During Wednesday’s investors call to discuss the robust TKO financials from the first quarter of the year, company head Mark Shapiro both acknowledged and went on the offensive around the narrative regarding creative around WWE WrestleMania 42.
Shapiro addressed that narrative and discussion during his portion of pre-recorded remarks on the call, followed by a question later in the Q&A portion where he went further into his thoughts.
In the pre-recorded portion, he said TKO has fielded investor questions “about WWE demand and the state of creative, driven by online commentary and the year-over-year WrestleMania ticket sales performance,” saying they weren’t concerned about the sales as it was “unrealistic” to expect WrestleMania 42 to surpass what 41 did.
“As it relates to the creative, there will always be periodic fan dissatisfaction around creative execution, commercial load, and celebrity usage. We listen to all the feedback. We do not turn a deaf ear, but these are not new criticisms,” he said.
During the call, he did not mention, nor was he asked, about how the ticket sales story was brought into WWE creative by Pat McAfee who was one of the celebrities grumbled about on social media.
Later on the the call when asked about creative again, Shapiro said, “We take any and all feedback, especially from our core fanbase….extremely serious, high priority. We listen, we learn. At the same time, balancing the fan experience…with the business of sports is never easy whether you’re talking ticket prices or commercial integration. It’s as old as time and crosses genres.”
At last month’s WrestleMania 42, fans watching at home were deluged with ads throughout both nights of the broadcast, amplified by frustrations with match time.
Shapiro made comparisons about rising prices at the movies, increasing ads on ESPN from one to two minutes on SportsCenter, NBA sponsorship patches, naming rights on the Dodgers Stadium field, and ad breaks for major sports events as things fans have complained about in the past and eventually, learned to live with.
“Change takes getting used to,” he said, adding that WWE is “truly new to commercial integration and sponsorship” and that “change will be more glaring for some as we inevitably commercially integrate.”
He said there will be trial and error with their approach and that they have experimented thus far, pushing boundaries with some events while pulling back from others. He reiterated that with WWE or UFC, “our product comes first” and that marketers want to reach their young, unique, hard to reach and super passionate fan base.
“Remember this: our audience is resilient. We don’t take it for granted. It doesn’t mean we can do whatever we want to do, absolutely not, quite the contrary. But, it is resilient. Currently, we are experiencing record attendance, record viewership, and record engagement,” he said.
Shapiro, someone who appears frequently at major events and is a public face for the company, earned $42.6 million in 2025, according to public records.
