WWE, Genius Products: A winning combination
Talk about a winning tag team -- WWE has teamed up with Genius Products, LLC as the new, exclusive home entertainment distributor of all WWE DVD titles, in a multi-year agreement effective Nov. 1.
Announcing the deal is WWE Chariman, Vince McMahon; and Co-Chairmen and Co-CEOs of The Weinstein Company, Harvey and Bob Weinstein. The Weinstein Company is the majority owner of Genius Products. Also announcing are Genius Products President and CEO, Trevor Drinkwater; Genius Products Chairman Stephen K. Bannon; and WWE's Executive Vice President, Consumer Products, Donna Goldsmith. Drinkwater and Genius EVP for Sales, Mitchell Budin; and WWE Senior Director, Home Entertainment and Publishing, Joel Satin, inked the DVD deal.
"We are ecstatic about the partnership potential with the entire WWE family, starting with its significant home entertainment franchise that has bucked the flattening sales trend in the DVD industry," said Bob Weinstein. "WWE is the leading sports entertainment franchise and we look forward to many years of expanding this major alliance."
During fiscal year 2004, 10 percent of WWE's revenues came from home entertainment, which clocked in at $42 million, more than double than the previous year's earnings. According to Nielsen VideoScan, this year, 10 WWE DVD titles soared to No. 1 on the sports DVD chart. WrestleMania 22 is the WWE's No. 1 best-selling DVD of all-time.
"Our DVD titles continue to dominate the sports category and to grow in popularity," said Goldsmith. "With Genius and its team of savvy, experienced industry veterans, we will continue this track record of performance and expand upon it."
Genius Products will release titles from WWE's extensive, 75,000-hour library, the largest of its kind in the world, including content from RAW, SmackDown, ECW, pay-per-views, and WWE Superstar profiles. On Nov. 14, the first titles to be released by WWE and Genius will be Born to Controversy: The Roddy Piper Story. Then, The Spectacular Legacy of the AWA will drop on Nov. 21, and WWE Cyber Sunday 2006 on Dec. 5. In 2007, at least 25 titles will be released.
"Home entertainment is a major part of the WWE's business, and we believe we have found in Genius a company that understands our brand and will help us continue to drive our company's growth in this area," said Vince McMahon. "Bob and Harvey Weinstein have a tremendous track record. We're excited about this partnership and its long-term potential."