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CCTV Script 02/07/15

— This is the script of CNBC's news report for China's CCTV on July 2, Thursday.

Welcome to CNBC Busines Daily, I'm Qian Chen.

Calling all professional wrestling fans!

W-W-E is back in Singapore -- 8 years after they were last in town.

There's a live performance happening tonight, starring professional wrestlers like Kane, Dean Ambrose and Dolph Ziggler.

Ticket prices range from 48 to 488 Singapore dollars... And all 8-thousand-2-hundred tickets are sold out.

[GERRIT MEIER, Executive Vice President of WWE International] "It does show that there's growing demand. We can't wait to come back. Last year, we came back to Malaysia after long absence from KL, we are going on to Tokyo, so all those are venues that we want to come back to."

WWE finished 2014 with a record 542.6 million in revenue, a 7% increase over 2013. In North America, WWE posted a 9% increase in revenue largely driven by WWE Network subscriptions and TV rights agreements.

For Q1 2015, revenue increased 40% to 176.2 million, the highest revenue quarter in WWE history.

Last year, WWE decided to launch WWE Network, an online TV streaming website, in an effort to exploit its library of decades' worth of wrestling matchups and to stream live events typically sold as pay-per-views through cable and satellite operators' on-demand services.

The decision caused a stir in the TV industry and led to Dish Network Corp. and DirecTV dropping WWE's events from their on-demand services, with WWE's shares plunging more than 50% in April last year.

Gerrit Meier says the WWE Network has already attracted 1.3 million subscribers worldwide, and 80% of them are from outside of the United States.

[GERRIT MEIER, Executive Vice President of WWE International] "I think actually that is part of the magic of the growth of WWE because now it allows us to engage. We just published the numbers that now we have more than 500 million social followers for WWE around the world, and just on youtube alone, we have 6 billion of views just last 12 months, makes WWE the largest sports channel on Youtube Worldwide."

A big question though, is whether WWE could keep that trend.

WWE's pay-per-view buys declined by 40% last year due to the launch of the Web network, which streams those matches live.

However, WWE says the company is confident that its online growth can offset those losses over time.

CNBC's Qian Chen, reporting from Singapore.

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