Forty-two days after its official launch in the U.S., the WWE Network passed half its goal of a million subscribers.
The Connecticut-based network has reached 667,287 subscribers, based on its statement released on April 7. WWE Network is the first streaming network that provides 24/7 access to live and scheduled family entertainment on various platforms: television, pay-per-view, digital and publishing. Latest data makes WWE Network the fastest-growing digital subscription service, says research.
The announcement came after a historic WrestleMania(R) 30 event aired live on the WWE network and on pay-per-view through cable and satellite providers from a jam-packed Mercedes-Benz Superdome in New Orleans. The streaming quality of the signature event has so far received positive feedbacks based on other reports and this could emphasize the possibility of the network to gain more subscribers who are on other subscription services and to achieve its target before the year ends.
“The subscription numbers for the new WWE network are very solid and healthy,” said analyst Kim Opiatowski of The Vertical Group.
However, further research says some stockholders – including two Wall Street stock analysts – have unloaded their shares a day after the signature event, noting that the latest figures on the stock market have appeared to be disappointing and unsatisfying for them. Observers said the investors must have been expecting for a higher figure. Nevertheless, the majority has remained with the network, looking ahead with so much promise from it.
Opiatowski, however, warned that 2014 could be unstable as it has been in the stock market.
“Results for 2014 could vary dramatically from our estimates depending upon the company’s success and timing in signing up subscribers and resulting cannibalization of its pay per view base. Another area of concern is the cost of creating original content to air on the 24/7 WWE network and the balance between content costs and the addition of new subscribers,” she pointed out.
The network is available on a sixth-month subscription at $9.99 through the WWE.com. However, word has been going around that the monthly subscription rate might jump between $11.99 and $12.99 sometime this year. Still, it’s way lower in comparison, because the events shown by the network cost viewers up to $59.95 before.
WWE network is accessible on several connected devices such as Apple TV, Xbox 360, Sony PlayStation(R) 3 and 4 and Roku streaming devices. It is also accessible through the WWE App on devices such as Apple’s iPhone and iPad, Android devices, Amazon’s Kindle Fire and on laptops and desktops via the WWE.com.
The network has only been launched in the U.S. on February 24. Word says it will be rolled out later in 2014 or early in 2015 in countries such as UK, Canada, Australia, Hong Kong, Singapore, Nordics and New Zealand. It has been broadcasting on over 150 countries and on 30 languages, thus reaching over 650 million of residences worldwide.
WWE Network has offices in Mexico City, Shanghai, Tokyo, Singapore, Mumbai, Los Angeles, New York, Miami, London and Munich.