04 Mar Wrestling Entertainment Business Plan
The current era of professional wrestling is hotter than ever. Professional wrestling has been the focus of 7 of the Top 10 Cable TV Shows each week over the past year. 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 published the results of a February national survey, in which it identified the #8220 top-rated sports in America.
- National Football League
- Professional Wrestling
- Major League Baseball
- National Basketball Association.
Professional wrestling is a family-friendly entertainment that appeals to all age groups. Every week, professional wrestling is watched by 35 million viewers on TV. Millions more crowd to the arenas to watch it in person.
The World Wrestling Federation, led by Vince McMahan Jr., and Ted Turner-owned World Championship Wrestling (“WCW”) are the two most prominent pro wrestling organizations in the business.
TV Guide predicted that the WWF would make $550million this year, while WCW would make $350million. Vince McMahan made the WWF public in the first quarter and raised another $250 million. McMahan's wealth is so great that he announced recently that he was creating his own professional football league, The Extreme Football League, to challenge the National Football League.
There is a wide gap between the top two pro-wrestling organizations and all others at this moment. Extreme Championship Wrestling (ECW) is the closest thing to third. It's a small group from New York/Philadelphia. ECW fails to have mass appeal and profit potential because of its extremely violent and “hardcore” nature. ECW’'s weekly Friday television program (TNN) ratings have hovered around the 1.0 mark, whereas TNN promised their advertisers a rating of 2.5. IWA Championship Wrestling's (IWA) goal and mission is to create a family-oriented television program and live events that maximize its appeal for viewers, advertisers, and those who are attending “:live events and paying pay-per view.
The IWA's goal is to be the #3 pro-wrestling organization in three years. It also aims to make a minimum 10% of current monies (roughly $35 million per annum) and generate a minimum of 10%. With projected costs of about one quarter of that amount, it creates a sustainable, profitable environment for all parties.
IWA Championship Wrestling has set the following objectives to be achieved during over first three years of expansion and growth:
- Make your organization the third most recognizable in professional wrestling.
- For a weekly, one-hour program, secure a contract with a national cable TV company.
- Start production of the weekly, 1-hour pro wrestling program.
- Retain the best available talent and create new talent, writers, managers.
- You can syndicate and distribute TV programming all over the world.
- Promote live event tours in areas where television programming is seen.
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.
- Advertising revenues and sponsorships
- Merchandising souvenirs, concession items, as well as a selection of videos, via live events, mail-order, and the official IWA site.
- IWA Professional Wrestling School is created
- Fees for personal appearances on engagements booked by IWA talent
The IWA will be the recognized #3 professional wrestling association and a major player in the sector within 3 years. Our programming will continue to receive TV ratings in between 2.0 and 2.5. We will use established stars to entice viewers to tune in and will also have outstanding new talent.
The IWA is poised to compete for the second most coveted position in the industry, currently held by WCW, within five years and generate about $35 million annually in revenues.
The IWA will focus its appeal on filling the huge void in professional wrestling. It will provide ‘#8220family-oriented” and ‘#8220family 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.
At the moment, there is no such pro-wrestling programming. Fans have only the WWF and WCW programming available and they are carbon copies of each other in format and design. It is part of the weekly television programming that emphasizes extreme violence, vulgarity as well as disrespect for women and authority.
Extreme Championship Wrestling is currently the only alternative for WCW and WWF programming. This program can be found on the Nashville Network, (TNN), and appeals to extreme fans only.
IWA fans will be encouraged encourage their children and grandchildren to follow our programming. The IWA will return ‘#8220;rasslinâ€™ to professional wrestling and place more emphasis on talent, skill and ability than the twisted, demented stories currently in fashion with other organizations.
It is a good business decision to appeal to the majority of wrestling fans, who range from 3 to 93 years old, are 40% male, and are strong in the 21-49-year-old male section of the population. Pro wrestling does not have to be for children #8230 or for those who are more extreme. The IWA will be able to tap into the ‘#8220' main stream and will generate maximum profits.