UPDATED – WWE Network reports 667,287 subscribers
April 7, 2014
WWE announced in a press release this morning that it has 667,287 subscribers to its network which launched this past February and “is well on its way to reaching its goal of 1 million subscribers by the end of 2014.”
UPDATED 9:05am PT – 4/7/14: It looks like that investors are not impressed with the 667K numbers according to Deadline.com and the sell off is more than just investors capitalizing on the stock price. Deadline states that at least one analyst predicted the sub number to be between 500K-800K on Friday. The original expectation was that it was to be at 1M after Sunday’s big event.
The press release comes just one day after Wrestlemania 30 aired without major tech issues on its network. The news appears positive for the company long term although short term WWE stock is taking a hit. In morning trading Monday, the stock is down almost $4 as it appears that many investors are selling off the stock.
The WWE also announced that it broke the record for the Superdome (Mercedez-Benz or Silverdome if you are Hulk Hogan) as its highest grossing entertainment event for the venue. The announced attendance was 75,167 for a gate of $10.9 million.
UPDATE: It looks like Wall Street is not impressed with the 667K announcement as it expected a higher number of subscribers. The stock is taking a big hit as shares have gone done at least 20% today. We will see how this number is spun as the WWE is set to announce a new rights fee agreement in the coming weeks.
The network announcement for its subscribers should be seen as a success as there were many concerned about tech issues that would scare many away. However, there were few reported glitches on any platform for yesterday’s big event despite the fact it was likely the most watched day for the network as most WWE subscribers and many curious non-wrestling fans tuned in to see it. Looking at this strategically, the timing of the announcement makes sense since one would think many signed up close to Wrestlemania to take advantage of the streaming as opposed to paying $70 on PPV.
The real test will be how (and if) the WWE can retain these subscribers. Wrestlemania was the big carrot for the network this year and realistically a one-time thing. How will the WWE continue to grow its subscribers to reach 1 million?
Based on this information, can we assume that UFC Fight Pass is having similar success? While the UFC will not release any information, the speculation is that it is doing well with its digital network and since it is now available for international fans, it probably continues to grow its subscriber base.