Shares of WWE stock dipped more than 15% in the morning trading hours after the company’s announcement the WWE Network has 667,287 subscribers.
Below is a screen capture of the stock tumbling:
— Richard Gray (@wnwdotcom) April 7, 2014
Richard Reacts: Anything under 500,000 WWE Network subscribers would have been bad for WWE, anything over 1 million would have been excellent. WWE is simply in-between. They’re more than halfway to their target but they haven’t hit the mark where the service will be profitable. WWE CFO George Barrios has gone on record more times than I can count in saying that under 1 million subscribers, the company will view the Network as an investment. As long as they reach 1 million by the end of 2014, they will consider the WWE Network a success.