MR. TITO: How does AEW Stack Up Against WCW, ECW, and TNA as a Wrestling Promotion?
Right now, everyone is piling on All Elite Wrestling (AEW) and even I do from time to time… BUT, whether you like them or not, they are in their 6th year and shall continue to live for another 3-4 years, at least, thanks to their new Warner Bros. Discovery deal that nets them a reported $185 million per year.
While they are an easy target right now, let’s not forget where we were during 2019 when the WWE was actually in decline and wrestling fans were thirsty for competition NOT named “TNA/Impact Wrestling” or “Ring of Honor”. In my opinion, AEW is a significant reason why WWE started caring again, began to pay higher wrestling salaries, and began taking a few chances to improve (i.e. turning Roman Reigns heel and pairing him with Paul Heyman). They’ve had some bad momentum since the CM Punk relationship soured and are still attempting to win back some trust after what happened with Punk during 2022-2023.
BUT, regardless of what has happened for the past 3 years, they are STILL HERE and earning a buttload of cash, per year, thanks to their new television deal. They must be doing something right, correct?
With the recent passing of Sabu, it made me relive some Extreme Championship Wrestling (ECW) stuff all over again while making me think about why this promotion couldn’t survive. ECW had major managerial, financial, and television disadvantages going against it that AEW, years later, has learned from and/or benefitted by existing in a different timeframe. AEW does a better job protecting their assets and working within a corporate structure than ECW ever could being led by Paul Heyman.
In addition to ECW, there was the time when AEW was going to cross the threshold of episodes that WCW Nitro once held on Turner Sports properties. Lots of AEW vs. WCW comparisons have happened there.
Often, I’m guilty of comparing AEW to TNA from the 2000s, particularly with signing former WWE talents in attempt to compete with the WWE.
With that being said, let’s compare why AEW is going to succeed and outgrow Eric Bischoff’s version of WCW (1993-2001), Paul Heyman’s ECW, and the relevance of TNA wrestling WITHOUT the WWE helping them out right now.
Let’s review AEW first…
All Elite Wrestling (AEW)
Advantages:
– Television Deal: Sells rights to Warner Bros. Discovery for $185 million per year
– Ownership: Khan family worth billions and continues to earn revenues that can help AEW, as needed. Tax advantages here as well. Whatever you can say about Tony, his dad is a great teacher and has surrounded Tony with good corporate types and legal.
– Wrestling Popularity: Weak competition at inception, benefitted from WWE growing again
– Distribution of Content: Cable/Satellite, HBO MAX streaming, YouTube, and Social Media
– Retention of Talent: Decent, though a few key names have been lost (CM Punk, Cody Rhodes, Jade Cargill)
– Acquisition of Free Agents: Strong at first, has since tapered off. Moxley and Jericho were gigantic signings during 2019, and I’d argue Swerve Strickland has been solid as well. Mercedes Mone has been hit or miss… Beyond WWE, they do fairly well acquiring top talent such as Okada and Ospreay.
Disadvantages:
– Competition: WWE is ruthless, especially with better creative since late 2020 and with a bigger corporate reach with Endeavor/TKO. Massive television deals in comparison, though Triple H isn’t as bloodthirsty as Vince was. An improved WWE is hurting them now.
– Talent roster: Built from wrestlers from the independent scene which created a weaker base to begin with. Recent free agents haven’t drawn, while they’ve been a tad on the older side (Sting, Edge, Christian).
– Creative: Tony Khan isn’t a strong creative wrestler, though there is some appeal to wrestlers who are given some creative leeway to operate as talents with some creative freedom.
Next up…
Extreme Championship Wrestling
Advantages:
– Creative: Paul Heyman is one of the best creative minds, ever, and has the amazing ability to do “more with less”. He literally did that most of his time in ECW, as the revenues weren’t pouring in like other promotions.
– Wrestling popularity: Peak years of the Monday Night War and Attitude Era. However, I’d argue that could be a negative because both WCW and WWE were hungry for talent to raid.
– Talent roster: While I could consider this as a negative for being raided constantly, Paul was able to re-invent his roster constantly with an influx of new talent that WWE and WCW didn’t initially want but then did want once ECW got them over.
– Acquisition of Talents: Always found new talent hiding under a rock to get over, or tapped into new promotions that neither WWE or WCW was looking at. Constantly getting raided, yet able to constantly replace lost wrestlers with adequate replacements (until those got raided).
Disadvantages:
– Competition: Both WWE and WCW were always on the attack and were constantly looking for talent. Both held the top cable TV channels, too, between USA and TBS/TNT. Both held monthly Pay Per Views, too.
– Ownership: Tod Gordon and Paul Heyman just lacked the resources to finance a wrestling promotion to GROW into a powerhouse to compete with WWE and WCW. Once they tried to compete on a bigger scale, such as Pay Per View events and trying to retain their talent, it was over. ECW losing Tod Gordon during 1997 was harmful, as now Paul Heyman had to act as BOTH the money guy and creative whereas before, Tod was the money guy and Heyman did creative. Heyman isn’t good with money…
– Retention of Talent: Poor… Unable to pay wrestlers and in fact, bounced paychecks began could cause talents to leave at a faster pace.
– Television Deal: TNN lowballed them for the Friday TV slot during 1999-2000, as did Pay Per View companies along with being very late on payments. Prior to that, ECW paid for informercial time which cost them and not the network.
– Distribution of Content: Late 1990s, so streaming video was out of the question. DVDs were in infancy, so VHS tape trading and distribution was relied on. Furthermore, late night infomercials in limited markets. No social media, as it wasn’t invented, and had a weak internet infrastructure.
OUCH…
What about WCW?
World Championship Wrestling (WCW)
Advantages:
– Creative: Created the New World Order and with that, became the #1 company. We can get into arguments about the effectiveness of 1999 and 2000 all day, but the NWO storyline, Cruiserweight Division, Crow Sting, the rise of Lex Luger, introduction of Bill Goldberg, Diamond Dallas Page becoming an asset, and WCW Nitro just being a complete blast from 1996-1997 made this company into a powerhouse. The NWO storyline changed everything.
– Distribution of Content: I’d say strong, because they had 2 channels to utilize within the Turner/Time Warner family. That’s a big advantage. Plus, WCW experimented with stuff, like WCW Live as a podcast after WCW broadcasts.
– Retention of Talent: Strong through 1998, but began losing depth of their midcard to upper midcard of wrestlers frustrated with WCW having to push overpaid veterans. That said, none of those overpaid veterans jumped and they could have made a big difference in WWE if they jumped.
– Acquisition of Talent: Good lord, Eric knew how to raid rosters! Hall and Nash were the biggest signings, but I’d argue Macho Man was an important one before that (Hulk Hogan left the WWE on his own for almost a year before joining WCW). Bischoff raiding Mexico, Japan, and ECW was massive and built an amazing roster during 1996-1997. And he and other WCW officials kept signing talent, like stealing away Mike Awesome from ECW during 2000.
– Wrestling Popularity: Hear me out on this one… The weaker popularity of the mid-1990s helped WCW, as they could catch up to a declining WWE and sign away key talent. Then, WCW made wrestling popular again and when WWE began improving too, WCW grew in leaps and bounds too through 1998. WWE growing off the charts during 1999-2000 may have kept WCW alive and given hope to Turner/Time Warner executives that they could still turn things around.
Disadvantages:
– Ownership: Ted Turner was all-in, but the other Turner executives were not because it was expensive to operate a national wrestling promotion. Then, more executives arrived via Time Warner and then more jumped aboard with AOL. Ted’s voice was drown out and when WCW began declining by late 1998, the anti-WCW executives began looking to dismantle WCW as its costs were rising versus its declining revenues. Became more dysfunctional over time, and it was literally WCW that killed itself by cancelling WCW programming and selling WCW for a bargain price to WWE.
– Television Deal: Non-existent. WCW was owned by its own television company, therefore, it couldn’t negotiate a new TV deal every 3-5 years like WWE and AEW can. This, in my opinion, was WCW’s biggest disadvantage besides a highly corporate ownership group. It’s WWE’s biggest advantage, particularly after their 2000 Viacom deal broke all kinds of barriers and WWE has massively exceeded each deal when the current one expires. Now, AEW is doing the same.
– Competition: WCW woke a sleeping Vince McMahon giant after 1996 and that gave a basis of comparison for Turner/Time Warner executives to measure WCW against through 1998. While WCW did great business in 1998, they began losing the ratings war and that was held against them. 3 years later, Vince bought them.
What about TNA Wrestling?
Advantages:
– Competition: WWE peaked through Wrestlemania 17 and began sliding for much of the 2000s from that point. Both WCW and ECW died through 2001, too. Thus, TNA could step right in and become the #2 promotion instantly and pretty much held that position through 2018 before AEW arrived.
– Acquisition of Talent: Signed Christian, Sting, Hall, Nash, Hogan, and other veterans while also signing up key indy talents like Samoa Joe. They took full advantage of WWE being swollen with talent thanks to the WCW acquisition, along with WWE’s creative falling apart.
– Retention of Talent: TNA mostly kept their roster in tact and seemed to pay wrestlers timely.
– Ownership: The Carter family was competent in ownership and kept the promotion afloat as long as they had the Spike TV deal in place. Good tax write-off… But Dixie’s parents more than kept TNA afloat, even as daughter dearest did nothing creatively to make the promotion profitable. Great tax write-off for Panda Energy.
– Wrestling Popularity: WWE declined and ECW/WCW both died, so TNA was able to take advantage of both situations to get hot quickly. I’d argue that them peaking through the mid-to-late 2000s helped push growing times for the entire business, too.
– Distribution of Content: Always felt TNA did a good job with YouTube stuff, but I really liked their cheaper Pay Per View model that they tried when they first began. It just worked and the early shows were exciting to generate a buzz. Benefitted from growing internet usage and introduction of social media.
Disadvantages:
– Television Deal: After Spike TV, it was all downhill after that and proved that TNA became too dependent on their television rather than any other forms of revenue. Their grown struggles since the early 2000s has been primarily due to a lack of a strong TV deal since Spike dropped them.
– Creative: Honestly, a good portion of the 2000s TNA has strong points. But Dixie Carter’s increasing involvement harmed it negatively and then bringing in Bischoff/Hogan was a massive mistake. Bad creative combined with the TV deal coming up was awful timing for TNA.
– Ownership, talent acquisition/retention, and competition, I’d argue, are disadvantages in the present time. Hence the reliance on WWE as a partner.
LOOK at AEW’s advantages, specifically… Good ownership, television rights, distribution of content, and the ability to sign and retain their talent. The disadvantages that they have, particularly with Creative and Talent, can be improved with the right culture and management changes. Much easier to do that than to acquire a new rich television deal, which WCW, ECW, and TNA failed to do.
THAT is why AEW is going to easily outlast WCW and ECW, while being much more relevant, long-term, than TNA.
HOWEVER, if something were to change and AEW doesn’t receive a larger TV deal after their latest Warner Bros. Discovery(WBD) deal expires, then things could fall apart… BUT, the Khans are worth billions and are living in an era where content is king and distributed through multiple means. The Khans have a greater control of their destiny than Bischoff did during the 1990s, while Heyman had very limited resources. TNA has impressively limped along for 20+ years, but they’ve been a distant second or third ranked promotion. Now, they’ve submitted to the WWE for help. Excuse me, submitted to NXT for help.
If you dislike AEW, you better get used to them… They have MASSIVE content distribution, media rights, and ownership advantages that plagued ECW and WCW’s survival while stunting TNA’s growth.
Hey, how does WWE measure up as a competitor to AEW?
World Wrestling Entertainment (WWE)
Advantages:
– Ownership: TKO Corporation owns them, billions of dollars backing them.
– Management: Triple H and Nick Khan are amazing, and TKO/Endeavor’s management are extremely competent.
– Television Deals: Netflix and USA Network for billions.
– Distribution of Content: WWE crushes it on social media, big on YouTube, and getting on Netflix has really pumped their international distribution.
– Creative: Improved with Triple H, though Vince has always had his moments. WWE knows how to build massive drawing stars that are injected into pop culture.
– Acquisition of Talent: Has their own developmental system that recruits athletes to become wrestlers. And they have the resources to sign big free agents.
– Retention of Talent: Has resources to retain any of their talent, if they so choose.
– Wrestling Popularity: When WWE is popular, the higher tides floats all boats.
Disadvantages:
None, though I’d argue that they are incredibly beholden to corporate interests and very sensitive to controversy.
Pretty obvious that AEW has their work cut out for them to ever become #1.
BUT, aside from WCW’s peak years of 1996-1997, AEW can eventually brag that they have been the 2nd best wrestling promotion of the last 30 years with time.