World Wrestling Entertainment announced that it has adopted a new business model for future growth, including formally rebranding itself as WWE.
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, 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,” says Vince McMahon, chairman and chief executive officer at 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.”