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World
Wrestling Entertainment® Launches WWE 24/7
New SVOD Service to Expand Business with Cable and
Satellite Partners
75,000-hour
library spanning 4 decades of ratings-proven programming
to supply content for new digital platforms, including
potential digital channel
New
York, N.Y., March 24, 2004 – World Wrestling
Entertainment has unveiled a major initiative intended
to utilize its 75,000-hour programming library to
build new mutually-beneficial businesses with its
cable, satellite and other worldwide television partners.
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
Trademarks:
The names of all World Wrestling Entertainment televised
and live programming, talent names, images, likenesses,
slogans and wrestling moves and all World Wrestling
Entertainment logos are trademarks which are the exclusive
property of World Wrestling Entertainment, Inc.
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.
Links:
WWE
24/7
World
Wrestling Federation corporate website
World
Wrestling Federation
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