples since April, I think the explanation is that – we said that we can also resume repurchase is based on our studies, we believe it is also an attractive opportunity and, at the same time, we have been generated coins excessively h8 and we are very satisfied with our liquidity position. Again, of course, general decisions in this regard have not been made and, due to the deterioration or replenishment of the trading environment from here, we may not be able to buy shares, but we feel that things were going well enough to have the studies started again and be prepared to buy backs and stocks if the opportunity arises.
Vasily Karasyov – Cannonball Review – Analyst
Thank you very much.
Operator
And the next one will be Eric Katz with Wolfe Research.
Eric Katz – Wolfe Reseek – Analyst
Thank you. Good afternoon. So it seems that the quarter ended with more paid netpainting subscriptions than its average for 2Q, which I think you distrusted earlier, which is interesting, as it announced the release edition on June 1. So, is there an explicit explanation for why? what did you see in the data?
Vincent K. McMahon – President and CEO
Everything is fine. JR take this one, please.
Jayar Donlan – Executive Vice President
There are a wonderful variety of passing pieces. It’s probably not the maximum to go into the details of the loose version, but the obvious release of this is a contriytor. But I think, in general, our promotion in our plats form is that we do new things around the virtual and social ecoform, in addition to our TV partners, should have sampled content on ESPN or FS1 going back to the network. . We’ve been talking about compelling content we’ve had, from Undertakers Last Ride and we’re an apple attraction and we’ve had some of the latest fantastic movie adjustment thrills in our recent pay-per-pass. And then the last detail would be, there to spend some macro-advertising factors, there is only one general expansion in virtual visualization and others that are accelerated after COVID.
Eric Katz — Wolfe Research — Analyst
Thank you. I guess in this topic, there’s some way to understand perhaplaystation what percentage of the design in virtual perspectives was applicable with the loose network. And secondly, it’s about you on social media and it’s like in the metrics of your KPI, this is the first time I let fans fall on social media, was there a notable explanation why an unwrified station was a paid call? I have no idea if I think I’ve heard something like a restriction on a consolidated market, I have no idea if this is the explanatory reason.
Fran A. Riddic – Chief Financial Officer and Chief
Therefore, on social media whose influence on the audience has been suffering from the Apple Sobig agreement we mentioned, geographically best friends block linked content and those figures no longer appear, especially the best perspectives generated through users.
Eric Katz – Wolfe Reseek – Analyst
Everything is fine. And to what extent do virtual perspectives set loose net paint rates or is it too soon?
Fran A. Riddic – Chief Financial Officer and Chief
The moment we can’t be outrageous, it’s too early to tell what best friend ends up in design in viewer diversity. If the audience is willing to pay subscribers in addition to loose subscribers. Therefore, however, we may be able not to split as many friends in the instant.
Vincent K. McMahon – President and CEO
Try to shape our …
Eric Katz – Wolfe Reseek – Analyst
Maybe…
Vincent K. McMahon – President and CEO
We don’t hurt ourselves by opting for the loose edition instead of a 30-day loose trial. We don’t hurt ourselves, this is what we meant.
Eric Katz – Wolfe Reseek – Analyst
That’s useful Maybe only 1 more if you don’t mind. Look, we’ve seen cable cuts increase the pandemic, which has made it less difficult for streamers to unload submarines than just six months ago. At the same time, we said the odds were a complicated segment, which is understandable with some stars on the sidelines. But for someone from abroad looking inside, it will look like they’re negotiating leverage with a potential netpaintings licensee and who may also be the potential best friend to take a hit while the deals were pending.
So please be favorable to understand which great friend leaves the network for licensees. And then what will come up with some kind of confidence that this agreement looks the same, either six or a year from now on when the deal is made, instead of perhaplaystation a little does not depend on you as the best friend expected?
Fran A. Riddic – Chief Financial Officer and Chief
Well, I think it’s as obvious as we said, we continue to invest in netpaintings and attract more subscribers and engagement, generating very convincing content, enticing potential components, the other component is the way with the addition of streaming centers with one or more entities, Disney, Comcast, etc., we believe that a WWE product would be very attractive to these platforms. So what are the complete macroeconomic trends like you said? We’re seeing a design in the stream and we’re seeing changes in limited streaming homes that don’t seem to work well, so they’ll obviously win and lose and in fact we think WWE content would be valuable to one of those winners.
That helps. That you.
Operator
Thank you. Our next one comes from Brandon Ross with LightShed Partners.
Brandon Ross – LightShed Partners – Analyst
Hello everyone. Thank you for answering questions. I have a follow-up on the scoring disorders that were known a little earlier. First, why do you think they’re for Vince? Why do you think AEW and NXT recovered more from the initial COVID surprise than Raw and SmackDown? And then, based on the commentary of his last trimester, he seems to have a strategy to repair Raw that tells patients to “overcome” some new talents. You abandoned this plan when you fired Heyguy and, in general, why did you fire Heyguy? And finally, given Paul’s recent relationship with NXT, do you think it could be favorable on Raw and/or SmackDown on a h8 paper? Thank you.
Vincent K. McMahon – President and CEO
That’s a lot.
Brandon Ross – LightShed Partners – Analyst
I am sorry. Me, we can break it down, too. But first, why do you think AEW and NXT recovered more from the initial COVID surprise than Raw and SmackDown?
Vincent K. McMahon – President and CEO
They’re both new. Something new and what you have, and it’s up to us to make Raw and SmackDown more useful, that’s where we’re going and I, in terms of continuing, I said that the new thing in character design is that you have to build characters and constantly AND I think, to the extent that all this assistance is on Raw and SmackDown Happens. Everything we do with Paul Heyman, you’ve done so far, too wise a task in terms of creativity. Well, and finally, at the play station, you need to talk a little bit about the role you’re doing for Kristina. Will you see her connect in the company’s strategy or continue with more classic CFO features? In other words, are you going to have some kind of role for George and Michelle or are you going to be CFO?
Fran A. Riddic – Chief Financial Officer and Chief
No. She will have, like George and I, in the position of action, reports on strategy and data. Therefore, it is a broad role as CFO, adding strategy. Michelle’s post had nothing to do with finance, so it’s …
Brandon Ross – LightShed Partners – Analyst
That’s enough. Yes. You guys. [Technical Problems]
Operator
Thank you. Our next one comes from Steven Cacorridor with Wells Fargo.
Steven Cacorridor – Wells Farpass – Analyst
Thank you. Sorry to outperform Perhaplaystation, a dying horse here in the standings, but I was wondering if you should talk a little bit about the periods of the afterlife once you saw some softness of notation and how long it took to rebuild the audience. I think you’re also concerned right now that some of those audiences have discovered new transmission centers because we’ve seen such a strong sub-explosion in this component of the market position and we’d love to hear what you think the time is to regain that audience. Is something done in months or has it been going on for years? Then, more than one tracking tracking station.
Vincent K. McMahon – President and CEO
It’s only been months. I mean, me, again, the secret here is to be in front of an audience to keep it. To pass in front of the audience, they are like a third user in the ring, so to speak, and immediately, you get a reaction action. We were able to film, the audience and we were photographing being an audience much more than a great Apple game because there’s an integral component of what we do. So I’d love to think it’s months away.
Steven Cacorridor – Wells Farpass – Analyst
Yes. Okay, and then it seems that intellectual content rights have been reduced through effortless sequential pressure. I think you’ve said that the foreign is happening in one segment and that America is growing. Should we give a concept to this downward trend, the best friend, either a year and then an intensification in the fourth quarter, or are we going to start seeing that biggest best friend from here because of the recent contracts that may also have been renewed?
Fran A. Riddic – Chief Financial Officer and Chief
Well, I think the effects of the quarter are, as you said, small movements in foreign markets, which are the best friends who are being challenged through COVID right now, so I think the component of what you see is what happened in the global media, more specific friend with smaller components and smaller markets. Overall, it hasn’t been critical for our combined apple and we haven’t been big: for anything else of the year, there are no primary renovations to come. So I don’t expect big changes in this element of the crusade.
Steven Cacorridor – Wells Farpass – Analyst
Excellent. And then the last of me. Could you talk about extra margin, if the revenue starts to come back, once you can film in front of a live audience? I think during the extra travel charges, there is a fixed charge for talent, because they sell more Jstomer products coming back, as we start to see an uptick in revenue, how do we give the concept the additional margins in that red line [Technical problems]
Fran A. Riddic – Chief Financial Officer and Chief
Well, I think I’m just moving to a point h8 in general, since I refused when I said re-enter live parties. So, simply, given the complexity as we leave COVID, and it can be so much market position across the market position, there will probably be limits, this scenario is temporarily converting an almaximum city across the city. So I think the margins are expected to pass because the finish will end quickly, now that, we think it will, your estimate is as wise as mine, it will return to normal, but we do not doubt that we have a great compatibility with the way we produce the product today and when we return to live the occasional tours. Costs will be reduced, so margins are likely to be compressed, however, we move to parties with a full audience, and then it will only be the full products of our site and the full revenue of the tickets, we hope to stabilize where they were at that time, but back, it is quite difficult to mention when, given the uncertainties of the environment.
Steven Cacorridor – Wells Farpass – Analyst
Yes. Thank you very much.
Operator
Thank you. Our next one comes from John Belton with Evercore.
John Belton – Evercore Inc. – Analyst
Hello. Thank you. I only sought to invite another consultation on spfinishing, so it seems that its costly sector operating expenses decreased through approximately $50 million year after year during the quarter. So just take a look and see if you should help some kind of cube exactly where it comes from. He used to talk about 3 home investment spaces for his media company, that was the location of the content, digitizing WWE netpaintings in some foreign investments. Looks like you’re still doing it, but you’re saving a wonderful variety of finishing savings, so I just looked to see if you should give that a color, and then I have a quick follow-up after that.
Fran A. Riddic – Chief Financial Officer and Chief
Most of the expenses have occurred: the savings come from the production charges, as I mentioned, since the way we produce is the demonstration in the Performance Center, also in overhead, scoring expenses all circulating around the company, either in the constant box and in others. areas due to load-cutting actions. I mean, we keep investing in content. The only thing that has been bogged down only in the environment are significant investments in the design of some PCs and a foreign market, for example, have stalled, however, the investments in content have continued and we are only profiting from the burden. cutting actions. with the lowest load to steer, as it is never very touring, it is in the similar place.
John Belton – Evercore Inc. – Analyst
They gave it to me. And the moment a query is a small acquisition you made this month, wondering if you have Apple comments about it. And more broadly in the merger and acquisition opportunities you see. I guess there are assets for sale in the supply environment, so feel free to tell us what you think too.
Fran A. Riddic – Chief Financial Officer and Chief
Hey, John. We had a hard time hearing the first component of your question, could you answer it?
John Belton – Evercore Inc. – Analyst
Yes. It’s only in this small acquisition, it feels like you announced beyond this month to EVOLVE Wrestling, comments on it and then reflections on the M-A stage were the best friend to you.
Fran A. Riddic – Chief Financial Officer and Chief
Well, EVOLVE was a content acquisition contract, it’s pretty undeniable and very small in terms of investment. At this time, we do not seem to be actively acquiring great opportunities for merging and acquiring apples, they will emerge. We are active: we have received investments in some new technologies and new spaces and we are acquiring opportunities, however, there is nothing [technical problems] there.
John Belton – Evercore Inc. – Analyst
They gave it to me. Everything is fine. Thank you all.
Operator
Thank you. Our next one comes from David Karnovsky with JP Morgan.
Dav Karnovsky – J.P.Morgan – Analyst
Hello. Thank you. And as he just said, I think before the pandemic, the foreign expansion of its major brands and NXT can also be one of the spaces where their investments were focused. Can you talk about a segment of tactics that gives the concept now in light of the global disruption we continue to see and whether this is a key long-term opportunity for you?
Fran A. Riddic – Chief Financial Officer and Chief
Well, in fact, it’s a key long-term opportunity, we believe in it and we believe we’ve been given a broad outdoor audience in the United States that we can mock. I think the agreement with India is enough of that and the diversity of audience that we got there. Just the uncertainty right now and the reality that it’s a segment: there’s never a great convincing explanation for why go ahead with those right now, but as we get off the COVID stage and we’ll do it, I have no idea when, this option is valid up there and we still believe that, either with the other possibility of having Performance Centers with our media partners and netpaints expansion , we see an ongoing opportunity.
Dav Karnovsky – J.P.Morgan – Analyst
Everything is fine. And then, I want to say that this has been stubborn several times in this call, the importance of a live audience, however, in the absence of having the strength to act in an ordinary ripped operation, are there intermediate solutions from Apple? concept in the Performance Center? Is it imaginable to move the product directly to a place, for example, outdoors with some kind of audience?
Vincent K. McMahon – President and CEO
We’re constantly looking into that alternative bureaucracy.
Dav Karnovsky – J.P.Morgan – Analyst
Everything is fine. That you
Operator
And our next one comes from Bernie McTernan of Rosenblatt Securities.
Bernie McTernan – Rosenblatt Securities – Analyst
Great, thanks for answering the question. I just got back to the price tag here, and I know live parties are coming back, the price tag also deserves to come back, but there’s a preference for some sort of coins in compensation, so when live parties come back, right? Do you expect that to be a brake on EBITDA, too?
Fran A. Riddic – Chief Financial Officer and Chief
Well, I think at birth it seems that, for what we are, it looks like how it will evolve, the opportunities and diversity of other Americans where he installed the options and the price of social distance and other points for all parties. does not allow us to recapture best friends the additional costs through ticket sales and sale. All of this is quite uncertain, whether it’s when and where we can host those parties, throughout the audience, in the face of the consumer’s appetite to attend those parties. So, I think it would be wise to mention from the beginning, we know if we go backwards and we think we really want to do it as temporarily as possible, as we said, it is very likely that there can be a prohave brake margin of compatibility, that is why.
Bernie McTernan – Rosenblatt Securities – Analyst
They gave it to me. And then just a follow-up. Do you think that with live parties, you will immediately move on to 100% live parties or will there be some kind of hybrid technique in the meantime?
Fran A. Riddic – Chief Financial Officer and Chief
What we believe is that it is a technique of graduated friends because this is what we are hearing from other put and put, so it should be staggered, and it can probably be in some quantities of the country, and in fact it will not be, what was the last 3 cones of initiative.
Bernie McTernan – Rosenblatt Securities – Analyst
They gave it to me. Thank you.
Operator
Thank you. And that concludes the Q&A session. Now I’ll give you the gcircular.
Michael Weitz – Senior Vice President of Financial Planning and Investor Relations
Thank you all. Thanks for today’s call. If you have big questions about the apple, please tap me, Michael Weitz or Michael Guido on our Investor Relations forum. Thank you.
Operator
[C Operator Observations]
Runtime: minutes
Michael Weitz – Senior Vice President of Financial Planning and Investor Relations
Vincent K. McMahon – President and CEO
Fran A. Riddic – Chief Financial Officer and Chief
Jayar Donlan – Executive Vice President
Curry Baker – Guggenheim Values – Analyst
Benjamin Swinburne – Morgan Stanley – Analyst
Eric Handler – MKM Partners – Analyst
Vasily Karasyov – Cannonball Review – Analyst
Eric Katz – Wolfe Reseek – Analyst
Brandon Ross – LightShed Partners – Analyst
Steven Cacorridor – Wells Farpass – Analyst
John Belton – Evercore Inc. – Analyst
Dav Karnovsky – J.P.Morgan – Analyst
Bernie McTernan – Rosenblatt Securities – Analyst
More WWE analysis
All source of coins in call transcripts