WWE Announces 700,000 WWE Network Subscribers
WWE has announced their 2014 Second Quarter Results, including an updated subscriber count for the WWE Network. Here are some highlights from the press release and investor conference call:
– WWE Network ended the quarter with 700,000 subscribers, a net addition of 33,000 subscribers.
– WWE Network is going International on August 12th, premiering in Canada, Australia, New Zealand and Mexico. The WWE Network hits the UK until October.
– WWE Network will be introducing a new payment plan structure later this year. You can still pay $9.99/mo with 6-month commitment, or pay $19.99 month-to-month at $19.99. The monthly plan is still an excellent value for fans who want to buy pay-per-views ala carte without a 6-month commitment.
– WWE Network is launchig on some smart TVs and Blu-ray players in mid-August.
Here’s the WWE Network section from the WWE 2014 Second Quarter Results press release:
The quarter was highlighted by the ongoing ramp up of WWE Network, which attracted gross additions of 161,000 subscribers since WrestleMania on April 6th and ended the quarter at 700,000 subscribers, reflecting a net addition of 33,000 subscribers. To drive ongoing subscriber growth, the Company continues to execute a five-part strategy that includes making the network available in new geographies, creating new content, expanding distribution platforms, developing new features and enhancing its marketing. Critical aspects of this strategy include making WWE Network available in international markets and completing a new partnership with Rogers Communications, which provides the rights to distribute the network in Canada.
- Customer Engagement: Viewer data indicates that, on average, 91% of subscribers access the network at least once per week and use 2.5 devices to consume network content. Moreover, consumer research indicates that 90% of subscribers are satisfied with WWE Network (with 51% extremely satisfied and 39% somewhat satisfied).
- International Availability: The Company plans to make the U.S. version of WWE Network available on an over-the-top basis starting August 12th in over 170 countries and territories, including Australia, New Zealand, Hong Kong, Singapore, Mexico, Spain and the Nordics, among others. The network is expected to be live in the U.K. by October 2014. Plans for the network in Italy, UAE, Germany, Japan, India, China, Thailand andMalaysia will be communicated at a later date.
- Canada: The Company has entered into a new 10-year partnership with Rogers Communications, a leading media enterprise in Canada, under a landmark television programming and WWE Network agreement. The partnership facilitates the launch of WWE Network as a traditional a-la-carte Pay-TV channel in Rogers cable systems with a preview beginning August 12 and thereafter through other Pay-TV providers outside Rogers footprint. The partnership also renews Rogers license of the Raw and SmackDown television programs, and grants Rogers distribution rights to the Company’s pay-per-views.
- Consumer Marketing: To enhance awareness, additional marketing investment is planned around the popular SummerSlam pay-per-view event in August. The Company will also introduce new payment plans in August, including a $19.99 monthly plan (with no commitment) and an upfront one-time payment option for its existing $9.99 per month offering (with six month commitment).
- Other Developments: Content coming to WWE Network includes The Monday Night War and WWE Rivalries, the most recent addition to the networks program schedule, both of which provide a documentary-style look at some of the greatest moments in WWE history. Expanding current distribution, WWE Network is launching on several smart TVs and Blu-ray players in mid-August. The Company also plans to deliver a new “resume play” feature later this year.