Recently, WWE officials, including Chief Content Officer Paul Levesque and President Nick Khan, discussed the success of hosting live events such as WrestleMania and their economic impact on host cities. With interest in hosting future events booming, potential host cities are bidding to be chosen as venues for WWE’s premium live events. Levesque mentioned at the CAA World Congress of Sports that the economic impact is a key factor in the bidding process, providing WWE with a list of options to choose from.
The most recent WrestleMania was held at Lincoln Financial Field in early April and drew over 70,000 fans despite frigid temperatures. This showcases the event’s popularity and its ability to attract fans despite challenging conditions. Looking ahead to future events, Khan announced that they will be changing tactics, possibly shifting away from outdoor stadiums on the East Coast in April to avoid competing with other major events like the Final Four.
While WWE has not disclosed ticket sales for WrestleMania, Khan hinted at a potential total revenue of $38 million for the two-night event in Philadelphia. Additionally, WWE is preparing for the transition of “Raw” to Netflix in January as part of a 10-year, $5 billion deal. Levesque expressed confidence that WWE fans will follow Raw to the streaming platform as they have successfully transitioned their audience before.
Both the Netflix deal and the NBCUniversal deal to move “SmackDown” to the USA Network are seen as significant milestones for WWE. Levesque and Khan emphasized that these partnerships will be game-changing for the company and its viewers, signaling a shift towards digital platforms in the entertainment industry. The success of hosting live events such as WrestleMania has shown that even under difficult conditions, it can draw large crowds and generate significant revenue for both host cities and WWE itself.