World Wrestling Entertainment, Inc. (WWE) is an integrated media and entertainment company. The Company develops content via television, online and at its live events. The company's operations include four business segments: Live and Televised Entertainment, Consumer Products, Digital Media and WWE Studios. Live and televised entertainment segment's revenues consist of ticket sales to live events, sales of merchandise at these live events, television rights fees, integrated sponsorships fees, and fees for viewing the company's pay-per-view and video-on-demand programming. Consumer product's revenues consist of direct sales of WWE produced home entertainment (DVD/Blu-ray), magazine publishing and royalties or license fees related to various WWE themed products, such as video games, toys and apparel. Digital media's revenues consist of advertising sales on the company's websites.