WWE's stock is actually up today! Experts thought they were going to lose $15 million, they lost just under that, so the people who invest in these things are happy enough. There sure appear to be underlining problems.
Despite all the promotion they've done on TV, WWE's barely closer to it's 1,000,000 target this year - up just 33,000 subscribers as of 06/30. (They'd be well in 2016 before reaching 1 million at that pace.) That's the net increase - something else is going on here.
On the good side, that means WWE was actually successful in adding 161K new people. They would've been right on target if they hadn't lost anyone. However, they somehow lost 128K (~20%) subscribers even though everyone should still be under the "6 month commitment." The Network started on 02/24. Everyone should still be chained to the commitment.
It got out that, if you signed up thru Paypal, you could cancel the Paypal reoccurring payment and get out before the six months commitment. On the other hand, Meltzer said only 5% of the people were signing up thru Paypal. That doesn't seem right now. I have no idea what's gone on there. WWE didn't seem to know either, just sort of saying "these things happen" on the conference call.
If ~20% are going thru extreme measures to get out before six months, what will be like in August when people can leave much easier? You have to opt-out so it still takes some work, but it's definitely possible that (US) subscriber number even goes down next time it's announced.
WWE announced - they're going international 08/12, everywhere they can cleared. There still are a lot of big markets who won't get it right away, but they've accelerated the schedule greatly from the "late 2014/early 2015" original plan. It'll all be in English no matter your country, with the vague idea of adding native languages later on.
- Canada will be different. Rogers will be launching a WWE Channel on cable (also 08/12, possibly same subscription price, and you'll also get access to the Network app - though Rogers can put the content elsewhere and may ad adds.) Rogers will also get all broadcast rights to all the shows.
- There will be new options to pay $20 for a single month, or to pay $60 for six months instead of paying over six months. (It doesn't sound like it's now required to pay all $60, which means people who are in for a show and canceling can probably still figure out a way to pay just $10/month.)
- massive cutbacks. 7% of the workforce is being cut. The number going around yesterday was 10%.
WWE says the cutbacks will be so much that they can now break even on the network at 500,000 (used to be 1.4 million). They're making more money than they did on PPV if they get to 1.5 million (used to be 2 or 3.)
If that number is true, then they'll make it thru OK. It's got to take some big cut backs to get the break even down so much. People are going to feel it.
I get a renewal notice when I sign into the network. I am still logged in, and there's no way that I see to just go watch the network. So, they may be counting me as a "cancelled" but I haven't. I just haven't re-upped yet.
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Originally posted by StaggerLeeI get a renewal notice when I sign into the network. I am still logged in, and there's no way that I see to just go watch the network. So, they may be counting me as a "cancelled" but I haven't. I just haven't re-upped yet.
Instead of thinking of them tracking "cancelled" subscribers, they are just tracking paying subscribers.
You have not re-upped, so you are being counted as one of the 128,000 people they lost.