WWE Network Streaming Subscriptions Decline, Company Looking at ‘Strategic Alternatives’

World Wrestling Entertainment’s flagship subscription streaming video service, WWE Network, Feb. 6 disclosed it lost 10% of its subscribers in the fourth quarter, ended Dec. 31, 2019.

The SVOD platform, which launched in 2014 and costs $9.99 monthly, ended the period with 1.42 million subs, compared with 1.56 million during the previous-year period. For the fiscal year, subscriptions fell 6%.

Network revenue, which includes pay-per-view, dropped 12% to $41.6 million, from $46.8 million. For the year, revenue fell less than 8% to $184.6 million, from $199.3 million.

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In a statement, WWE said it is pursuing several strategic initiatives that could increase the monetization of its content in 2020 and beyond. Options include distributing content in the Middle East and India, and re-evaluating alternatives for WWE Network.

“At this time, the outcome of these initiatives is subject to considerable uncertainty,” wrote the company.

Separately, revenue from other forms of media monetization, including live in-ring programming content in international markets, scripted, reality and other programming, as well as theatrical and direct-to-home video releases, declined 12% to $56.1 million from $63.5 million.

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New WWE Network programming in the quarter includes “Steve Austin: The Broken Skull Sessions” series, featuring conversations with WWE wrestlers and celebrity guests; “Survivor Series”; and new podcasts “After The Bell” and “The New Day: Feel the Power,” which debuted on Oct. 30, 2019 and Dec. 2, 2019 respectively.

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