Over the weekend, WrestleMania 39 grew to become the highest-grossing and most profitable occasion within the historical past of World Wrestling Entertainment (WWE), with greater than 500 million views in two days.

One of the spectators was Professor Kyriaki (Kiki) Kaplanidou, Ph.D., director of the Graduate Sport Event Management Certificate on the University of Florida (UF), who co-authored a bit final yr entitled Then. Now. Forever. Together. Strengthening Consumer Engagement with WWE.

She and her fellow researchers acknowledged the resilience of the WWE model, documenting simply how efficiently the corporate bounced again from the peak of the pandemic. The researchers predicted that the snowballing impact would solely proceed, and the sold-out, record-breaking WrestleMania 39 at SoFi Stadium in California was proof optimistic.

“During the COVID-19 pandemic, when national and international sport properties paused or canceled their events, WWE continued producing its weekly programming and pay-per-views,” Dr. Kaplanidou and her co-authors (Artemisia Apostolopoulou, Ph.D.; Michelle L. Patrick, Ph.D.; and Dimitra Papadimitriou, Ph.D.) wrote within the 2022 guide, Case Studies in Sport Business Marketing.

This noticed tenacity paid off and, in January 2021, WWE Network content material moved to Peacock (NBCUniversal’s streaming service) in a five-year deal price greater than $1 billion.

“For WWE, transitioning to Peacock puts the brand in a better position to grow by showcasing its events and superstars to a broader audience,” Dr. Kaplanidou and her co-authors wrote. “Could this most recent partnership with Peacock be the move that propels WWE to mainstream status in a crowded sport and entertainment landscape?”

To reply their query, it actually didn’t damage. That similar spring, WWE launched its “Then. Now. Forever. Together” tagline to specific appreciation for the religious shoppers who supported the model mid-pandemic. Former WWE Chief Brand Officer Stephanie McMahon was quoted as saying, “We are all about bringing people together, putting smiles on people’s faces, and creating moments and memories that last a lifetime.”

That sentiment was undoubtedly evident at WrestleMania 39, when greater than 160,000 followers gathered on April 1 and a pair of for the reside occasion. The gate generated $21.6 million, sponsorship revenue reached more than $20 million, and a total of 11 million hours of video were watched on both days (breaking last year’s record by 42%). Headliner Roman Reigns, assisted by The Bloodline, retained the WWE Undisputed Universal Championship in opposition to Cody Rhodes.

“In the world of entertainment, WWE is a frontrunner, a global entity, and a leader in the production and dissemination of sports entertainment content,” Dr. Kaplanidou and her co-authors wrote. “Support for WWE worldwide is strong and passionate, evidenced by the high number of international fans and media representatives who, each year, attend WrestleMania.”

As the model continues to evolve (it simply made headlines for its current standing as a publicly-listed company), WWE will solely develop. And each metropolis that’s chosen to host WrestleMania (subsequent yr, will probably be Philadelphia, Pennsylvania) will expertise an financial boon.

“Irrespective of where WrestleMania is happening, you have an influx of people taking over the area. With that, there is the economic impact that the city enjoys with regards to dining expenditures and hotels and entertainment dollars,” Dr. Kaplanidou mentioned. “The event brings with it so many opportunities for business legacy development. WrestleMania is unique because it is quite theatrical, and spectacles serve as a networking ground for major clients who support the event (but also want to expand their business wherever the event is taking place).”

In 2021, WrestleMania passed off in Tampa, which Dr. Kaplanidou and her co-authors known as a serious milestone occasion. 

“It was the first WWE show during the pandemic that included a live audience, albeit restricted in numbers, and the first pay-per-view event delivered on Peacock,” they wrote, signaling the revival of the model. “World Wrestling Entertainment was back in business.”

Where will the enterprise go from right here? Dr. Kaplanidou and fellow researchers can be watching.

Abby Weingarten April 4, 2023