How valuable is the exposure that WWE will receive from ESPN as the pro wrestling giant’s Premium Live Events move to the Worldwide Leader? It’s tough to pinpoint an exact figure.
But according to WWE’s parent company, it’s clearly worth something.
Hours after WWE announced its new deal with ESPN for the network to carry its PLEs beginning in 2026, TKO held its quarterly earnings call. And in answering a question about the new deal, TKO chief operating officer Mark Shapiro revealed that WWE had actually turned down more money from other suitors in favor of ESPN’s offer and the additional exposure it will provide
“When all was said and done, we could have actually had a slightly higher rights fee by going with another partner,” Shapiro said. “But we felt the strength of ESPN’s brand, their reach, the platform, the makeup of their audience, and their [direct-to-consumer] strategy, which is launching soon here, was just as important as the dollars, and we’ve been consistent with our approach in that messaging to you. Ultimately, we’re sitting here with a five-year deal, annual escalators, high-margin revenue stream with attractive visibility and stability.”
While it’s unknown which suitor WWE rejected, it would be tough to argue with TKO’s strategy — especially if the competing offer was only “slightly higher” than ESPN’s. WWE now adds ESPN to a media rights portfolio that already includes preexisting deals with Netflix, Comcast and Nexstar Media, with the Worldwide Leader clearly positioning the company’s PLEs as a centerpiece of its upcoming direct-to-consumer streaming service.
Shortly after the announcement was made on Wednesday, multiple WWE talents appeared on ESPN programming in what was assuredly a sign of things to come once the deal goes into effect next spring. Look no further than the benefits that WWE’s sister company, UFC, has enjoyed under the ESPN banner, as the exposure from the network has positioned the MMA giant to negotiate what figures to be a massive increase in its own upcoming media rights deal.
While WWE’s mainstream appeal has ebbed and flowed in the 40 years since Hulkamania first ran wild, it has yet to benefit from the type of exposure it will receive via its ESPN partnership. And if that means taking a “slightly lower” that could offer an even bigger payoff down the line, that’s clearly a tradeoff that TKO is willing to make.
About Ben Axelrod
Ben Axelrod is a veteran of the sports media landscape, having most recently worked for NBC's Cleveland affiliate, WKYC. Prior to his time in Cleveland, he covered Ohio State football and the Big Ten for outlets including Cox Media Group, Bleacher Report, Scout and Rivals.