Courtesy of Wrestlenomics Radio on Twitter, we now have a quote from a JP Morgan analyst regarding WWE hiring Paul Heyman and Eric Bischoff to the brand new Executive Director positions in WWE.
While the quote does offer Superstar injuries as a partial reason for the declining ratings, the quote does also cover the “subset of fans” who feel there has been a decline in creative:
“The hires come at a time when investors are increasingly concerned over declines in ratings at both Raw and SmackDown (down mid-to-high teens in Q2 on a P2+ basis) in addition to decreases in live events attendance.
This fall will also see upstart wrestling promotion AEW launch a new show on TNT. We view today’s announcement positively, as it highlights WWE taking an assertive approach to stem a decline in engagement across its core programming, a trend we’d partly attribute to superstar absences and injuries, but also to a creative product that at times as not been well received by a subset of fans.
While we don’t expect to see an instant turnaround in ratings, the executive hires do give us increased confidence in the long-term direction of the company’s content. Separate executive directors should also help in positioning SmackDown for its debut on the Fox broadcast network in October.”
