AEW Estimated To Lose $34 Milliion In 2023

Estimates from Brandon Thurston of Wrestlenomics have suggested All Elite Wrestling will lose $34 million in 2023. 

It has been estimated that AEW will generate approximately $154 million in net revenue this year, up from $100 million in 2022. The United States media rights deal with Warner Bros. Discovery will bring in a bulk of AEW's revenue, estimated to be around $68 million per year to air Dynamite, Rampage, and Collision, with the current deal believed to expire at the end of 2024. AEW brings in additional revenue from international TV deals with the likes of ITV in the United Kingdom and Eurosport in India to generate a further $7.8 million. 

In total, Wrestlenomics have estimated AEW will bring in $98 million for 2023, which includes an additional $19.4 million from pay-per-view buys. Another $34 million, meanwhile, will be generated from just over 500,000 ticket sales by the end of the year, along with a further $22 million in revenue from consumer products. 

The increased revenue is still lower than AEW's expenses, however, and talent compensation is estimated to cost AEW around $85 million per year. Media and event operating expenses add another $66 million to outgoings, while consumer products licensing expenses and general expenses bring AEW's estimated outlay to just over $188 million. 

Overall, Wrestlenomics has estimated that AEW will have an EBITDA (earnings before interest, taxes, depreciation, and amortisation) of $34 million in losses for 2024. The promotion's net income will be even worse.

This doesn't mean the future isn't bright for All Elite Wrestling, though, and Wrestlenomics noted a strong increase in the promotion's United States media rights fees could make AEW profitable from as early as 2025.