Announcing its third quarter earnings, WWE said it continues to develop the international platform for WWE Network and plans to make the US version of WWE Network available in the UK on an over-the-top basis from next month.
The firm said beginning November 1, it will also introduce a new price plan, allowing customers to subscribe for US$9.99 (€7.92) per month and cancel at anytime. Previously viewers were required to sign up for an initial six-month period.
In the quarter, WWE said that WWE Network added 31,000 subscribers, representing a 4% increase from June 30. Through September 30, WWE Network said it attracted roughly 971,000 unique subscribers, with 75% of these active as of that date.
“During the quarter, we delivered stronger financial performance than anticipated and surpassed our guidance while making significant progress on the execution of our WWE Network strategy,” said WWE chairman and CEO, Vince McMahon.
“To capitalise on the substantial opportunity created by WWE Network, it’s time to remove all the barriers to those that want WWE. We are excited to introduce a new simplified price plan at $9.99 per month, and like Netflix with no commitment/cancel anytime. This reflects our belief in the broad appeal of WWE Network content.”
WWE launched WWE Network in the US earlier this year, and in August said it was rolling it out to 170 territories including Australia, New Zealand, Hong Kong, Singapore, Mexico, Spain, and the Nordics. The UK launch was originally slated for October this year.
For the quarter, the company reported a net loss of US$5.9 million, compared to net income of US$2.4 million the third quarter last year. Revenues increased 6% to US$120.2 million from the prior year due to growth in North America.