Mik Pandit discussed the future of wrestlers streaming. Pandit spoke as an individual, not as a representative. Mik discussed his knowledge as an independent wrestler as well as what he does at NBCUniversal.
I have a specific history; I’ve been in wrestling world as an individual wrestler for 14 years so about and have been able to do some consulting and evaluation work for WWE during that time, Pandit explained.
Aside from just that, I’ve worked as an attorney in New York, and I currently work in commercial transactions at NBCUniversal. Those of you who also don’t know what it means, it means I’m a very small part of a very smart expert devoted group of businessmen who work to create contracts with actors, executives, writers, and video content companies to offer a wide range of the shows you like to your TV.
Pandit believes this gives them a significant advantage. This does not reveal any of it internal, but NBCU executives have been vocal about how pleased they are with the WWE’s drive to bring subscribers to the Peacock platform.
Part of WWE’s benefit is that they have new events every month, but they also have these big events twice a year, arguably three or four times a year. Your WrestleManias, the forthcoming supershow in the UK, and Saudi events drive consumers who may not have enrolled to say, “I have had to watch this.”
I don’t understand Nick Khan, but he kept bringing up this point. When it comes to streaming services, we’re seeing what’s known as peak subscription or subscription fatigue, according to Pandit. 5 years earlier, since there was Netflix as well as the WWE Network, it was fantastic; for $10, you could watch all of the wrestling in the globe.
Now that HBO Max is $15 a month, Disney Plus is $10 a month, Netflix is probably $17 a month, and Paramount is $10, there are many other subscription-based products available even outside of entertainment consumption.
You’re approaching the point where justifying paying $10 a month for wrestling content will be difficult for all but the most ardent fans. Someone who likely watches about one in 3 pay-per-views is unlikely to. The benefit of AEW is that they will have an estimate of 1 million linear cable audiences each week.
Many of those people are likely to have access to an HBO Max, so I’d imagine it’s more valuable for HBO Max to have that content on HBO Max in order to grow and retain their subscription base. If half of those 1 million AEW fans subscription to HBO Max, that’s 400,000 fans and subscriber base who will drop off at a lower rate than the average subscriber.