WWE Stock Market Losing Confidence In Vince McMahon?
Broken promises and subpar explanations are hurting WWE's Wall Street rep.
The United States stock market is losing faith in Vince McMahon.
This is according to Dave Meltzer on the latest episode of Wrestling Observer Radio. He reports that WrestleMania 36 ending up on WWE Network would represent another confidence hit, given that McMahon had promised to announce a deal taking his company's pay-per-view rights off their own OTT streaming platform and onto another by the end of Q1 2020, adding it to the growing list of issues the market has with Vince at the moment.
Said list includes the sacking of top executives George Barrios and Michelle Wilson, which was never adequately explained. On top of this, investors were also told for years that the WWE Network was vital not only as a content platform, but also for the analytics it would provide, with McMahon and Barrios promising it'd teach them everything they need to know about their consumers. Now, its content is being sold off and the market is being told that the data isn't important anymore.
Again, Vince had no explanations for this.
Meltzer also talks about the underwhelming TV rights deals in the United Kingdom and India, both of which are worth considerably less than estimated. He says that people are starting to take note of all this, questions are being asked, and failure to close on the aforementioned PPV deal by the end of Q1 2020 would bring more lost confidence.
WWE's stock value dropped by $1 billion within 24 hours of the PPV rights plans being announced.