The WWE may be enduring serious corporate drama, but it’s certainly not showing it in its day-to-day business.
The sports entertainment company is bringing its signature event, WrestleMania 39, to Los Angeles’ SoFi Stadium in April, and according to WWE senior vp and head of global sales and partnerships Craig Stimmel, the company’s sponsorship revenue is already 43 percent higher than it was for the entirety of WrestleMania 38. Another source familiar with the numbers says sponsorship revenue currently stands at between 14 million-15 million, which will be a new record for the event.
It’s a substantial boost for the company’s bottom line as it begins a critical period, not only with WrestleMania coming up, but with the company exploring strategic alternatives (including a possible sale) ahead of new media rights negotiations. And while media rights (the two main TV and streaming partners are NBCUniversal — which airs Raw and other...
The sports entertainment company is bringing its signature event, WrestleMania 39, to Los Angeles’ SoFi Stadium in April, and according to WWE senior vp and head of global sales and partnerships Craig Stimmel, the company’s sponsorship revenue is already 43 percent higher than it was for the entirety of WrestleMania 38. Another source familiar with the numbers says sponsorship revenue currently stands at between 14 million-15 million, which will be a new record for the event.
It’s a substantial boost for the company’s bottom line as it begins a critical period, not only with WrestleMania coming up, but with the company exploring strategic alternatives (including a possible sale) ahead of new media rights negotiations. And while media rights (the two main TV and streaming partners are NBCUniversal — which airs Raw and other...
- 2/2/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
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