Report: WWE Wants To Become 'The Next Marvel'
Are big changes coming to the WWE model?
WWE is reportedly ready to expand from being a wrestling product into becoming a full-scale media universe.
Front Office Sports is reporting that WWE has installed a strategy that will see the company become 'the next Marvel'. The content stream will be driven by current characters such as Roman Reigns and legends that transition into mainstream media, like The Undertaker.
A source told FOS: "At first glance, WWE’s a wrestling company. But it’s really a media/content company with a treasure trove of IP that appeals to young demos."
WWE see a lot of growth potential in their product, particularly with their media reach, and have identified the Marvel model as the best to utilise. Marvel went from being a struggling comic book outfit to a global powerhouse in television, film and theme parks in 25 years.
WWE's programming currently reaches 900 million homes worldwide and the company posted record revenue of $974.2 million in 2020, and the promotion's recent moves suggest the switch in strategy.
The five-year, $1 billion deal with Peacock for the rights to the WWE Network, as well as the appointment of Nick Khan last August, certainly indicate a change in approach for WWE. On Tuesday, the promotion brought on Jamie Horowitz as Executive Vice President, Development And Digital.