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World Wrestling Entertainment, Inc. (d/b/a WWE) is an American publicly traded, privately controlled entertainment company that deals primarily in professional wrestling, with major revenue sources also coming from film, music, product licensing, and direct product sales. WWE also refers to the professional wrestling promotion itself, founded by Jess McMahon and Toots Mondt in 1952 as Capitol Wrestling Corporation Ltd. As of 2014, it is the largest wrestling promotion in the world, holding over 300 events a year, and broadcasting to about 36 million viewers in more than 150 countries. The company’s headquarters are located in Stamford, Connecticut, with offices in major cities across the world. The company promotes under two main roster brands: Raw and SmackDown, and a developmental brand NXT.
As in other professional wrestling promotions, WWE shows are not legitimate contests, but purely entertainment-based, featuring storyline-driven, scripted, and choreographed matches, though they often include moves that can put performers at risk of injury if not performed correctly. This was first publicly acknowledged by WWE’s owner Vince McMahon in 1989 to avoid taxes from athletic commissions. Since the 1980s, WWE publicly has branded their product as sports entertainment, which is considered to acknowledge the product’s roots in competitive sport and dramatic theater.