Live Event Programming Is Key to Success of WWE Network

The WWE Network is finally beginning to develop a sense of urgency.

With a second consecutive month featuring an additional live event special (Elimination Chamber on May 31), the WWE Network is continuing to go down the right path. Airing these events will add value to the network, as non-subscribers will miss out on key storyline developments without it.

Upon its debut, the WWE Network prided itself on nostalgia. It aired every previous pay-per-view in history, documentaries on past WrestleManias and features focused on the Attitude Era. Even its original programming, highlighted by Legends' House, was drenched in yesteryear.

After an unspectacular initial subscription count—per James Caldwell of PWTorch—likely primarily comprised of a hardcore fanbase, WWE is now expanding its horizons.

By airing monthly specials featuring title matches between name-brand WWE Superstars, the WWE Network can entice a broader audience.

If WWE continues to advance important angles through exclusive content, even casual viewers who only watch Raw and pay-per-views will feel a need to subscribe.  

There are only so many ways to showcase the fabled tales of the Attitude Era. Much like the era itself, that will eventually get old. Although it was WWE's most successful period, it only lasted for five years, and all the stories worth telling will soon run out.

WWE needs to adopt a forward-thinking model to integrate its current product with its most pivotal investment.

WWE can't move Raw and SmackDown to the WWE Network just yet, but regularly scheduled live event specials are the next best thing. Moving forward, it may be necessary to adjust or sacrifice one house show per month in favor of a WWE Network exclusive.

This continued evolution is beginning to mirror that of rival online streaming service Netflix. Over the past few years, Netflix has added popular original series such as Orange Is the New Black, House of Cards and Daredevil to a revamped model that no longer only features movies.

As a result, programming on Netflix is beginning to eat into live TV viewership, according to Tim Stenovec of Business Insider.

Instead of reliving films that are months, years or decades removed from their theatrical release, subscribers now tune in to the service to make sure that Francis Underwood hasn't been killed off.

WWE will benefit from a similar strategy. As the WWE Network continues to air programming that directly ties into its current product, it will evolve from a novelty to a necessity.

Alfred Konuwa is a featured columnist and on-air host for Bleacher Report. Follow him on Twitter @ThisIsNasty, and subscribe to his weekly wrestling podcast.