The WWE Network was launched in 2014 by WWE. Described by Dave Meltzer and The Mexican as being the next glorious step in WWE's mvoe to a total monopoly. Big fat Scott Keith said that this was the one move that would guarantee WWE's survival and financial security for many years to come.
WWE owns the video lbraries of many companies such as WCW, ECW, AWA, SMW, UWF, FCW and movies like No Holds Barred and The Marine. One WWE shill stated that WWE has "over 75 000 hours" in its video library(not including gay porn). With WWE's pay-pier-view business disappearing quicker than HHH's hair, WWE decided to start their very own network. People pay $10 a month, and get that month's "special event"(formerly pay=per-view), loads of access to classic WWE, WCW and ECW pay-per-views, Clashes of the Champions, as well as exciting new programming like Total Divas and Legends House. What not to love? The WWE Network has its own theme song.
The fact that the Newtowrk sucks apparently. There have been major technical problems with people unable to watch the Network. Other people have been unable to watch the Network due to the poor quality of the programming. The Netwrok also doesn't have either RAW or Smackdown! but does have post-show slots where guys shill the Network that you're watching while they're shilling it.
In addition WWE have out a special offer for a limited time. Many people took advantage of this, downloaded the PPV's, and have no intention of ever subscribing to the WWE Network ever again.
The amount of people who have subscribed to the Network is of coruse way below what Vince promised investors and shareholders it would be. The bite out of the PPV payday has also hurt. And then NBC delivered far less money for the renewal of RAW and Smackdown! for their cable slots. The upshot is that WWE lost $347 million in a few weeks. And unlike WCW's supposed $82 million loss in 2000, the $347 million loss is real. Considered the greatest flop in WWE history.