WWE Network Announces Expansion To Germany, Shares Pop Higher
- Shares of World Wrestling Entertainment, Inc. (NYSE: WWE) were trading higher by more than 3.3 percent late Friday morning.
- WWE announced it will launch the WWE Network in Germany.
- Subscribers will be able to access the English language version of WWE Network and receive all 12 pay-per-view events at no additional cost.
Shares of World Wrestling Entertainment popped higher after the company announced it will begin offering its WWE Network to German-based clients as of January 5, 2016.
WWE priced its network at $9.99 per month and includes access to the U.S.-based English language version of WWE Network. The service will also include all 12 pay-per-view events at no additional cost, along with 24/7 scheduled programming and access to the video-on-demand library.
Related Link: Why WWE Network Is 'Clearly' A Viable Business
"Germany is a strategically important market for WWE with a passionate and engaged fan base," George Barrios, WWE Chief Strategy and Financial Officer said in the company's release. "We are committed to growing our brand internationally, and global expansion of WWE Network is critical to achieving that goal."
The Network will initially be available on desktop, laptop, and mobile devices, and will be expanded to include over-the top box sets such as Apple TV, Roku, and others in time for the Royal Rumble event.
WWE's move into the German follows expansion into other global markets. The company announced in late October that clients in India will be able to access the WWE Network as of November 2 for the same $9.99 monthly fee.
After hitting a year-to-date high of $23.01 in early August, shares have dropped more than 23 percent.
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