Free Version of WWE Network Now Available for Fans

WWE (WWE) yesterday unveiled the Free Version of WWE Network, the company’s award-winning digital streaming service, unlocking a vast portion of its content library.

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Founded in 1952 by Jess McMahon, grandfather of current CEO Vince McMahon, WWE has since grown to be the largest wrestling promoter in the world. It consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience.

The Free Version of WWE Network will include new shows, original series, recent episodes of WWE’s flagship programs, select historic WWE pay-per-view events, and weekly WWE highlights.

“The launch of WWE Network’s Free Version is a key component of our company’s digitization strategy and a new way for all fans to be able to experience premium WWE content,” said Jayar Donlan, WWE Executive Vice President, Advanced Media. “As we continue to reimagine WWE Network’s offering, the Free Version will serve as an effective way to reach a broader group of consumers and allow them to experience the history and spectacle of WWE.”

Laura Martin of Needham recently rated WWE a Buy with a $45 price target. She wrote: “Although COVID-19 adds uncertainty to WWE’s live event revenue, the negative impact on WWE’s profits and FCF is muted owing to cost savings.”

Martin went on: “What we like most about WWE’s valuation is that the 5-year contracts for Raw and SmackDown rights globally are recurring visible revenue (ie, a bond) plus the OTT Network and WWE’s library assets represent upside optionality (ie, the warrant).”

Analysts have a Moderate Buy consensus on WWE stock, with 6 Buy, 1 Hold, and 2 Sell ratings. WWE stock has risen 9% to $47.15 over the last month, but the average analyst price target of $50 still leaves 12-month upside potential of 6%. (See WWE analysis on TipRanks.)