Market Overview

WWE Just Announced A Major China Expansion

WWE Just Announced A Major China Expansion

World Wrestling Entertainment, Inc. (NYSE: WWE) has made a big overseas push over the past year. The company may have made its biggest splash yet.

"Today's historic announcements further demonstrate WWE's long-term commitment to China," said WWE Chairman and CEO Vince McMahon. "Partnerships with PPTV and Expo Group, as well as the signing of Bin Wang, will enable us to engage our fans in China like never before."

Here are the three major announcements:

  • An exclusive multi-year agreement with PPTV to deliver its flagship shows Raw and SmackDown in Mandarin.
  • Its first live event in more than three years with WWE Live 2016 China on September 10 at the Mercedes-Benz Arena.
  • Signing Bin Wang to a developmental contract, giving him the opportunity to train to become the first-ever Chinese Superstar in WWE history.

The news boosted WWE's stock Thursday morning, up 5 percent at $18.69 shortly after the opening bell.

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"If things work out, we think having Bin would lead to people here talking about the product more," Executive VP of Talent, Live Events and Creative Paul Levesque, better known by Triple H, told ESPN. "Once the NBA found Yao Ming, they didn't even need to find a second or third or fourth guy. Once fans got hooked, they followed the same stars as other fans did. He would open the door for them to learn more about our other guys like John Cena and Seth Rollins."

Wang has spent the last two years training in Japan under WWE Hall of Famer Antonio Inoki.

The news is also encouraging for WWE Network.Throughout 2015, the Network launched in Germany, India and most notably, Japan.

“Because of what's happening in China today, in terms of being more open to western content...we've reached an inflection point," said WWE CFO George Barrios. He said WWE is looking to add its subscription streaming service in China in the next year.


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