WWE is starting to replicate UFC’s business model for ticket yields, and they are seeing success from it. However, a TKO executive’s comments make it sound like WWE ticket prices won’t drop any time soon.
TKO Chief Operating Officer Mark Shapiro spoke at this year’s Goldman Sachs Communacopia & Technology Conference on Wednesday. Shapiro spoke about ticket prices for WWE and UFC, claiming WWE isn’t where UFC is on ticket yield.
Ticket yield, or yield management, is a variable pricing strategy. The practice is used to maximize the profits of companies like live event businesses and airlines. Shapiro said they “have our work to do there” on the WWE side of things.
In addition, Shapiro said that before, Vince McMahon priced tickets with families in mind. Now, TKO is focused on replicating the UFC model. Shapiro says they are seeing success with WWE, including with its OnLocation offerings.
Shapiro says Vince McMahon wasn’t focused on maxing opportunities for WWE events
“We know we have a lot of room there because Vince McMahon was primarily pricing tickets for families and wasn’t totally focused on maxing the opportunity there,” Shapiro said (h/t H/T F4WOnline.com) “Now that we’ve seen what we can do with UFC, we’re replicating that in terms of ticket yield and holding back and advance sales when it comes to OnLocation on the WWE side and it’s working out really well.”
In May, Shapiro spoke at the JP Morgan Global Technology, Media and Communications conference in Boston. There, he said that WWE had a “tremendous upside” on increasing ticket prices and cutting the number of house shows each year.
Last week, a fan ran into WWE’s Nick Khan at Halloween Horror Nights at Universal Studios Hollywood and commented on WWE’s high ticket prices. The fan, posting on TikTok under the name alexanderrose_tv, told Khan that WWE ticket prices have been “a little crazy” lately.
“So they’re too cheap, you’re saying,” Khan jokingly said in response.
“No, a little too steep, at least for me,” Rose replied.
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