Vince McMahon Blames "Talent Absences" For WWE's Declining Numbers
Interesting take...
WWE didn't exactly have their best day on Wall Street Thursday, as company stock fell 13.3 percent. Make no mistake, though: the wrestling giant is by no means nearing financial ruin.
The fall can be attributed to WWE's Q1 conference call for investors earlier this morning, which churned out some somewhat-unfavorable news. Among the reports were a 15 percent drop in live event revenue from this time a year ago, as well as an 11 percent drop in consumer goods. Additionally, revenue dropped from $187.7 million to $182.4 million year to year.
In the call with investors, Vince McMahon laid blame for declining numbers on the absence of, "Some 15 talents."
Said McMahon, "When you don't have talent, you don't have storylines. When you don't have storylines, you're not going to do that well in terms of live events and television ratings. It was like a cascade of things that happened."
WWE co-President George Barrios echoed McMahon's comments, saying it wasn't just the absences, but, "the magnitude of all at one time that felt unique."
McMahon did speak optimistically about the future, citing the return of the absent talents, as well as new talents that have been created. He also cited new additions to the creative team as another positive.
The fall can be attributed to WWE's Q1 conference call for investors earlier this morning, which churned out some somewhat-unfavorable news. Among the reports were a 15 percent drop in live event revenue from this time a year ago, as well as an 11 percent drop in consumer goods. Additionally, revenue dropped from $187.7 million to $182.4 million year to year.
In the call with investors, Vince McMahon laid blame for declining numbers on the absence of, "Some 15 talents."
Said McMahon, "When you don't have talent, you don't have storylines. When you don't have storylines, you're not going to do that well in terms of live events and television ratings. It was like a cascade of things that happened."
WWE co-President George Barrios echoed McMahon's comments, saying it wasn't just the absences, but, "the magnitude of all at one time that felt unique."
McMahon did speak optimistically about the future, citing the return of the absent talents, as well as new talents that have been created. He also cited new additions to the creative team as another positive.
Written by Justin Henry
In addition to writing lists and commentaries for Cultaholic, Justin is also a features writer and interviewer for Fighting Spirit Magazine, and is co-author of the WWE-related book Titan Screwed: Lost Smiles, Stunners, and Screwjobs.
