Model says WWE Network at 9.99 should have 1.1M in subs; it does.

WWE Statistics

START	END	ATTENDANCE	EVENTS	PPV BUYS	RAW RATING	PPV REV
1/1/2014	12/31/2014	1,931,000	318	2,292,000	3.4	45.2
1/1/2013	12/31/2013	1,924,100	321	3,838,000	3.4	82.5
1/1/2012	12/31/2012	1,854,100	314	4,023,000	3.3	83.6
1/1/2011	12/31/2011	1,976,500	321	3,842,100	3.6	78.3
1/1/2010	12/31/2010	2,155,700	327	3,631,100	3.5	70.2
1/1/2009	12/31/2009	2,383,800	342	4,490,200	3.7	80.0
1/1/2008	12/31/2008	2,203,300	319	5,034,400	3.4	91.4
1/1/2007	12/31/2007	2,115,300	308	5,200,800	3.7	94.3
5/1/2006	12/31/2006	1,312,180	246	3,287,300	3.9	53.4
5/1/2005	4/30/2006	1,713,840	300	6,241,100	4.0	94.8
5/1/2004	4/30/2005	1,616,875	325	5,280,800	3.7	85.5
5/1/2003	4/30/2004	1,646,974	329	5,604,000	3.8	95.3
5/1/2002	4/30/2003	1,815,177	327	5,378,100	3.7	91.1
5/1/2001	4/30/2002	2,032,754	237	7,135,464	4.6	112.0
5/1/2000	4/30/2001	2,449,800	212	8,010,400	5.0	128.2
5/1/1999	4/30/2000	2,485,100	206	6,884,600	6.2	106.4
5/1/1998	4/30/1999	2,273,701	199	5,365,100	5.0	81.0
5/1/1997	4/30/1998	1,576,112	218	2,936,100	3.1
5/1/1996	4/30/1997	1,060,740	199	2,252,200	2.4
5/1/1995	4/30/1996	931,954	247	2,831,700	3.0
5/1/1994	4/30/1995	1,163,259	347	1,868,900	3.0

WWE Attendance per Event

Average Revenue per PPV Buy

Essentially, WWE was getting about half of the PPV revenue prior to the WWE Network launch.

From a monthly basis, WWE PPVs stats were:

START	RATING	PRICE	AVG	MONTHLY
1/1/2013	3.4	$42.99	5,994	319,833
1/1/2012	3.3	$41.56	5,905	335,250
1/1/2011	3.6	$40.76	6,157	320,175
1/1/2010	3.5	$38.67	6,592	302,592
1/1/2009	3.7	$35.63	6,970	374,183
1/1/2008	3.4	$36.31	6,907	419,533
1/1/2007	3.7	$36.26	6,868	433,400
5/1/2006	3.9	$32.49	5,334	410,913
5/1/2005	4.0	$30.38	5,713	520,092
5/1/2004	3.7	$32.38	4,975	440,067
5/1/2003	3.8	$34.01	5,006	467,000
5/1/2002	3.7	$33.88	5,551	448,175
5/1/2001	4.6	$31.39	8,577	594,622
5/1/2000	5.0	$32.01	11,556	667,533
5/1/1999	6.2	$30.91	12,064	573,717
5/1/1998	5.0	$30.20	11,426	447,092

If we look at these variables, we can regress on Rating, ln(price), avg attendance and estimate average monthly PPV buys.

2015 Stats

Rating = 3.3 (first 9 months of 2015)

ln(Price) = ln($9.99) = 2.30

Avg Attendance = 5,770 (first 10 months of 2015)

Estimated Monthly PPV Buys at $9.99 = 1,057,840

Actual average paid subscribers for WWE Network in 2015? 1,106,000.

Error? -4.3%.

The concept of 3M to 4M monthly paid subscribers for WWE Network seems very difficult without a huge increase in the event attendance and Raw ratings.