WWE-Case Analysis No.1
The World Wrestling Entertainment, also referred to as the WWE, is an integrated media and entertainment company that has a wide array of businesses that have a very passionate loyal customer base. It has been considered the recognized leader in sports entertainment for more than twenty five years. The WWE mission statement captures the WWE purpose and what it intends to do. It states,” We seek to be a preeminent global provider of entertainment that evokes a uniquely passionate emotion from our fans. We will continue to leverage our content and talent across all media platforms to drive revenue and strengthen our brand.” The WWE vision declares what the WWE would like to see in the future. This vision is part of their business strategy that can be found at www.coporate.wwe.com . The WWE business strategy according to the WWE Corporate Website states, “Our formula is straightforward. We develop compelling content anchored by our Superstars. We market this content to drive television ratings, which, in turn, drive pay-per-view buys, live event attendance, WWE.com traffic, and branded merchandise sales and other business initiatives. Our strategy is to capitalize on the significant operation leverage if our business model through the distribution of this intellectual property across existing media platforms, as well as new and emerging distribution platforms. We are working to expand the mainstream potential of the WWE brand in domestic and international markets, develop extension businesses off the WWE brand, fully develop our Internet presence as an entertainment and advertising platform, and develop new programming and sports entertainment brands that leverage WWE’s core competencies. As part of our business strategy, we continue to pursue initiatives to strengthen our brands, expand internationally, effectively use our valuable library of wrestling content, and explore options in filmed entertainment. The WWE Corporate objectives pertain to their four revenue reporting segments which include the following: Live and Televised Entertainment, Consumer Products, Digital Media, and WWE Studios. Live and Televised Entertainment incorporates live performance events, the sales of merchandise at live events, television programming and pay-per-view, and video on demand programming. The consumer products segment consists of video games, toys, books, as well as other consumer products sold by third parties who are licensed to sale the WWE brand name. Magazines and home video products are also included in the consumer products segment. Digital media includes ecommerce, online advertising, broadband, & mobile consumer services. WWE Studios focuses on filmed entertainment as well as reality TV.
If I were a corporate officer for the WWE, I would propose a mission statement that includes the company name and doesn’t narrow it’s audience to simply it’s fan base. It would read, “World Wrestling Entertainment seeks to be a dominant global provider of sportsmanship and entertainment that creates a certain mood for our audience. We will continue to expose our talent increasing our demand across all emerging media platforms to strengthen revenues as well as the brand power of the WWE.” My vision for the organization would include proposals of expanding ecommerce and introducing several more websites that promote the WWE Brand. I would increase online advertising. I would also try to increase more venues to showcase the WWE Superstar talent. The WWE business model displays the percentage of revenues produced by each market segment. According to this business model, which is also on the www.corporate.wwe.com website, shows that twenty percent of revenues are derived from television, which includes five hours of prime time programming per week in the US as well as one hundred and thirty other countries, twenty one percent of revenues are produced from pay-per-views, which had five million buys in the year 2007,...
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