TVN Entertainment Corporation, the leading provider of on demand television programming, management and distribution services, and World Wrestling Entertainment, Inc. announced the signing of a wide-ranging VOD Preferred Partner services agreement.
The agreement covers VOD services and distribution for WWE's new subscription on demand service, WWE 24/7. The new SVOD offering will feature pay-per-wiew, cable and syndicated broadcast content, best-selling home videos, new original productions and proprietary broadband from the WWE and other acquired national and regional wrestling brands.
As a TVN Preferred Partner, WWE 24/7 may utilize TVNow, the only industry-wide rapid VOD encode/transport service -- which allows content owners to capture live programs/events and make them available on demand to customers within hours of the original broadcast. WWE and TVN may also pursue opportunistic and strategic revenue opportunities related to future applications and ITV developments.
''One of our business goals is to effectively utilize our valuable library of more than 75,000 hours of wrestling content covering WWE, WCW, ECW and other brands,'' said Tom Barreca, senior vice president of WWE Enterprises. ``Our agreement with TVN is a tremendous strategic catalyst to our upcoming rollout across cable operators later this month. This agreement should energize both our distributors and our avid fan base, which is anxious to enjoy WWE 24/7 on their schedule.''
Jim Riley, TVN executive vice president, said: ``We are extremely happy to expand our relationship with WWE, bringing enormously popular programming to VOD via TVN's advanced platform. WWE 24/7 is precisely the kind of unique, branded programming that will energize a new customer category to sample and embrace VOD.''
World Wrestling Entertainment, Inc. (NYSE: WWE) is an integrated media and entertainment company headquartered in Stamford, CT, with offices in New York City, Los Angeles, Toronto and London.
WWE 24/7 is a subscription video on demand service being made available through cable and satellite television providers and leveraging WWE's 75,000-hour library, the largest of its kind in the world, featuring the leading wrestling and other sports entertainment brands and programming, according to the company.
More information on WWE 24/7 can be found at www.wwe24-7.com.
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