Wrestling Entertainment Business Plan – Project Topics for Student
Executive Summary
Professional wrestling has never been hotter than it is right now. During the last year, 7 of the Top 10 cable television shows each and every week have been professional wrestling. Last month, Tonight Show host Jay Leno asked NBA Superstar Shaquille O’Neal what his favorite thing to watch on TV was. Shaq quickly replied “professional wrestling.”
The NBC Television Network announced the results of a national survey last February in which it listed the “top viewer sports” in America as:
National Football League Professional Wrestling Major League Baseball National Basketball Association.
Professional wrestling is true family entertainment with demographics ranging from ages 3 to 93, 40% female, and very heavy in the 21 to 49-year old male market as well. In addition, 35 million people watch professional wrestling on TV every week. Millions more flock to sold out arenas to see it in person.
The top two pro wrestling organizations in the industry are the World Wrestling Federation (WWF) guided by its president Vince McMahan, Jr. and the Ted Turner-owned World Championship Wrestling (WCW).
TV Guide has predicted that the WWF will make $550 million this year while WCW will make $350 million. Vince McMahan took the WWF public during the first quarter of this year and raised an additional $250 million in the process. McMahan is making so much money that he recently announced that he was forming his own professional football league (The Extreme Football League) in attempts to compete with the National Football League.
At this point in time, there is a large gap between the top two pro wrestling organizations and all others. The closest to being third is a small group out of New York/Philadelphia calling itself Extreme Championship Wrestling (ECW). ECW fails to have mass appeal and profit potential because of its extremely violent and “hardcore” nature.
ECW’s ratings for their weekly Friday television program on The Nashville Network (TNN) have hovered below the 1.0 mark, while TNN has promised their advertisers a 2.5 rating. IWA Championship Wrestling (IWA) has established as it’s goal and mission to create a family oriented television product and live events to maximize its appeal to television viewers, sponsors, advertisers and those attending “live” events and buying pay-per-view.
It is the goal of the IWA to become the #3 pro wrestling organization in the industry within three years, while, at the same time, making a minimum of 10% of the current monies being made by the #2 organization (WCW) or, approximately $35 million per year, with projected costs of approximately one quarter that amount, thus creating a viable, profitable scenario for all of those involved.
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1.1 Objectives
IWA Championship Wrestling has set the following objectives to be achieved during over first three years of expansion and growth:
Become the third most popular professional wrestling organization in the industry. Secure a national cable television contract for a weekly one-hour program. Begin production of the weekly, one-hour pro wrestling program. Recruit top available established talent and develop new talent, writers, and managers. Syndicate and distribute television programming worldwide. Promote live event tours in areas where television programming is seen.1.2 Mission
IWA Championship Wrestling will establish a family-oriented television program for domestic and international distribution and sale. It will support the television program with live event tours. Additional revenues will be generated from:
Quarterly pay-per-view events. Sponsorships and advertising revenues. Merchandising of souvenir, concession items, and a series of videos for sale via live events, mail order, and the official IWA website. Creation of an IWA Professional Wrestling School .Personal appearances fees on engagements booked for IWA talent.
Within 3 years, the IWA will become recognized and established as the #3 professional wrestling organization and a major player within the industry. Our programming will consistently receive TV ratings in the 2.0 to 2.5 range, and we will have used major established stars to entice viewers and fans to tune in while, at the same time, developed outstanding new talent from within.
Within five years, the IWA will be in a position to make a serious run at the second most popular position in the industry currently held by WCW and generate approximately $35 million per year in revenue.
The IWA will base its appeal on filling the major void currently existing in professional wrestling by providing “family oriented” and “family friendly” professional sports entertainment programming and live events. By appealing to the masses, rather than a limited group of hardcore fans, the IWA will seek to maximize its appeal, exposure, and profits by being truly committed to “family” values.
Currently, no such pro wrestling programming exists. Fans have only the WWF and WCW programming available and they are carbon copies of each other in format and design. There is a high emphasis on extreme violence, vulgarity, disrespect of authority and women, nudity, and use of alcoholic beverages in the ring and locker room areas … all seen as part of their weekly television programming.
The only alternative to WWF and WCW programming currently is Extreme Championship Wrestling (ECW) which appears on the Nashville Network (TNN) and appeals to the hardcore, extreme fan only.
IWA fans will be encouraged to have their children follow our programming, and we will create role models that are strong, positive, and family oriented in every way. The IWA will bring “rasslin’” back to professional wrestling, and put the emphasis on talent, skill, and ability as opposed to warped, demented story lines currently in vogue with the other organizations.
It makes strong business sense to appeal to the majority or masses of wrestling fans who range in age from 3 to 93, are 40% female, and very strong in the 21 to 49-year old male segment of the population. Pro wrestling need not be just for kids … or just for the hardcore extreme.
By tapping into the “main stream,” the IWA will have a unique and very strong position within the industry that will yield maximum profit potential.
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Wrestling Entertainment Business Plan – Project Topics for Student
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