Wednesday News Update: WrestleMania 29 Generated $100 Million to NJ/NYC Area
You know that little company we write about on this website called WWE? They have money. A lot. And they don't mind telling you about it. Here's the opening of a press release posted by PWInsider.
WrestleMania(R) Generates More Than $100 Million for Host City for Second Consecutive Year
STAMFORD, Conn.--November 20, 2013-- WWE (NYSE:WWE) and New Jersey Governor Chris Christie today announced that WrestleMania 29 generated $101.2 million in economic impact for the New Jersey/New York region this past April, according to a study conducted by the Enigma Research Corporation. This marks the second consecutive year that WrestleMania generated more than $100 million in economic impact for its host city.
Over the past six years, WrestleMania has generated more than $400 million in cumulative economic impact for the cities that have hosted the event. WrestleMania 29 also generated approximately $16.5 million in local, state and county taxes.
Here are some of the stats that the Enigma Research Corporation shared in the press release.
A capacity crowd of 80,676 fans from all 50 states and 34 countries attended WWE's pop-culture extravaganza this past April, making it the highest grossing entertainment event at MetLife Stadium. Key highlights from the study include:
-- $101.2 million of direct, indirect and induced impact derived from spending by non-locals visiting specifically for WrestleMania 29.
-- 54% of fans that attended WrestleMania were from outside the New York/New Jersey area and stayed an average of four nights.
-- The economic impact derived from WrestleMania Week was equal to the creation of 943 full-time jobs for the area.
-- $5.2 million was spent by non-locals at New Jersey and New York restaurants.
Do I believe every number? Not really. This is WWE we're talking about. That doesn't mean I doubt the success of the show. The attendance was probably close to that number and the money mentioned in this article is likely accurate for the most part. These things are usually pumped up to make things look even more impressive.
It's obvious that WrestleMania is a huge money maker for WWE every year and for the city that hosts it. That's why there are bids every year. If you have a NFL sized stadium that can hold 65,000+ people you have a shot at it. The sad thing is that WrestleMania 29 was a very average show. All I really remember from it is Undertaker/Punk, which I loved. The rest of it was largely forgettable.
I've been on Ticketmaster and other sites to check out tickets for WrestleMania 30. It looks to be selling well too. The name WrestleMania sells. The experience in the city sells. I can't afford too many vacations. If I go to WrestleMania 30 (that's the plan) part of the draw to me is experiencing New Orleans because that's always been a city I have wanted to visit.
IN OTHER NEWS
- There was a report from PWInsider Elite (shared here at WrestlingINC) about why Monday's Raw had the 12 man tag match main event instead of holding that match off for Survivor Series.
Many fans have been wondering why WWE chose to do The Shield and The Wyatt Family vs. CM Punk, Daniel Bryan, Cody Rhodes, Goldust and The Usos at RAW instead of the Survivor Series pay-per-view. From the moment they did the big 6-on-6 tease two weeks ago, the plan was to come back and do the actual match on RAW the following week. WWE never considered putting the match on pay-per-view.
WWE's #1 priority right now is building up RAW and SmackDown to the point ratings are strong so they can be in control when it comes to negotiating TV rights fees here at home and internationally.
The feeling is that if they can double or triple their TV rights fees then they will be doing well financially for a long time to come. With the recent $8.2 billion TV deal that NASCAR signed, some people within WWE actually believe that they can quadruple their rights fees.
It makes sense that WWE wants to make more money off the TV rights fees. I don't think they're going to quadruple their rights fees, but I think they will at least double it. When you can say you are one of the most watched programs on TV every week for 20+ years that gives you a lot of leverage. USA Network is happy with them and I expect WWE to stay there. Smackdown would be better on Thursday nights I think, but WWE seems content in keeping it on Fridays.
My question is, if you want to hold off big matches for Raw then why not advertise them? Raw ended last Monday with a fantastic brawl involving 12 people. If you knew that was going to main event Raw this past week why not advertise it on Main Event, Smackdown and the website? We didn't know the match was happening until the beginning of TV this week. You have to advertise matches so fans know.
It will be interesting to see how WWE promotes PPV shows once the Network launches likely in February. Will they be considered as important as they are now? I don't know if they will be. That's a whole other column for the future.
- Here's an Alberto Del Rio interview with DigitalSpy.com that covers a lot as he focuses in on Survivor Series. Here's an excerpt from it when he was asked if he likes being the bad guy more or being a good guy.
"I love being the bad guy. I think that the audience prefer me as a bad guy. That's the reason we don't have too many good heels in the company, because to be a real heel you have to be a little bit of an asshole in real life, and that's me. I'm a good person. But if you mess with me I'm the biggest asshole in the world. That's the reason I'm playing the character so well. Plus being the bad guy you control everything - you control the ring, the audience, your opponent, and I like to be in control. So being the bad guy."
He's definitely a better bad guy than a good guy although when he beat Big Show for the World Title earlier this year it was as a babyface and that was well done. Part of the problem with his character is he's just too repetitive without freshening things up. I also think he was better with Ricardo Rodriguez at his side. Managers are good for heels to have.
- Here are 7th and 8th episodes of Chris Jericho's "But I'm Chris Jericho" online show on Youtube:
I'm not really sure why the 7th video is over 8 minutes and the 8th video is less than 5 minutes, but there ya go. I have liked the series for the most part. Some parts are really funny. At other times it can be the kind of bad comedy that makes me want to turn it off, but I generally like it.
- The WWE legal team has some work to do. This is a bit weird.
Major League Baseball's Minnesota Twins are in the process of opposing WWE's registration of the "Bella Twins" trademark. They have requested an extension and have until February 12th, 2014 to file an opposition or request another extension. (WrestlingINC)
This is happening now? In 2013? The Bella Twins have been on the WWE main roster since 2008 and aside from a year long break have been on TV consistently. I don't understand the logic of challenging a trademark that is that old. Maybe nobody that works for the Twins ever watched WWE or heard about it. I also don't understand how calling characters "The Bella Twins" would be infringing on their trademark of their team name.
Somebody get that Harvard lawyer David Otunga on the case. It's not like he is busy wrestling.
That's all for now. Look for a Survivor Series preview on Saturday morning and a review on Monday. Keep reading everything we post on the site. Thanks for all your support.
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