Just a week after a fan confronted WWE President Nick Khan about the rising cost of tickets, TKO Chief Operating Officer Mark Shapiro has made it clear that fans should expect to pay even more in the future. Speaking at a technology conference, Shapiro stated that WWE has “work to do” on its “ticket yield” and plans to replicate the pricing strategy that has been successful for the UFC.
Speaking at the annual Goldman Sachs Communacopia & Technology Conference on Wednesday, Shapiro was asked about the ticket prices for both of TKO’s major properties. He was direct in his assessment that WWE ticket prices have not yet reached their full potential. “WWE is not where the UFC yet is on ticket yield. We have our work to do there,” he said.
He explained the company’s new philosophy, which is a departure from the previous approach under Vince McMahon. “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. 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,” he continued.
“Ticket yield” is a term used in the travel and entertainment industries that refers to maximizing revenue by selling all available inventory at a strategic mix of prices. Shapiro has been open in the past about TKO’s view that there is “tremendous upside” in increasing WWE’s ticket prices. This strategy has already been reflected in the high cost of tickets for recent premium live events and television tapings in major markets.
Shapiro also discussed the importance of site fees for both WWE and UFC events, stating that his primary focus is on “cash.” He even issued a warning to cities that have had successful events, suggesting that they will have to “pay for us to come back or else we’ll take it to another town.” He made it clear this applies to all of WWE’s brands, including Raw, SmackDown, and NXT.