WWE stock is down more than $5 today as of 12:55 p.m., and while fans will assume it’s because of The Undertaker losing to Brock Lesnar, ending The Streak, it’s actually something a little more troubling related to WWE Network.
WWE released its first set of detailed numbers for WWE Network on Monday, revealing that the Network, which launched on Feb. 24, has 667,287 subscribers signed up for the $9.99 a month service. The company had set a goal of reaching the 1 million subscriber mark by the end of the year.
Stock analysts have questioned the long-term viability of the WWE Network and specifically WWE’s ability to get to its 1 million subscriber mark, which the company has called a break-even point, and to then be able to push beyond break-even toward profitability.
It would seem that getting 667,000 signups in the opening six weeks would be viewed as a great sign by those same analysts, but as of 12:55 p.m. WWE stock was trading at $22.43 a share, down $5.59 a share from Monday’s open and down $8.56 a share from its 52-week high.
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Chris Graham
