WWE’s CBO Stephanie McMahon Reveals Why They Don’t Want to Compete With Disney, Apple or Amazon

WWE is refocusing on its priorities as the promotion returns to live touring this summer. WWE Chief Brand Officer Stephanie McMahon appeared on CNBC’s “Squawk on the Street” on Monday morning to discuss various business moves.

One of the major news of WWE recently has been its streaming services’ acquisition by NBS’s Peacock. As one of the first OTT platforms, WWE Network used to stream everything WWE be it past or present.

While WWE Network is still prevalent in the rest of the world, Peacock is overseeing WWE streaming in the US. According to Stephanie McMahon, this decision was a result of WWE not wanting to compete with other major streaming services on the technology front.

“I think one of the key lessons that we learned is that we don’t wanna be competitive in the technology business against the likes of Disney and Apple and Amazon etc,” McMahon said.

However, WWE will continue to compete in terms of content while Peacock takes care of the rest. “We want to be competitive in terms of content because we are storytellers, she said. “That is what we do best, and that is what we’re going to focus on.”

Acknowledging the impending importance of Peacock, Stephanie also said, “We’re very grateful for our partnership with Peacock where we can now provide the best [of] our premium content for Peacock as well as, you know, move forward and double down and invest in our content and what we do best.”

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Stephanie McMahon reveals WWE is noticing “significant trends” for live events

WWE decided to host SummerSlam on a Saturday in an NFL stadium for the first time. Stephanie revealed the “positive trends” regarding live audiences have pushed the company to do so.

With the return of the live events, WWE is hoping to gather up huge revenues in sales growth as well. Ahead of the pandemic, Stephanie said, “The majority of our revenue is contractual through our media partnerships but then when you think about our live event business, it’s over a one hundred million dollar business for us annually.” 

However, WWE’s distribution deals and merchandise allowed WWE to control their losses to some extent. An increase in e-commerce revenue helped out the company. Now, WWE is hoping to gather more revenue in live event ticket sales and event merch.

Apart from this, Stephanie McMahon also announced WWE is looking for international partners like Peacock to cater to their international audience. WWE is also looking forward to replicating their US success in other countries with local products.

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