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WWE leaning into social media ahead of possible sale

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WWE leaning into social media ahead of possible sale

WWE, an organization that is already king of the ring on social media, will attempt to expand its online presence this year with the $6.5 billion sports entertainment company hinting that it may put itself up for sale.

WWE surpassed 20 million followers on its flagship TikTok account during its most recent quarter, the first sports league to do so, and it’s launching three international TikTok accounts after the WWE Espanol TikTok handle reached nearly 2 million followers in its first year, according to the company.

WWE’s presence online is already broad and it does not appear to be slowing down.

The company’s YouTube channel topped 92 million subscribers in the fourth quarter, making it one of only 10 channels on the platform to surpass the 90 million subscriber mark, according to Paul Levesque, the company’s chief content officer and director who wrestled under the name Triple H.

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To put those numbers in perspective, the National Basketball Association has 19.8 million subscribers, the National Football League has 10.6 million, and Major League Baseball has 4.05 million.

Part of the reason is that, unlike the NFL, NBA and MLB, the WWE has no off season. It churns out new content from television shows and premium live events all year long and its fans eat it up.

The online presence of the company is so pervasive that it seeps into the social media posts from some of the world’s biggest athletes.

After defeating the Philadelphia Eagles in Super Bowl LVII, Kansas City Chiefs quarterback and MVP Patrick Mahomes posted a photo of himself on Twitter holding the Vince Lombardi trophy in one hand, and a WWE belt in the other.

That photo has been viewed more than 23 million times and that number keeps rising.

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Constant innovations that are blended with entertainment sets WWE apart on social media platforms, said Christopher Zook, chairman and chief investment officer of CAZ Investments.

“It has consistently found ways to generate interest and stay ahead of the growing changes in consumer behavior,” Zook said. “The viral, fan-service nature of their content is how they have built so much staying power.”

Increased sports viewership has put a premium on the value of organizations with a large following and that moves WWE to the front of the line for companies looking to expand into new areas, said Zook, particularly when seeking to reach key demographics willing to spend.

And the platforms on which the WWE is focused increasingly attract a crowd with discretionary income to spend.

Among those between the ages of 18 and 29, 95% say they use YouTube, according to a Pew Research Center survey on social media use by U.S. adults in 2021.

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TikTok is expected to overtake Facebook next year as the most-consumed social network among U.S. adults over the age of 18, according to Insider Intelligence. The research firm expects 18-to-24-year-old TikTok users in the U.S. to spend an average of 1 hour on the platform every day this year.

And WWE has been quick to partner with people that have a massive following on social media platforms, most recently the social media personality Logan Paul.
Three months after signing a contract with WWE last year, Paul took out a cell phone and filmed himself jumping from the ropes and onto Roman Reigns. That video garnered more than 40 million views across Paul’s and WWE’s social platforms in less than 24 hours, according to Levesque, topping all social media posts for the Stamford, Connecticut, company last year.

A midair collision in the ring last month between Paul and the wrestler Ricochet racked up another 26.5 million views across all platforms.

The company is also pushing digital programming like a weekly show called “The Bump,” which can be viewed life every Wednesday on all of WWE’s digital and social media platforms.

“Look for us to launch more digital original programming in 2023, as it has proven to be an effective platform to pilot new shows and test creative, all while creating new programming for our sales team to sell against,” Levesque said in a post-earnings conference call this month.

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The test will be how potential buyers value WWE’s social media presence and that potential going forward.

Rumours of a sale ramped up late last year when WWE founder Vince McMahon returned to the company and took a seat on the board after a short retirement.

In a letter dated Dec. 20, but published in January, McMahon wrote, “Given the rapidly evolving media landscape in which more and more companies are seeking to own the intellectual property offered on their streaming platforms – I firmly believe that the best thing to do for all of WWE’s shareholders and other stakeholders is to undertake a comprehensive review of strategic alternatives.”

Zook, of CAZ Investments, believes potential buyers are aware that social media has changed the equation.

“When you combine the staying power of live sporting events, with the rapid growth in subscription-based content, and an expansive social media presence, you can begin to see why sports franchises like the WWE are becoming a more attractive asset to own,” Zook said. 

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Harvey Weinstein expected in New York court after rape conviction overturned

Harvey Weinstein expected in New York court after rape conviction overturned

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Harvey Weinstein expected in New York court after rape conviction overturned

Harvey Weinstein is due to appear in state court in Manhattan on Wednesday for the first time since New York’s highest court threw out his 2020 rape conviction last week.

The hearing before Judge Curtis Farber will give prosecutors and Weinstein’s lawyers a chance to address the next steps for the former film mogul, which could include a new trial.

“Harvey is looking forward to his day in a fair court,” said Weinstein’s spokesperson, Juda Engelmayer.

Weinstein, 72, has been serving a 23-year sentence in a prison in upstate Rome, New York. He is currently at Bellevue Hospital, where he was transferred following last week’s order, according to Engelmayer.

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Jurors in Manhattan convicted Weinstein in February 2020 of sexually assaulting former production assistant Miriam Haley in 2006 and of raping aspiring actress Jessica Mann in 2013. They are among more than 80 women who have accused him of sexual misconduct.

The conviction included charges of first-degree sexual assault and third-degree rape. Weinstein, who has denied having non-consensual sexual encounters with anyone, was acquitted on other charges.

The verdict was hailed as a milestone for the #MeToo movement, in which women accused hundreds of men in entertainment, media, politics and other fields of sexual misconduct.

Last week, the New York Court of Appeals found that Judge James Burke, who presided over the trial, made a critical mistake by allowing three women to testify about alleged sexual assaults by Weinstein that were not part of the criminal charges against him. The court said this “prior bad acts” testimony violated his right to a fair trial.

The office of Manhattan District Attorney Alvin Bragg has signaled it plans to retry Weinstein.

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“We will do everything in our power to retry this case, and remain steadfast in our commitment to survivors of sexual assault,” Emily Tuttle, a spokesperson for Bragg, said in an email last week.

The case was brought by Bragg’s predecessor, Cyrus Vance.

Regardless of whether he is retried, Weinstein is not likely to be released from jail because he was also sentenced to 16 years following his separate rape trial in California. The two sentences cannot be served concurrently.

Burke is no longer on the bench, so any retrial would be before a different judge.

Weinstein co-founded the Miramax film studio, whose hit movies included “Shakespeare in Love” and “Pulp Fiction.” His own eponymous film studio filed for bankruptcy in March 2018.

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‘Operation Madonna’: Rio readies for singer’s free mega-concert

‘Operation Madonna’: Rio readies for singer’s free mega-concert

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'Operation Madonna': Rio readies for singer's free mega-concert

Madonna’s long-awaited free concert on Rio de Janeiro’s Copacabana Beach has upended the neighborhood, with over a million fans expected — but for retired resident Mario Renato Borges, it’s the least the singer deserves.

“Welcome, Queen,” read some posters near the huge stage erected on the Brazilian beach, where Madonna will on Saturday give the biggest show of her 40-year career and the last of her “Celebration Tour.”

The 65-year-old American singer arrived in the coastal city on Monday after more than 80 shows in Europe, the United States and Mexico. This will be her only stop in South America.

The “Like A Virgin” and “Material Girl” performer traveled to Brazil with three planes and 270 tons of equipment, according to her production company.

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She has set up camp at the luxurious Copacabana Palace hotel, connected to the stage by a suspended catwalk that dozens of fans crowded under this week, hoping to catch a glimpse of the pop star.

The biggest dance floor

Thanks to free admission, organizers expect Madonna’s concert to produce the “world’s biggest dance floor” of up to 1.5 million people — a figure only reached on the same beach by the Rolling Stones in 2006.

“The traffic is chaos but the concert will be great, especially because it’s Madonna, the queen of pop,” says resident Borges, who lives in Leme, a neighborhood at the end of Copacabana Beach.

Madonna’s fourth performance in Rio will contribute some 293 million reais (US$57 million) to the local economy, an income 30 times higher than what city authorities invested, according to the mayor’s office.

Around 150,000 foreigners are expected to swarm the city, with most hotels already fully booked.

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“This will undoubtedly be one of Rio’s biggest international events. It will boost our economy and attract tourists from Brazil, Latin American and all over the world,” said the city’s Tourism Secretary Daniela Maia.

Return of the conical corset

Madonna fever is clear to see in Rio — the so-called “Marvelous City” — as the hours tick down to her performance.

At the Lix printing shop in the popular downtown Saara shopping district, the songs of the “Material Girl” are playing on loop to inspire devotees who can choose from personalized fans, hats or mugs.

Manager Livia Reis, 23, tells AFP that her store went viral on social media shortly after the concert was announced thanks to an influencer who visited the Madonna-inspired shop.

“A guy came in, took a photo and a video, and sent them to a fan club with 150,000 followers in Portugal. From there, it jumped to TikTok and Instagram,” she says.

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One particularly popular item is a replica of the conical corset created by French designer Jean Paul Gaultier, which Madonna famously wore on stage in 1990.

Sold as a bra or a top, the item is “doing very well,” says Reis, who expects there will be “queues out of the door” in the days ahead of the concert.

Patrols on the corners

“All this activity is good for tourism, hotels and restaurants. But let’s hope the security is up to the task,” says 68-year-old Rio local Borges.

The mayor’s office has prepared an operation equivalent to New Year’s Eve celebrations in Copacabana, one of the most famous in the world that typically brings down some one million people.

“Operation Madonna” will see some 4,500 agents deployed, working with drones and facial recognition cameras. There will be police patrols on almost every street corner in the neighborhood.

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Nagila Alves, 54, who works for a pest control company, was on her way to a client’s home when she stopped to take a photo of the impressive stage set up for Madonna.

“I will always love her. Madonna is timeless,” she tells AFP, adding she plans to delay her arrival on Saturday to dodge the crowds swarming to the front of the stage.

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Selena Gomez on social media: ‘I find it frustrating’

Selena Gomez on social media: ‘I find it frustrating’

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Selena Gomez on social media: 'I find it frustrating'

Selena Gomez feels frustrated by social media. The 31-year-old star has a huge online following, but Gomez often takes breaks from social media platforms to escape the negativity.

The brunette beauty – who has more than 400 million followers on Instagram – said at the TIME100 Summit: “I find it frustrating. Then I get a little mouthy and I want to defend the people I love.”

Gomez believes it’s important to take breaks from social media to retain a sense of perspective.

The actress – who is currently dating record producer Benny Blanco – explained: “I took four years off of Instagram, and I let my team post for me for those years. I felt like it was the most rewarding gift I gave myself.”

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Meanwhile, Gomez previously claimed that there’s “so much strength in being vulnerable”.

The Only Murders In The Building star has spoken openly about her mental health struggles over recent years, and Gomez admitted that she’s found it to be a “very freeing” experience.

She told Wondermind: “I don’t love giving advice because I don’t have all of the answers.

“I’d say, though, find a friend or a family member you feel comfortable talking with and open up about what you are feeling. It’s very freeing to open up to someone. There is so much strength in being vulnerable.”

Despite this, Gomez doesn’t have any regrets over how she’s dealt with her own struggles.

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The actress – who first found fame as a child – explained: “I try and not look back and wish anything could have been different. What I am happy about is that more people are opening up about their mental health.”

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