Marvel laid the groundwork, and WWE is following the blueprint. Sources have told Front Office Sports that the wrestling giant sees a similar growth plan between the two companies.
“At first glance, WWE’s a wrestling company. But it’s really a media/content company with a treasure trove of IP that appeals to young demos,” the source told FOS.
Marvel wasn’t always the titan it has grown into today; the company only recently capitalized off of wildly popular comic book IP. 2008 is a fork in the road for the company when it released “Iron Man” in theaters. The film kicked off their decade-plus run of entertainment dominance. Now sources around the sports industry believe WWE is trying to capitalize on its content in the same way.
2020 was a record year for WWE, even with the pandemic. The company’s programming now reaches 900 million homes worldwide, and the company posted record revenue of $974.2 million last year. A big marker in its growth has been the new deal with NBC Universal’s Peacock. The streaming service unveiled the new partnership around Wrestlemania 37 and sparked the night into its most-watched live event ever. The five-year, $1 billion deal with Peacock helped bolster the streaming service’s subscriber numbers.
The relationship with Peacock includes the WWE Network in the streaming service’s library. Fans even got a discount on pay-per-view matches with the inclusion. Customers buy pay-per-view fights for $4.99, compared to the WWE Network’s $9.99 price point.
WWE has also added voices from outside the wrestling world to help lead the company. Barstool Sports CEO Erika Nardini became the third woman to currently hold a board position at the media and entertainment company last October.
Yesterday the company announced the hiring of Jamie Horowitz as WWE’s new executive vice president of development and digital Tuesday. Horowitz previously worked as the executive vice president of global content with DAZN streaming service since 2018. Step by step, WWE is leaning into their identity as an entertainment brand above all.