WWE Network Ending?
"Strategic alternative"?
WWE has just released its full 2019 financial report, and an early scan yields an interesting statement on the future of the WWE Network. Under the Full Year 2020 Business Outlook section, the following is written:
"The Company is pursuing several strategic initiatives that could increase the monetization of its content in 2020 and/ or subsequent years. These include distribution of content in the Middle East and India as well as the evaluation of strategic alternatives for the Company’s direct-to-consumer service, WWE Network."
Brandon Thurston of Wrestlenomics - the preeminent analyst of WWE's financials - has described the wording here as "curious".
Following the shock firings of George Barrios and Michelle Wilson, Mike Johnson of PWInsider alluded to "irreconcilable differences" between the two former Co-Presidents and Vince McMahon. It is believed that Barrios and Wilson were the key proponents behind the launch of the WWE Network, the subscriber count for which has fallen, again, in 2019. The company's growth in 2019 was "partially offset" by "a decline in WWE Network subscription revenue," according to the results. 10% down to 1.42 million is the latest figure.
What follows is pure speculation, but it's not beyond the realms of possibility that this was grounds behind the recent change in management. There is no further detail - you'd suspect this will be flagged on the imminent conference call - but "strategic alternative" doesn't read much like an extra $/£5 for EVOLVE and PROGRESS...