WWE's Streaming Service Ups Subs 25%28 Jul, 2016 By: Erik Gruenwedel
World Wrestling Entertainment (WWE) July 28 reported its subscription streaming service — WWE Network — topped 1.52 million subscribers in the second quarter (ended June 30). That’s an increase of 25% from the previous-year period. Revenue increased to $45.9 million, from $36.6 million last year.
The $9.99 monthly standalone service underscores WWE’s move toward digital distribution. Through the first six months of the year, digital engagement metrics increased more than 100% to nearly 8 billion and social media engagements increased 39% to 570 million versus the prior year.
WWE projects average paid subscribers to WWE Network of 1.49 million in the current third quarter, representing a year-over-year increase of about 27%. The subscriber forecast represents a sequential decline of 2% from the second quarter of 2016, compared with a 4% decline from the second to the third quarter 2015.
During Q2, WWE introduced new content for WWE Network, including “Camp WWE” and “Swerved Season 2,” which rank among the network’s top original series to date. The SVOD service is on pace to add more than 300 hours of original content in 2016, and more than 1,500 hours of archival content, which would result in an on-demand library of nearly 6,000 hours at year-end.