Friday, March 29, 2024
News​BREAKING REPORT: WWE Trying To Sell Their Entire Library To Warner Bros.

​BREAKING REPORT: WWE Trying To Sell Their Entire Library To Warner Bros.

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The following is an article from TheWrap.com:

Warner Bros. is in talks to acquire the WWE library, two individuals
with knowledge of the negotiations told TheWrap.

Warners Bros. and the
WWE decline to comment.

While the financial terms of the deal were not
disclosed, the library is estimated to have nearly 150,000 hours of content,
consisting of television shows, pay-per-view events and house shows dating back
to the 1950s. It also contains a large selection of the visual history of modern
professional wrestling, and is currently held by Cinedigm.

An insider
with knowledge of Cinedigm’s WWE contract told TheWrap there is no end date as
yet, but the company is transitioning away from the library.

The WWE
Network, which launched in February, has made use of the library but hasn’t
received enough monthly subscribers to make up for its lost pay-per-view orders.
At $9.99 per month, it needed 1.3 to 1.4 million subscribers, but the company
closed its first quarter with just under 670,000 subscribers and declining PPV
revenue. The WWE Network believed it would reach one million subscribers this
year.

The WWE Network is a 24/7-streaming network that features 12 WWE
live pay-per-view events, original programming, reality shows, documentaries,
classic matches and more than 1,500 hours of video on demand at
launch.

Basically, we’ve been trying to tell some of you guys this for MONTHS now … the WWE
Network #’s are WELL BELOW what they wanted/thought they could get. Hopefully
this is proof that you see now. It’s sad as most of us wanted the Network to
succeed but it’s simply not happening. WWE would need to go back to traditional
PPVs … and take a HUGE LOSS as they basically said “FU” to PPV companies hoping the Network would work.
Now … the PPV companies would set the profit split as WWE comes “begging back”
…. something like a 60/40 (maybe more) split in favor of the cable providers.
A HUGE loss for WWE if this happens. As noted, the network is failing #’s wise
… and WWE knows it. Not good. It’s possible WWE may try to “merge” with UFC’s network as sources say they are paying significant money to acquire a number of MMA libraries. A source with knowledge of two content libraries that UFC doesn’t own said
that negotiations for purchasing them has reached significant amounts
of money. WWE would surely negotiate with them b
efore they go back to traditional PPV events. The issue
is …. would UFC be willing to combine networks with WWE?

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