I’m a massive fan of the WWE Network. I’ve been a subscriber since day one, I truly believe it’s a great value, and do not think fans should cancel the service. However, if fans are truly dissatisfied with the current state of the WWE, there is absolutely no better way to voice displeasure with the company than by cancelling service.
Since becoming a publicly traded company, the WWE has had to deal with an entity that is even more demanding and impatient than hardcore fans: shareholders. Indeed, the company could be on top of the world one day and hit rock bottom the next. With the WWE Network, the company has essentially put all (or at least most) of its eggs in a single basket.
By offering the company’s monthly pay-per-view for only $9.99, the WWE has decimated their former pay-per-view model. Who’s going to buy those $14.99 DVDs anymore when you can see the content a week later (along with thousands of hours of additional content) for only $9.99? In short, aside from television deals for Raw and Smackdown, merchandise sales, and live shows, the WWE Network, for all intents and purposes, is now the WWE.
The WWE fans are not idiots. Following the disastrous Royal Rumble, you didn’t see #DontWatchRawTomorrow or #StopBuyingWWEMerch trending. No, instead they went right for the heart with #CancelWWENetwork. It was trending during and after Sunday’s Rumble, and I can imagine Vince McMahon thought he was hallucinating when he woke up the next morning and saw it was still a top trend.
Needless to say, the WWE went into full-on damage control mode yesterday, releasing the latest WWE Network subscriber numbers a few weeks early. It was originally announced that the company would release the latest numbers on February 12th as part of the latest earnings report.
They clearly wanted to stop the bleeding, announcing they have surpassed one million Network subscribers. The news was well received too, as WWE stock shot up almost 20 percent on Tuesday following the announcement.
