WWE is a live event machine like no other with shows running 52 weeks a year, but now things are set for a major shake-up.
The WWE takeover by Endeavor was completed in September 2023 and since then changes have been happening behind the scenes.
Several Senior Vice Presidents have been let go by the company as the TKO Group continues to make cost savings and it looks like there could be a more visible change coming for fans.
WWE Cutting Back Live Events
Speaking at the UBS Global Media And Communication Conference, TKO President Mark Shapiro admitted that while live events are overwhelmingly positive for the WWE brand, they are not good for the bottom line and the company is already going through the process of cutting back on them:
WWE has over 300 events a year, with 170 televised. There is probably, while all those other superstars events, there is a reason to have them because it’s good for the brand, we’re building the audience, we’re putting them on C and D counties, so we’re really stretching the brand and amassing a greater array of eyeballs for all demos, it’s good for our long-term growth.
For a margin perspective, they are dilutive. There are probably opportunities, as we go through our efficiencies and synergies, to cut back those non-televised events, which will, of course, push our margin up. We’re going through that exercise now.
It is not yet known which towns will now lose out on WWE live events as a result of the cuts. WWE is heading to Europe twice for major shows in 2024 as the company actively shops around some of its bigger shows to the highest bidder.