WWE’s OTT Progress

WWE’s direct-to-consumer OTT network’s paid subs have increased 24% YOY to 1.46mln. “With a backdrop of more nets going OTT, we think the WWE Network’s long-term goal of 34mln global subs is achievable and transformative,” Wells Fargo Securities told clients. WWE Network fell slightly short of the analysts’ 1.49mln prediction. Net income rose to $11.1mln vs $10.4mln a year ago. WWE projects 4Q adjusted OIBDA of approximately $20mln-$24mln and average paid subscribers to WWE Network of 1.40 million (+/- 2%). That’s a 4% sequential decline for the OTT network, but a 13% increase over 4Q15. As is the case these days, WWE CEO Vince McMahon was asked during Thurs’ earnings call if WWE would consider selling itself. His response—WWE is open to anything that makes financial sense. BTIG analysts see myriad potential buyers, including Disney, Fox, Comcast, AT&T and Verizon.