-- Endeavor and TKO executive Mark Shapiro spoke at the Goldman Sachs Communacopia & Technology Conference earlier today and offered some interesting insights into the future of WWE's business. Specifically, he indicated that the company would be scaling back non-televised live events (house shows) over the next couple of years while believing that tickets for WWE's events remain underpriced.
"We’re cutting events at WWE. We’re taking our low-margin, marginally profitable events, untelevised events that Vince put in place to grow the brand, right? You’re taking the show on the road, we’ve gotta go to every city we can get to grow the WWE brand. Well, the WWE brand, while we still have to grow it, it’s on fire right now."
"We don’t need to carry these marginally profitable events. Andrew Schleimer, our CFO, and Nick Khan at WWE have been hands-on involved with cutting back those events, trimming those events. What was 300 last year will be roughly 250 this year. And next year, we’ll be close to 200."
