World Wrestling Entertainment Launches WWE 24/7
The first step is the launch of WWE 24/7, a subscription video-on-demand service that will feature highly-rated Pay-Per-View, cable and syndicated broadcast content, best-selling home videos, new original productions and proprietary broadband, from the WWE® and other acquired national and regional wrestling brands. A recently launched in-house business development unit, WWE Enterprises, will work directly with MSOs, affiliates and satellite providers to create, customize and cross-promote these new revenue-generating services.
The announcement was made here today at a press luncheon hosted by World Wrestling Entertainment, Chairman Vincent K. McMahon and CEO Linda E. McMahon.
“WWE is ready to move even more aggressively into the digital age by providing new services that will fit with the active lifestyles of our fans and meet their demand for new and innovative content,” said Vince McMahon. “Our fans want more WWE and classic sports entertainment programming, and we have demonstrated our track record of providing content of the highest quality and value. I’m confident we can move into this new distribution platform for television as successfully as we have for syndication, cable, broadcast and Pay-Per-View.
WWE 24/7, Wrestling Any Time, All the Time
Over the past three years, WWE has aggregated the best of professional wrestling television by strategically acquiring the libraries of other national and regional promoters, including WCW™, ECW® and AWA®. The result is an archive of more than 75,000 hours of programming content, 25,000 of which was previously aired or released as finished product. This is not only one of the more extensive video libraries in television, but the world’s largest dedicated to wrestling and sports entertainment.
The first opportunity for fans to enjoy this content comes with the launch of the subscription video-on-demand service, WWE 24/7. WWE 24/7 will make available approximately 20 hours of content per month -- 4 to 5 new hours per week on average. The content includes the best of past cable, broadcast, Pay-Per-View and home videos from WWE and other leading promoters.
Customized broadband content will be created for MSOs’ websites and other distributors promoting the new offering. WWE also anticipates providing content on a free-on-demand (FOD) promotional basis to spur trial and help its partners promote these new services. In addition, library content prepared for “evergreen” use will be made available selectively for existing television partners worldwide.
“Our mission is to put our proven, highly-desirable content into new distribution channels that entertain our fans worldwide and generate revenue for our
distribution partners and WWE,” said Linda McMahon, “Every business loves the prospect of steady monthly income. WWE 24/7 is the beginning of a reenergized effort to serve our partners by building incremental businesses that increase their revenues and acclimate their customers to exciting new digital and high-speed services.”
WWE Enterprises, In-House Unit Dedicated To Building and Servicing Partners
WWE recently created an in-house unit to work directly with cable and satellite providers to both market WWE 24/7 and strengthen its affiliate relationships. WWE Enterprises will be headed by Senior Vice President Tom Barreca, who is using the WWE’s vast digital library and intellectual properties to create and service these new partnerships.
Barreca was most recently Senior Vice President of AMC Digital Ventures, where he directed all non-network television business and ventures for AMC and WE cable networks, including video-on-demand, interactive TV and digital set-top box programming and licensing. Barreca launched HA!, Comedy Central and MTV Europe, and also worked at the noted animation studio Hanna-Barbera, where he successfully used the extensive libraries to create new revenue streams and partnerships under the Cartoon Network brand.
“A long-standing goal of the WWE has been to find a deeper way to do business with cable, satellite and all of our television partners worldwide,” added Barreca. “We’ve dedicated a significant amount of energy and thought into building a library of digital wrestling content that is primed for utilization with all new digital technologies and distribution platforms. We are now creating a dedicated Affiliate Marketing and Sales team to support the launch and growth of WWE 24/7, as well as pursue promising, direct business relationships. We are serious about becoming a leading player in these new digital services, just as we led the way in developing the Pay-Per-View industry.”
World Wrestling Entertainment, Inc. (NYSE: WWE) is an integrated media and entertainment company headquartered in Stamford, Conn., with offices in New York City, Los Angeles, Toronto and London. Additional information on the company can be found at wwe.com and corporate.wwe.com. More info on WWE 24-7 can be found at www.wwe24-7.com.
Media contact: Gary Davis, 203-353-5066
Investor contact: Michele Goldstein, 203-352-8642
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Forward-Looking Statements: This news release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, which are subject to various risks and uncertainties. These risks and uncertainties include the conditions of the markets for live events, broadcast television, cable television, pay-per-view, Internet, entertainment, professional sports, and licensed merchandise; acceptance of the Company’s brands, media and merchandise within those markets; uncertainties relating to litigation; risks associated with producing live events both domestically and internationally; uncertainties associated with international markets; and other risks and factors set forth from time to time in Company filings with the Securities and Exchange Commission. Actual results could differ materially from those currently expected or anticipated.