July 25, 2019
World Wrestling Entertainment (WWE) July 25 disclosed that its branded subscription streaming video service, WWE Network, ended the second quarter (ended June 30) with 1.69 million subscribers, which was down 6% from 1.79 million subs during the previous-year period.
WWE expects subscriptions of the $9.95 monthly service in the current third quarter to drop nearly 10% to 1.53 million, or 8% year-over-year.
“Given the actual and projected subscriber declines, the company does not expect to achieve record subscribers for the full [fiscal] year,” WWE said in a statement.
During the quarter, WWE said it made progress on “critical strategic initiatives,” which included completing content distribution agreements in key international markets and developing the foundation for the next iteration of WWE Network.
Specifically, the company completed content distribution agreements with BT Sport in the U.K., Fox Sports in Latin America and PP Sports in China.
WWE contends these partners will help it reach its fan base on a global basis. The company also initiated the transition of WWE Network to a new operating system on July 24, which will it believes will provide users with a more intuitive interface and enhanced search functionality.
The new platform enables the addition of free and premium program tiers as well as content in multiple languages.
WWE continued to produce branded TV shows, “Monday Night Raw” and “Smack Down Live,” while developing other original programs across platforms.
These included new seasons of “Miz & Mrs.” and “Total Bellas” for USA Network and E!, respectively; new series, “Fight Like a Girl,” for the mobile platform, Quibi, and live-action family movie, The Main Event, premiering on Netflix in 2020.