WWE sent out the following press release today:
WWE chooses TVN Entertainment for VOD; Agreement Marks Premier VOD Satellite Delivery of WWE 24/7
BURBANK, Calif. & STAMFORD, Conn.--(BUSINESS WIRE)----TVN Entertainment Corporation, the leading provider of on demand television programming, management and distribution services, and World Wrestling Entertainment, Inc. (NYSE:WWE), the largest provider of event programming in the world, today announced the signing of a wide-ranging VOD Preferred Partner services agreement.
The agreement covers VOD services and distribution for WWE(R)'s new subscription on demand service, WWE 24/7(TM). The new SVOD offering will feature highly-rated Pay-Per-View, 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 the 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."
"We are extremely happy to expand our relationship with WWE, bringing enormously popular programming to VOD via TVN's advanced platform," said Jim Riley, TVN Executive Vice President. "WWE 24/7 is precisely the kind of unique, branded programming that will energize a new customer category to sample and embrace VOD."
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