Why World Wrestling Entertainment (WWE) Is Up Today

NEW YORK (TheStreet) -- World Wrestling Entertainment Inc.  (WWE) was rising Thursday after the entertainment company announced the start of the WWE Network, a streaming network built in similar style to Netflix (NFLX).

Shares of World Wrestling were adding 2% to $16.54 in mid-morning trading.

WWE Chairman and CEO Vince McMahon, Chief Brand Officer Stephanie McMahon, Chief Operating Officer Paul Levesque (also known as professional wrestler Triple H) as well as former wrestlers "Stone Cold" Steve Austin and Shawn Michaels and current wrestler John Cena made the announcement Wednesday in Las Vegas at the Consumer Electronics Show.

The Stamford, Conn.-based company said the network will debut on Feb. 24 and cost $9.99 a month with a six-month commitment. It will be available online via standard desktop and laptop means, as well as through the WWE App on Kindle Fires, Android devices such as Samsung Galaxy, iPads and iPhones, Roku, Sony PlayStation 3 and 4 and Xbox 360.

The WWE Network will include all 12 of the company's annual live pay-per-view events, including WrestleMania, along with pre-shows and post-shows for its weekly television programs Monday Night Raw and Friday Night Smackdown. It will also include reality shows such as WWE Legends' House, documentaries, WrestleMania RewindWWE Countdown and The Monday Night War: WWE vs. WCW.

Finally, WWE announced that fans would have access to every WWE, WCW and ECW (the two wrestling companies WWE purchased in 2001) pay-per-view in history, along with every episode of Raw, Smackdown, Main Event, Superstars and NXT when the network debuts. The network will feature more than 1,500 hours of on-demand video content.

WWE Chart

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