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WWE, an organization that is already king of the ring on social media, will attempt to expand its online presence this year with the $6.5 billion sports entertainment company hinting that it may put itself up for sale.
WWE, an organization that is already king of the ring on social media, will attempt to expand its online presence this year with the $6.5 billion sports entertainment company hinting that it may put itself up for sale.
WWE surpassed 20 million followers on its flagship TikTok account during its most recent quarter, the first sports league to do so, and it’s launching three international TikTok accounts after the WWE Espanol TikTok handle reached nearly 2 million followers in its first year, according to the company.
WWE’s presence online is already broad and it does not appear to be slowing down.
The company’s YouTube channel topped 92 million subscribers in the fourth quarter, making it one of only 10 channels on the platform to surpass the 90 million subscriber mark, according to Paul Levesque, the company’s chief content officer and director who wrestled under the name Triple H.
To put those numbers in perspective, the National Basketball Association has 19.8 million subscribers, the National Football League has 10.6 million, and Major League Baseball has 4.05 million.
Part of the reason is that, unlike the NFL, NBA and MLB, the WWE has no off season. It churns out new content from television shows and premium live events all year long and its fans eat it up.
The online presence of the company is so pervasive that it seeps into the social media posts from some of the world’s biggest athletes.
After defeating the Philadelphia Eagles in Super Bowl LVII, Kansas City Chiefs quarterback and MVP Patrick Mahomes posted a photo of himself on Twitter holding the Vince Lombardi trophy in one hand, and a WWE belt in the other.
That photo has been viewed more than 23 million times and that number keeps rising.
Constant innovations that are blended with entertainment sets WWE apart on social media platforms, said Christopher Zook, chairman and chief investment officer of CAZ Investments.
“It has consistently found ways to generate interest and stay ahead of the growing changes in consumer behavior,” Zook said. “The viral, fan-service nature of their content is how they have built so much staying power.”
Increased sports viewership has put a premium on the value of organizations with a large following and that moves WWE to the front of the line for companies looking to expand into new areas, said Zook, particularly when seeking to reach key demographics willing to spend.
And the platforms on which the WWE is focused increasingly attract a crowd with discretionary income to spend.
Among those between the ages of 18 and 29, 95% say they use YouTube, according to a Pew Research Center survey on social media use by U.S. adults in 2021.
TikTok is expected to overtake Facebook next year as the most-consumed social network among U.S. adults over the age of 18, according to Insider Intelligence. The research firm expects 18-to-24-year-old TikTok users in the U.S. to spend an average of 1 hour on the platform every day this year.
And WWE has been quick to partner with people that have a massive following on social media platforms, most recently the social media personality Logan Paul.
Three months after signing a contract with WWE last year, Paul took out a cell phone and filmed himself jumping from the ropes and onto Roman Reigns. That video garnered more than 40 million views across Paul’s and WWE’s social platforms in less than 24 hours, according to Levesque, topping all social media posts for the Stamford, Connecticut, company last year.
A midair collision in the ring last month between Paul and the wrestler Ricochet racked up another 26.5 million views across all platforms.
The company is also pushing digital programming like a weekly show called “The Bump,” which can be viewed live every Wednesday on all of WWE’s digital and social media platforms.
“Look for us to launch more digital original programming in 2023, as it has proven to be an effective platform to pilot new shows and test creative, all while creating new programming for our sales team to sell against,” Levesque said in a post-earnings conference call this month.
The test will be how potential buyers value WWE’s social media presence and that potential going forward.
Rumors of a sale ramped up late last year when WWE founder Vince McMahon returned to the company and took a seat on the board after a short retirement.
In a letter dated Dec. 20, but published in January, McMahon wrote, “Given the rapidly evolving media landscape in which more and more companies are seeking to own the intellectual property offered on their streaming platforms — I firmly believe that the best thing to do for all of WWE’s shareholders and other stakeholders is to undertake a comprehensive review of strategic alternatives.”
Zook, of CAZ Investments, believes potential buyers are aware that social media has changed the equation.
“When you combine the staying power of live sporting events, with the rapid growth in subscription-based content, and an expansive social media presence, you can begin to see why sports franchises like the WWE are becoming a more attractive asset to own,” Zook said.
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Hallmark launching a streaming service with two new original series, and Bill Skarsgård out for revenge in “Boy Kills World” are some of the new television, films, music and games headed to a device near you.
Also among the streaming offerings worth your time as selected by The Associated Press’ entertainment journalists: Alex Garland’s “Civil War” starring Kirsten Dunst, Natasha Rothwell’s heartfelt comedy for Hulu called “How to Die Alone” and Sylvester Stallone’s second season of “Tulsa King” debuts.
NEW MOVIES TO STREAM SEPT. 9-15
— Alex Garland’s “Civil War” is finally making its debut on MAX on Friday. The film stars Kirsten Dunst as a veteran photojournalist covering a violent war that’s divided America; She reluctantly allows an aspiring photographer, played by Cailee Spaeny, to tag along as she, an editor (Stephen McKinley Henderson) and a reporter (Wagner Moura) make the dangerous journey to Washington, D.C., to interview the president (Nick Offerman), a blustery, rising despot who has given himself a third term, taken to attacking his citizens and shut himself off from the press. In my review, I called it a bellowing and haunting experience; Smart and thought-provoking with great performances. It’s well worth a watch.
— Joey King stars in Netflix’s adaptation of Scott Westerfeld’s “Uglies,” about a future society in which everyone is required to have beautifying cosmetic surgery at age 16. Streaming on Friday, McG directed the film, in which King’s character inadvertently finds herself in the midst of an uprising against the status quo. “Outer Banks” star Chase Stokes plays King’s best friend.
— Bill Skarsgård is out for revenge against the woman (Famke Janssen) who killed his family in “Boy Kills World,” coming to Hulu on Friday. Moritz Mohr directed the ultra-violent film, of which Variety critic Owen Gleiberman wrote: “It’s a depraved vision, yet I got caught up in its kick-ass revenge-horror pizzazz, its disreputable commitment to what it was doing.”
NEW MUSIC TO STREAM SEPT. 9-15
— The year was 2006. Snow Patrol, the Northern Irish-Scottish alternative rock band, released an album, “Eyes Open,” producing the biggest hit of their career: “Chasing Cars.” A lot has happened in the time since — three, soon to be four quality full-length albums, to be exact. On Friday, the band will release “The Forest Is the Path,” their first new album in seven years. Anthemic pop-rock is the name of the game across songs of love and loss, like “All,”“The Beginning” and “This Is the Sound Of Your Voice.”
— For fans of raucous guitar music, Jordan Peele’s 2022 sci-fi thriller, “NOPE,” provided a surprising, if tiny, thrill. One of the leads, Emerald “Em” Haywood portrayed by Keke Palmer, rocks a Jesus Lizard shirt. (Also featured through the film: Rage Against the Machine, Wipers, Mr Bungle, Butthole Surfers and Earth band shirts.) The Austin noise rock band are a less than obvious pick, having been signed to the legendary Touch and Go Records and having stopped releasing new albums in 1998. That changes on Friday the 13th, when “Rack” arrives. And for those curious: The Jesus Lizard’s intensity never went away.
— AP Music Writer Maria Sherman
NEW SHOWS TO STREAM SEPT. 9-15
— Hallmark launched a streaming service called Hallmark+ on Tuesday with two new original series, the scripted drama “The Chicken Sisters” and unscripted series “Celebrations with Lacey Chabert.” If you’re a Hallmark holiday movies fan, you know Chabert. She’s starred in more than 30 of their films and many are holiday themed. Off camera, Chabert has a passion for throwing parties and entertaining. In “Celebrations,” deserving people are surprised with a bash in their honor — planned with Chabert’s help. “The Chicken Sisters” stars Schuyler Fisk, Wendie Malick and Lea Thompson in a show about employees at rival chicken restaurants in a small town. The eight-episode series is based on a novel of the same name.
— Natasha Rothwell of “Insecure” and “The White Lotus” fame created and stars in a new heartfelt comedy for Hulu called “How to Die Alone.” She plays Mel, a broke, go-along-to-get-along, single, airport employee who, after a near-death experience, makes the conscious decision to take risks and pursue her dreams. Rothwell has been working on the series for the past eight years and described it to The AP as “the most vulnerable piece of art I’ve ever put into the world.” Like Mel, Rothwell had to learn to bet on herself to make the show she wanted to make. “In the Venn diagram of me and Mel, there’s significant overlap,” said Rothwell. It premieres Friday on Hulu.
— Shailene Woodley, DeWanda Wise and Betty Gilpin star in a new drama for Starz called “Three Women,” about entrepreneur Sloane, homemaker Lina and student Maggie who are each stepping into their power and making life-changing decisions. They’re interviewed by a writer named Gia (Woodley.) The series is based on a 2019 best-selling book of the same name by Lisa Taddeo. “Three Women” premieres Friday on Starz.
— Sylvester Stallone’s second season of “Tulsa King” debuts Sunday on Paramount+. Stallone plays Dwight Manfredi, a mafia boss who was recently released from prison after serving 25 years. He’s sent to Tulsa to set up a new crime syndicate. The series is created by Taylor Sheridan of “Yellowstone” fame.
NEW VIDEO GAMES TO PLAY
— One thing about the title of Focus Entertainment’s Warhammer 40,000: Space Marine 2 — you know exactly what you’re in for. You are Demetrian Titus, a genetically enhanced brute sent into battle against the Tyranids, an insectoid species with an insatiable craving for human flesh. You have a rocket-powered suit of armor and an arsenal of ridiculous weapons like the “Chainsword,” the “Thunderhammer” and the “Melta Rifle,” so what could go wrong? Besides the squishy single-player mode, there are cooperative missions and six-vs.-six free-for-alls. You can suit up now on PlayStation 5, Xbox X/S or PC.
— Likewise, Wild Bastards isn’t exactly the kind of title that’s going to attract fans of, say, Animal Crossing. It’s another sci-fi shooter, but the protagonists are a gang of 13 varmints — aliens and androids included — who are on the run from the law. Each outlaw has a distinctive set of weapons and special powers: Sarge, for example, is a robot with horse genes, while Billy the Squid is … well, you get the idea. Australian studio Blue Manchu developed the 2019 cult hit Void Bastards, and this Wild-West-in-space spinoff has the same snarky humor and vibrant, neon-drenched cartoon look. Saddle up on PlayStation 5, Xbox X/S, Nintendo Switch or PC.
Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.
Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.
Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.
Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.
Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.
Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.
Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.
As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.
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