As NXT continues to make waves in the wrestling world, some fans believe that WWE will one day look more like the Yellow Brand. However, in terms fundamental business practices, that could be a very bad thing.
Jim Cornette, one of the more polarizing personalities in professional wrestling pulled back the curtain to uncover some economic warts NXT has been hiding. On a recent episode of his podcast, The Jim Cornette Experience, the wrestling lifer explained that NXT has been hemorrhaging money for two years.
"NXT in 2016 sold $7 million in tickets and had $20 million in expenses. In 2017, NXT had let’s say $6 million in ticket sales and $25 million in expenses… In all honesty, 2016 they lost $13 million, 2017 they lost $19 million and that’s not a ton of money for that whole company and organization up there,” he said.
Cornette is right that WWE won’t sweat a few million dollars, but couldn't help but gawk at NXT’s profound ability to lose money.
"But can you imagine what me and Danny Davis could’ve done with Ohio Valley Wrestling if they said, ‘OK guys, you can bring in anybody that you want that’s not on the main roster or signed to New Japan and you can lose $32 million over the next two years,’” he said.
He’d go on to empathize with WWE by underlining that NXT’s role isn't just to sell tickets — it’s a way for WWE to groom future Superstars.
“I understand they’re making the investment in training the future superstars and they have to, they’ve figured out that they have to because they’re not getting them from anywhere else,” he said. “So they have to train their own, but my God!”
There's no use in beating an NXT doomsday drum. The developmental promotion is arguably the best "indie" wrestling on the market, and that's on top of it being a literal breeding ground for hopeful WWE Champions.
So don't worry, NXT isn't going anywhere. Worse comes to worse, WWE can send Hulk Hogan to bolster ticket sales.
[H/T Wrestling Inc.]