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WWE's WrestleMania 40 Ticket Sales Show Strength of the Brand Months Before 2-Day Event 

A WrestleMania sign hangs over the crowd during the WWE Monday Night RAW event, Monday, March 6, 2023, in Boston. (AP)
A WrestleMania sign hangs over the crowd during the WWE Monday Night RAW event, Monday, March 6, 2023, in Boston. (AP)
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WWE's WrestleMania 40 Ticket Sales Show Strength of the Brand Months Before 2-Day Event 

A WrestleMania sign hangs over the crowd during the WWE Monday Night RAW event, Monday, March 6, 2023, in Boston. (AP)
A WrestleMania sign hangs over the crowd during the WWE Monday Night RAW event, Monday, March 6, 2023, in Boston. (AP)

WWE is flexing its branding muscle, selling more than 90,000 tickets to next year's WrestleMania about eight months before the premium live event is held and before a single match has been announced.

Tickets for WrestleMania 40, which will take place in Philadelphia on April 6 and 7, 2024, went on sale on Friday. In one day, ticket sales for WrestleMania 40 topped the all-time total gross record of $21.6 million set by this year's WrestleMania 39.

The blockbuster ticket sales come on the heels of this month's SummerSlam, which had ticket sales of $8.5 million, the largest amount for any non-WrestleMania event ever.

WWE's WrestleMania is the Super Bowl for the sports entertainment company. The company successfully shifted it to a two-day event during the COVID-19 pandemic in 2020 and has kept that model in place.

Much like NFL fans with the Super Bowl, wrestling fans will travel from all over to attend a WrestleMania event and make a full weekend of it. Many take part in meet and greets with wrestlers, buy exclusive merchandise and view historical wrestling artifacts on display before attending the event.

WrestleMania has built up the value of the brand over the years by having its matches be the payoff for storylines involving its top stars, mixing in celebrities, surprises, and providing over-the-top flair, whether it be through the gear wrestlers wear or their ring entrances.

Die-hard fans know what they can expect, which makes it easier for them to buy tickets months ahead of time when they don't yet know what a single match will be.

World Wrestling Entertainment Inc. has also used its marketing skills to push WrestleMania ticket sales. Some of the company's top wrestlers have recently made appearances in Philadelphia to promote the event, including a cross promotion with the NFL's Philadelphia Eagles, with wrestling fans being able to follow it all via WWE's social media platforms.

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Entertainment

Netflix Shares Soar on Price Hikes and Record Subscriber Gains

FILED - 14 May 2024, North Rhine-Westphalia, Cologne: The word "Netflix" shines brightly at the presentation of one of its series. Photo: Rolf Vennenbernd/dpa
FILED - 14 May 2024, North Rhine-Westphalia, Cologne: The word "Netflix" shines brightly at the presentation of one of its series. Photo: Rolf Vennenbernd/dpa
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Netflix Shares Soar on Price Hikes and Record Subscriber Gains

FILED - 14 May 2024, North Rhine-Westphalia, Cologne: The word "Netflix" shines brightly at the presentation of one of its series. Photo: Rolf Vennenbernd/dpa
FILED - 14 May 2024, North Rhine-Westphalia, Cologne: The word "Netflix" shines brightly at the presentation of one of its series. Photo: Rolf Vennenbernd/dpa

Netflix reaffirmed its dominance of the streaming video market on Tuesday, as its mixture of live sporting events, popular returning series - and singular moments, such as a football halftime performance by Beyonce - helped attract a record number of subscribers over the holiday quarter.
The company added 18.9 million subscribers in its fourth quarter to bring its total global subscriber base to nearly 302 million customers - a number that dwarfs its Hollywood streaming rivals, Reuters reported.
Netflix sought to capitalize on its galloping popularity by raising prices in the US, Canada, Portugal and Argentina as it spends more on programming. In the US, the company's ad-supported service will cost $7.99 a month, up from $6.99, while the premium package will cost $24.99, up 9% from existing pricing.

Investors reacted enthusiastically to the results, sending Netflix's stock surging about 13% in extended trade, lifting its stock market value by almost $50 billion. Over the last year, Netflix shares have gained more than 77%, outpacing the S&P 500's 24% rise.

"Netflix reaffirms its leadership position and is absolutely running away in the streaming market," said Paolo Pescatore of PP Foresight. "It is now flexing its muscles by adjusting prices given its far stronger and diversified programming slate compared to rivals."

The company said its fourth-quarter programming slate surpassed its own expectations, with viewers bingeing on the second season of its dystopian survival thriller "Squid Game," which the company said is on track to become one of its most-watched original series.
Netflix's deepening investment in live-streamed events is drawing tens of millions of viewers. The heavyweight boxing match between Jake Paul and Mike Tyson in November attracted 65 million streams. The two National Football League games on Christmas Day, one featuring Beyonce's halftime performance, brought in an average of 30 million global viewers, ranking among the most-streamed competitions in league history.
“To state the obvious, it’s content that drives users to streaming services," said Forrester Research Director Mike Proulx. "With the biggest bump in subscribers ever, Netflix’s attention to quality content is the reason for an overall strong year and fourth quarter."
Netflix said it has shaken off the impacts of COVID-19 and the 2023 Hollywood writers' and actors' strikes, and is delivering returning seasons of its most popular shows, including the Addams Family series "Wednesday," and the supernatural "Stranger Things."
It will also broadcast more live events, including weekly installments of WWE "Monday Night Raw" wrestling. It secured the rights for the FIFA Women's World Cup in 2027 and 2031, a deal which it says illustrates its strategy to deliver special-events programming, rather than regular season sports packages.
Such live events are attractive to advertisers, because they draw audiences that watch in real time.
"We exceeded our ads revenue target in the fourth quarter," said Netflix Co-CEO Greg Peters, adding, "We doubled our ads revenue year over year last year. We expect to double it again this year."
The company said the ad-supported version of its service accounts for 55% of its new sign-ups in countries where it is available.
Macquarie Equity Research analyst Tim Nollen predicted that ad revenue will increase to $2 billion this year, as more people sign up for the company's advertising-supported tier and Netflix's advertising technology matures. Live events will continue to drive sign-ups, he wrote in an investor note published prior to Netflix's earnings report.
This quarter will also mark the last time Netflix reports subscriber additions, as the company emphasizes other performance metrics including revenue and profit - a change analysts attribute to slowing subscriber growth.
The company reported per-share earnings of $4.27, beating Wall Street's forecast of $4.20 per share, according to an average of projections from 34 analysts. Annual operating income exceeded $10 billion for the first time in the company's history.
Revenue rose 16% over the same time a year ago, to $10.2 billion, compared with Wall Street's estimates of $10.1 billion for the quarter, according to LSEG. The jump in subscribers in the quarter did not create a similar spike in revenue because sign-ups occurred throughout the quarter, said one person familiar with the matter.
The company revised its guidance, projecting revenue of $43.5 billion to $44.5 billion in 2025, an increase of a half-billion dollars over the prior forecast. The updated guidance reflects improved business fundamentals, the company said.
Netflix's board also approved an incremental $15 billion to repurchase shares, which brings the total buyback authorization to $17.1 billion.