2. Stop Funding Pet Projects
WWE has a nasty habit of investing in one-off adventures which rarely turn out great. Early boondoggles ranged from World Bodybuilding Federation/ICOPRO supplements/Bodybuilding Lifestyles Magazine/Bodystars television show to Attitude-era flops Times Square World Restaurant and XFL Football League. Also, in there was the No Holds Barred movie, Sugar Ray Leonard Boxing PPVs, the World Wrestling Federation Casino (a $11M real estate risk that they barely broke even on), Stephanie Music recording label and investing in the social media video service Tout. Most recently they revealed that WWE put money into Hero Ventures ("an ambitious touring property featuring Marvel Entertainment's Universe"). Why did they choose that specific project? Most likely because WWE Board of Director member Basil DeVito Jr. (and former president of the XFL) is on the Hero Ventures Board of Directors. They don't seem to be choosing these projects with a clear head. WWE is constantly searching for that golden opportunity that proves they are an Entertainment Company and not just a wrestling company. The problem is, they're really good at being a wrestling company, and average (at best) when they go into other people's bailiwicks. The current WWE Studios boondoggle demonstrates that instead of ejecting an idea that isn't working, they get caught up with year-after-year of "refining the distribution model". They need to insulate the entire company from impairment charges and embarrassing theatrical releases. In the past, some of WWE's most expensive failures luckily coincided with enormous Attitude Era wrestling profits. But they can't count on luck to carry them through forever.