WWE’s WrestleMania took in $20 million in sponsorships

Craig Stimmel, WWE’s senior vice president and head of global sales and partnerships, told The Associated Press in an interview that sponsorship revenue for this year’s event doubled to more than $20 million, a record for the any WWE event.

Those numbers are critical in light of the return in January of Vince McMahonthe founder and majority shareholder of WWE, who said the sports entertainment company could be sold.

There have been many rumors circulating about who might be willing to buy WWE and for how much, and it is unknown if anyone has actually stepped up with a bid. But the company’s expanding presence everywhere from TikTok to streaming channels could drive up the asking price.

Marketing experts see WWE as a prime spot for brands because of the makeup of its core audience. That audience from minors to the elderly, has a wide range of income, it is global, and it is passionately dedicated to the craft, said T. Maxwell, a partner at Max Sports Marketing.

“WWE fans are incredibly loyal and dedicated, they’re hooked, they want to talk and be WWE fans for life,” Maxwell said. “This creates an amazing opportunity for smart brands to connect with a unique audience for life.”

The company, based in Stamford, Connecticut, is leaning heavily on its marketing potential and is looking for new ways to attract fans and sponsors.

For the first time in a premium live event in January, WWE included the branding of a company (Mountain Dew) on the ring canvas, in post-show press conferences and elsewhere. WWE also played with the product the company introduced to consumers, a drink called “Pitch Black.” The match is made in the dark, in a ring with fluorescent ring ropes and equipment.

During last year’s WrestleMania, wrestlers Shinsuke Nakamura and Rick Boogs joined the colors used by Mike’s Hard Lemonade to launch a new drink in the gear they wore to the ring.

Stimmel said that WWE will involve corporate brands at this year’s WrestleMania in several ways, including a match sponsorship, a “blurring of the fourth wall” between what the home viewers see and what the fans observe. live audience and an augmented reality experience.

“We’re trying to find the perfect marriage of brand and story,” Stimmel said.

WrestleMania 39, a two-day event that begins Saturday at SoFi Stadium outside Los Angeles, has 12 sponsors, half of which are returning from last year’s event.

While there has been pushback from fans in some sports leagues that have tried to introduce more advertising, this does not appear to be an issue for WWE.

“I think WWE fans are more receptive to (sponsors) than traditional sports,” Maxwell said.

Sponsors want to capitalize on WWE’s push into social media as the company continues a multifaceted online effort to reach the audience of the YouTubeTikTok and more.

The company surpassed 16 billion social video views in the last quarter of last year. It has almost 94 million subscribers on YouTube and has more than 20 million followers on TikTok. Its female wrestlers comprise five of the top 15 most followed female athletes in the world, worldwide. Facebook, Twitter & Instagram, led by Ronda Rousey with 36.1 million followers.

WWE had more than 7.5 billion digital and social media views in January and February of this year, up 15% from the same time frame a year ago.

The size of the net cast by WWE to capture viewers has been noted by retail analysts.

“WWE has multiple channels to connect with customers which is important for sponsors who don’t want to rely on just one medium,” said Neil Saunders, managing director of GlobalData. “This basically gives brands more bites of the cherry to reach customers. WWE has built an entire entertainment ecosystem that brands can leverage and use to push their marketing messages.

Even the timing of WrestleMania in early April, which falls between the end of the National Football League season and the early days of the Major League Baseball season, puts WWE in a position to land more sponsors.

“WrestleMania is our Super Bowl,” Stimmel said.