World Wrestling Entertainment Officially Becomes WWE

[Troy]

As we reported over the weekend, WWE has dropped World Wrestling Entertainment as their name in an attempt to move past the boundaries of being "just" pro wrestling (that term has also been dropped from their vocabulary).


The company issued the following press release this morning, outlining their future plans, a new marketing tagline (which is actually an old Wrestlemania tag) and the first public acknowledgment of Triple H's new corporate role:

The New WWE® Expands Beyond Wrestling
STAMFORD, Conn.--(BUSINESS WIRE)--To better reflect the company’s global entertainment offerings, World Wrestling Entertainment, Inc. (NYSE: WWE) announced today a new business model for future growth, including formally rebranding itself, WWE.

“The new business model of the company better reflects what WWE is all about, being a global entertainment companyâ€

Two key components to WWE’s brand expansion will be the active pursuit to acquire entertainment content companies and the outsourcing of WWE’s core competencies – television and film production, live event production and licensing. As part of the new business model, the company will also focus on the development of new television products including scripted, non-scripted and animated programs, as well as the launch of a new WWE network in the next 12-18 months. The first new program of the brand expansion is Tough Enough®, WWE’s non-scripted program that debuted on the USA Network on Monday.

“The new business model of the company better reflects what WWE is all about, being a global entertainment company,†stated Vince McMahon, Chairman and CEO, WWE. “We will always be loyal to our core business that made WWE a globally known entity, however, the future of WWE will be the addition of new entertainment content opportunities beyond the ring.â€

This new rebranding initiative will be highlighted through a national consumer and business-to-business advertising campaign entitled “Bigger. Badder. Better.™†The campaign kicked off at WrestleMania® XXVII on Sunday and will be featured on cable TV, print and online.
In addition to focusing on the expansion of the company, the company will bolster its core business with the launch a new talent development department headed by Paul “Triple H®†Levesque. The new department will put a greater emphasis on worldwide recruitment, training and character development to identify future WWE Superstars and Divas. The first recruit acquired under Levesque’s new department

Some key points in that press release. WWE are really focussing on expanding in the entertainment business rather than trying to succeed in other areas outside their expertise which is smart.

WWE Network should be good, considering the huge video library WWE have, when it is launched in 2012.

The line about the development of scripted, non-scripted and animated shows interested me. They mention that Tough Enough is the start of the non-scripted shows but I have wondered for some time when WWE would produce a cartoon. They used to many years ago and with WWE targetting kids more a cartoon seems like a no brainer.

They mention that HHH has taken over as head of talent development. Starting to move to a more backstage role and gives some clarity about a succession plan if Vince goes. I was surprised when I read that his first move was to hire Misitico, if so well done.

 

[Chase]

Cena and pals would be a good a cartoon for WWE. WWE network would be something cool to see if it goes through. Wonder if you would have to pay extra for it or would it be another usual channel that would be provided.

 

[Dademo]

From a fan point of view, this doesn't effect them much, or me at least, but from a business spec point, I see that this is a big deal

 

[Deezy]

If Cena gets his own cartoon I'd never let my nieces and nephews watch cartoons ever again. There was only one wrestling cartoon and it starred Hogan and friends. Nothing will ever be better than that ever. point blank period.

I'm all for expansion, but let's not forget why the people are only familiar with your brand name. Also nothing too stupid like a football league or bodybuilding league since the wrestling shows suffer because of lost revenue elsewhere.