The company I decided to write about is a company that I am a huge fan of and have been all of my life, that company us World Wrestling Entertainment (WWE). They are a public company that’s primary product/service they provide is Professional wrestling and entertainment. They also have their hands on films, original music, video gaming, merchandise sales, and licensing of products and services. It is a billion dollar conglomerate that almost has a monopoly on it’s industry as it has bought out most of the major competition they were facing. The company was founded by Vince McMahon, who is also the acting CEO and Chairman of the Board, when he bought the preceding company from his father in 1980 and renamed it World Wrestling Federation. This …show more content…
A few years ago WWE launched their very own app which is accessible on all platforms and requires a monthly subscription of $9.99. The app was designed to host all of WWE’s library going all the way back to the early 1980s into the current day. This includes every monthly Pay Per View, and every weekly show that they have had. The app also has original programming from the WWE as well as docuseries that they do occasionally. WWE has the longest running weekly show on cable Television, Monday Night Raw which still runs to this day live every Monday. The app had a very rough start in the beginning as not many customers were subscribing after their complimentary free first month. As a result since the company invested so much funding into the app and weren’t getting the money back from subscribers, stock prices dropped and the company hit a rough patch financially. In the last year or more WWE started to recover as they kept coming up with ways to bring in more and more subscribers by adding more programming, persistent marketing and advertising of the app, and complimentary months. The stock has risen and continues to rise as the company looks to continue the improvement of the …show more content…
So WWE sort of has a monopoly on the professional wrestling industry. The biggest advantage that separated WWE from all competition is one person and his name is Vince McMahon. His personal drive and will along with refusing to lose with dedication coupled with his marketing genius drove his company to the top and he has never looked back since. Vince McMahon is over 70 years old and he is still involved in every aspect of the company’s day to day operations and he still has the final say on all decisions. His commitment to success and his obsessed nature for the business of wrestling has put him amongst the most successful promoters in American history. TNA has tried to reinvent themselves by using the online platform to stream its product but that will be hard to compete with the tv money that WWE receives from syndication, not to mention that WWE has the longest running weekly program on