The WWE announced their second quarter reports today, which also included the WWE Network subscription numbers. This announcement has been coming for a few days now, and with the information finally out, it will shed some light on the future of the WWE and its employees. The WWE Network is still a work in progress, and is continuing to improve, but at a slow rate.
First, here is the update on the WWE Network and the hits it is garnering:
“WWE Network has attracted an extra 161,000 subscribers since WrestleMania on April 6th and ended the quarter at 700,000 subscribers, reflecting a net addition of 33,000 subscribers.”
While it isn’t at 1 million subscribers, the WWE Network still isn’t global. However, moves are being made in order for more people to be able to access the Network. In the coming months, the WWE Network will be reachable by over 170 countries including Australia, Mexico, Spain, and the Nordics. That will enhance WWE’s reach and subscriptions will most likely skyrocket for a period of time.
On top of expanding their market, WWE is rolling out a new payment option that could cost the WWE Universe more money. Along with the $9.99 a month with a six-month commitment, WWE announced that customers could now pay $19.99 a month with no commitment. So, instead of a guaranteed $60, you can now only pay $20 a month and cancel at any time.
The next piece of news comes from WWE.com and their new partnership with Rogers Communications in Canada. To quickly summarize this deal, it is huge for the WWE and their global reach. Rogers is the television monster in Canada and will broaden the strength of the WWE Network.
“Rogers Communications and WWE today announced a historic 10-year broadcast and multimedia agreement, making Rogers the exclusive distributor of WWE’s flagship programming in Canada through 2024. The deal extends WWE’s current programming on Sportsnet 360 and includes the right to distribute WWE Network as a premium linear channel, with a preview beginning August 12.”
More titles are currently ready to update on the WWE Network such as WWE Rivalries along with the addition of the Monday Night Wars program. On top of that, the WWE Network will soon be available on Smart TV’s and Blu-ray players. That’s a huge deal because Netflix has trouble being on Blu-ray and that will give the Network a definitive edge. Plus, that saves the customers without gaming systems the ability to get the Network much easier.
Massive layoffs are expected throughout the WWE and PWinsider reports that 10 percent of their employees will be released from their respective contracts. The layoffs can range from people in production, marketing, travel, wrestlers, announcers, secretaries, and even backstage officials.
As Justin Labar of WrestleZone put it:
Spoke to several #wwe sources today and they said the hype is accurate and tomorrow is expected to be a dark Thursday. Don’t be surprised…
— Justin LaBar (@JustinLaBar) July 31, 2014
It will be dark day indeed and the worst hasn’t even started yet. Good news can be found though, and that is the WWE stock opened today at a 4 percent increase. This was after the WWE Network information was released. However, in a quick update provided by Wrestling News Source, there were 161,000 new subscriptions this quarter, but 128,000 people dropped the WWE Network.
More light will be shed about the WWE Network situation, as well as the massive layoffs that are expected to take place. We will keep you up to date on the situation as it transpires. One thing is for sure: with the collapse of TNA, it is a dark time in wrestling.
[Image via wrestlingrumors.net]