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WWE Network 'on track to 1 million subscribers', but far from there yet

This morning WWE issued a press release announcing that their WWE Network was on track to get one million subscribers before the end of the year, but they're still a few hundred thousand shy of that goal.

It's still too early to say whether the WWE Network will be a success or not.
It's still too early to say whether the WWE Network will be a success or not.

As promised, WWE issued a press release earlier this morning announcing the subscription figures for their WWE Network. Can I have a drumroll please? Here's the magic number, Cagesiders:

"WWE (NYSE:WWE) today announced that WWE Network has 667,287 subscribers and is well on its way to reaching its goal of 1 million subscribers by the end of 2014 just 42 days after launching in the U.S., making it the fastest-growing digital subscription service. This announcement comes following a historic WrestleMania 30, which aired live on WWE Network as well as on pay-per-view through satellite and cable providers from a sold-out Mercedes-Benz Superdome in New Orleans."

Given the rumours that WWE were going to be able to proclaim a strong number right out of the bat, with many predicting much higher, the actual tally is mildly disappointing, but far from a complete disaster.

It's a good base to build upon, especially if a significant percentage of WWE fans were put off from subscribing to the WWE Network due to the highly publicised initial signup problems and the stream of their first live event, NXT ArRIVAL, crashing before the main event.

Having proven that these teething problems are a sign of the past by airing their biggest show of the year, WrestleMania 30, for free on the WWE Network without a serious hitch, anyone who was on the fence about signing up should now come onboard.

Although the WWE Network has a good shot of breaking even before the end of the year, that they're still so far away from hitting that target likely means that their stock price will take a significant tumble today. We'll keep you posted on that news, Cagesiders, as the day progresses.

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