Mark Shapiro recently spoke at the UBS Global Media & Communication Conference and provided an update on the future of WWE live events.
The TKO COO announced that WWE was looking at reducing their number of live events, as well as other cost-cutting measures.
Shapiro said that house shows (referred to as “cards” or “superstar events”) helped WWE build the audience and bring “the brand to C and D counties.”
WWE runs 300 events a year and only 170 are televised. Shapiro said,
“From a margin perspective, they’re dilutive. There’s probably an opportunity, as we go through our synergies and efficiency opportunities, to cut back on some of those non-televised events which, of course, will push our margin up.”
Shapiro further added that TKO could save up to $100 million in efficiencies after the WWE-UFC merger, and the company will hit 75% of that by the end of next year. He said,
“There are a lot of production efficiencies. Even if our production chiefs want to tell me there’s not, frankly, I worked at ESPN for 12 years, I oversaw all production, I have been through all the song and dance with every producer who treats every tape machine and camera like it’s a baby and doesn’t want to give it up. And we’re here to improve our margins. We’re going to scrutinize every dollar on production for every single event, every single one of these telecasts, and improve our savings.”
He said that TKO is still considering site fees for WWE and UFC, noting that their deal in Australia brought in $16 million.
Shapiro also noted that Vince McMahon’s “manifesto” about no sponsorship on the ring mat or other places in WWE has been “thrown out.”
TKO plans to follow the same plan they had with the UFC for in-venue deals as WWE’s audience was “very diverse, 40% female and heavy family.”
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In a recent conference, Mark Shapiro, the COO of TKO, provided an update on the future of WWE live events. He announced that WWE is considering reducing the number of live events they host, along with implementing other cost-cutting measures.
Shapiro highlighted the importance of house shows, also known as “cards” or “superstar events,” in helping WWE build its audience and expand its brand to C and D counties. Currently, WWE runs 300 events per year, but only 170 of them are televised. Shapiro explained that from a margin perspective, these non-televised events are dilutive. Therefore, there is an opportunity to cut back on some of these events to improve the company’s margin.
The TKO COO further mentioned that after the WWE-UFC merger, TKO could save up to $100 million in efficiencies. By the end of next year, they expect to achieve 75% of those savings. Shapiro emphasized the need for production efficiencies and stated that they would scrutinize every dollar spent on production for each event to improve their savings.
Regarding site fees, Shapiro revealed that TKO is still considering them for both WWE and UFC events. He cited their deal in Australia, which brought in $16 million. Additionally, he mentioned that Vince McMahon’s “manifesto” about no sponsorship on the ring mat or other places in WWE has been disregarded.
TKO plans to follow a similar strategy they had with the UFC for in-venue deals, as WWE’s audience is diverse, with 40% being female and heavily family-oriented.
It is important to note that you can stay updated with all your wrestling news on eWrestlingNews.com. You can also follow them on their Twitter and Facebook pages.
In conclusion, WWE is looking to reduce the number of live events and implement cost-cutting measures. TKO aims to improve margins through production efficiencies and scrutinizing every dollar spent. The company is considering site fees and plans to follow a successful strategy for in-venue deals. Fans can stay informed through eWrestlingNews.com and their social media platforms.