Since its decline in ratings to an all-time low this year, a worrisome WWE news is that the billion dollar business might go bankrupt. Recently, WWE Chairman Vince McMahon shared that they are “open for business” and willing to hear out offers.
This year spelled out the worst ratings for WWE Raw in 20 years. The July 4 Monday Night Raw episode has a viewership of only two million, which is less 1.5 million from last year. Similar incidents occurred during other episodes of Raw.
However, according to McMahon, this is not a cause of worry saying that people, in general, are not as big in television as they used to. In addition, both WWE’s streaming services and advertisements revenue are still doing very well.
Helpful to the network was their decision to split WWE Raw from WWE Smackdown, which has garnered almost the same ratings as the former in such a short period of time.
WWE News: Bankrupt and Open For Business?
McMahon confirms that the business is not filing bankruptcy anytime soon. In fact, he stands firmly with his assessment that the brand is doing well and is still worth billions of dollars.
During the third quarter earning calls, McMahon in response to a question confirmed that WWE is “open for business” as long as it is for the right price. According to Inquistr, the company believes to be worth more than the recently sold UFC which earned $4 Billion from its new owner.
However, McMahon expressed concern that along with selling the business, they fear losing control over it. As much as possible, the businessman wants to keep the integrity of the brand as it is– whatever that may mean. When asked if it is purchased but still given control over how the franchise is handled, McMahon positively responded that they are very much willing to hear the offer.
In their third quarter financial reports, WWE Chief Strategy and Financial Officer, George Barrios said “We achieved a 24% increase in average paid subscribers to WWE Network and generated profits that were within the range of our guidance. We expect continued year-over-year growth in subscribers and profits for the fourth quarter resulting in strong full year performance that is in-line with our previous business outlook.”
This increase, for McMahon, is a good sign for the years to come. “This growth illustrates meaningful progress against our long-term strategic plan and provides the foundation for achieving our 2017 financial objectives,” WWE’s chair stated.