Is WWE further planning to cut down on live shows?

TKO President defends TKO’s decision to reduce yearly WWE live events 

In his annual appearance at the JP Morgan Global Technology, Media, and Communications conference in Boston on May 13, 2025, TKO President & COO Mark Shapiro discussed the business of both WWE and UFC, highlighting the potential he sees in both brands.

During his appearance, Shapiro justified TKO’s decision to reduce WWE‘s annual live events to approximately 200, explaining that it represented a 75% cut from the 300 events the promotion previously held. He also explained that the decisions were not made just to improve margins, pointing out that the Stamford-based promotion already has a strong following.

“We cut those house shows down to where now we’re doing 200 events a year. We cut them 75%, the number of house shows that we do. We feel that’s a good place to be and we’ll continue to prune as we go through. WWE has tremendous upside on global partnerships. Tremendous upside on ticket pricing. Tremendous upside on site fees, dynamic pricing, yield management.

All areas we’re really focusing and pushing in on as it related to live events. As you saw on our first quarter, our margins significantly expanded as it relates to WWE live events,”

Shapiro also added that  200 events is a good place to be, however, he also hinted at cutting down on live shows even more in the future. He also revealed that they are in talks with NBC Universal/Peacock, stating that NBC is interested in renewing their deals for PLEs, which is set to expire at the end of March 2026.

Mark Shapiro reveals multiple partners might be at play for WWE PLE rights

Further commenting on their negotiations, Shapiro emphasized that they aren’t afraid to work with multiple partners, as it’s smart not to put all the marketing eggs in one basket, while also maximizing financial opportunities. He added that splitting content across multiple platforms can be frustrating as a viewer, but acknowledged that’s the world we live in now.

Shapiro emphasised that there is no rush to finalize the deal, an approach they are taking with UFC rights. He also noted the uniqueness of WWE Premium Live Events (PLEs), commenting that it is “very high quality and low volume.” However, he did not mention anything about the library and its perceived value in negotiations.

TKO President also addressed the buzz surrounding the new Netflix docuseries WWE: UNREAL during his appearance. While acknowledging his concerns about revealing everything, Shapiro emphasized the appeal of transparency for fans.

“I always tell Nick Khan, careful—let’s not give away the Coca-Cola recipe here,” Shapiro said. “But having said that, I think just a little sneak behind into the writers’ room, as evidenced by SNL, is something all fans and viewers want to see.”

The 10-episode series is scheduled to debut in the summer of 2025. It has stirred controversy among fans and industry insiders due to its unprecedented behind-the-scenes access, especially regarding WWE’s typically secretive creative process.

The upcoming show on Netflix is produced by Omaha Productions (Peyton Manning’s company), NFL Films, Skydance Sports, and WWE, with Manning serving as one of the executive producers. The show is set to “peel back the curtain to reveal the passion, power struggles, and creative battles that fuel the action fans see in the ring.”

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