WWE Tumbles As Investors Doubt Online Streaming Viability

Now watching

Next video starts in : 7 Play

WWE Tumbles As Investors Doubt Online Streaming Viability

WWE Tumbles As Investors Doubt Online Streaming Viability
Replay video
Up next

eBay & PayPal split; FCC may end NFL blackouts; Apple dealt tax blow

eBay & PayPal split; FCC may end NFL blackouts; Apple dealt tax blow Up next

eBay & PayPal split; FCC may end NFL blackouts; Apple dealt tax blow

Unlock your personal NFL Now stream by signing in to NFL.com

WWE Tumbles As Investors Doubt Online Streaming Viability

TheStreet.com Videos 1:02 mins

Shares of World Wrestling Entertainment tumble by more than 40% on Friday, making it TheStreet's Move of the Day. Joe Deaux says the company hit the mat after announcing late Thursday that its new $9.99-a-month online streaming video network will need 1.3 to 1.4 million subscribers in order to replace profits it will lose by eliminating pay-per-view. Chief financial officer George Barrios said in a press release: "Successful execution of our WWE Network strategy could significantly raise the Company's earnings profile and better reflect WWE's tremendous global appeal and brand strength." Investors were clearly concerned with the viability of the online network.

View Comments (0)