WWE BUSINESS: Stephanie McMahon discusses return of live events on CNBC


Posted on 6/08/121 by Colin Vassallo



WWE Chief Brand Officer Stephanie McMahon appeared on CNBC’s
Squawk on the Street this morning to discuss the company’s
return to live events and SummerSlam.

The WWE live event business was barely breaking even before
the coronavirus pandemic hit but McMahon was bullish about
the return of these live events, saying that they have data
that shows a trend towards an increase in attendance moving
forward. The first pay-per-view with no COVID-19
restrictions is nearly sold out with around 400 tickets left
on sale.

With no live events for well over year, McMahon said that
WWE had to rely on television distribution deals and
merchandise to weather the storm. Merchandise sales, which
usually take place at live events, received a big boost when
it went 100% online, with WWEShop.com experiencing record
sales.

Stephanie also discussed the WWE Network move to Peacock,
saying that WWE wanted to focus on creating content rather
than be competitive in technology, noting that they would
not have stood a chance competing against the likes of
Amazon and Disney and other streaming services on their own.

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