WWE President Nick Khan explains why SummerSlam is a Saturday – .

WWE Network On peacock now available on Amazon Fire devices – .

WWE President and Chief Revenue Officer Nick Khan was recently on the Recode the media podcast with Peter Kafka. In March of this year, the WWE Network officially launched on the NBCU Peacock streaming service. Khan explained why WWE took the step.
“What ultimately caused the decision was the realization, which may seem obvious, that we are not a tech company,” Khan said. “In 2014, we were only supposed to be the second best in the world at OTT after Netflix, or if you put Hulu there, we had to be the third best in the world. Now that the streaming wars, if you will, have begun, you see companies with much larger market caps than ours, some with market caps of $ 300 billion, Amazon with a trillion, nearly $ 2 trillion. of market capitalizations, enter the space.

“We didn’t think it would be possible for us to compete, technologically, over time. He’s still available, WWE Network, in many other parts of the world, but in the US it made sense to partner with someone and make them a little less emphasis as we try to position or reposition ourselves. ourselves as a media company, not a technology company.

Khan admitted that technology wasn’t the only motivation to switch to Peacock. He explained how the move helped increase their audience.

“I think technology was the driving force, but certainly, as you can imagine, generally these big pivots in business reflect a myriad of things,” noted Khan. “It’s not just one thing, not just technology. We saw an opportunity, again, with NBCU, through Peacock, to bring our products to a wider audience. Let’s talk Slam summer this weekend for example. Traditionally, if this was available on pay-per-view, let’s say it was between $ 50 and $ 75.

“Limited audience to do this. If you had over a million purchases, it was a very successful evening. Keep in mind that of the $ 50 to $ 75, about half goes to the ATM, as we all know. You don’t really see the return on a smaller audience that invests in your product. With WWE Network, I honestly don’t know what the goal in terms of subscribers was when they launched it because obviously I wasn’t working there at the time, and I wasn’t in the business. company at that time as an agent, that’s what I did for a living before taking this job.

“But what I can tell you is that once that is, hey, where does the consumer want to spend their money, ESPN +, Disney +, Netflix, Hulu, HBO Max, Peacock, you call it, DAZN, whatever it was, it sort of looked like it was going to be a lot more competitive for that monthly dollar than it was in 2014. So to increase the audience and l ‘exposing to a wider audience, we thought with Comcast, in particular, and NBCU, that Peacock being available in XFINITY homes, in Comcast wired homes for free, that those 25 million or so homes, was a way of ” increase the audience. And of course, on the ad-supported level of $ 4.99 per month, we could go down to our customers and say, hey, that’s half the price. “

WWE Network subscribers typically hovered around 1.5 million. Khan discussed whether this affected the move to Peacock and used a recent WWE PPV as an example of the movement’s effectiveness.

“It’s hard for me to say, at all levels, yes or no on this,” Khan admitted. “I knew that for us it was not enough. What we talked about again is that even if you look, and you wouldn’t have those numbers, we got them last week. If you watch our pay-per-view, Money in the bank from two or three weeks ago in Fort Worth, TX, our audience increased by 20% compared to 2019 Money in the bank audience then delete the pandemic year. From an apples to apples comparison, our audience and our audience have already grown, in terms of people viewing our content. So yeah, it seems to be working, the fans seem to be okay with that.

Khan also discussed how Peacock affected the shows themselves. He explained why it allowed them to have Slam summer this evening.

“I think it also allows us to test some things with Peacock, in terms of dates, so even Slam summer, which is this Saturday, ”Khan said. “Traditionally, we have chosen Sundays for pay-per-views. We believe that in the sports calendar there are certain days when there should be sports and there is not. We think this Saturday is one of them. So traditionally we haven’t done as well in terms of the box office in Las Vegas. If you think about the connotation of Sunday.

“I will speak for you in this particular case, on our time together today. I’m sure never in your life has someone said to you, “Let’s go to Vegas and go crazy on a Sunday. »If you look Monday evening gross, no one ever says, “Let’s go to Vegas and go crazy on a Monday.” It’s a Friday and Saturday night town, and even if you look Smack down, which is on FOX on Friday, not many people say, “Let’s go to Vegas at 3:00 p.m. Pacific so we can be in our seats by 5:00 p.m. Smack down. So we figured Saturday night would work for us in Las Vegas. We believe ticket sales reflect this. We have a large audience coming out on Saturday and a large door to accompany it. “

If using quotes from this article, please credit Recode Media with ah / t to Wrestling Inc. for the transcript.


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