For most of the past four decades, I’ve been a professional wrestling fan. The WWE has been my preferred brand to follow but over the years I’ve watched everything from AWA, NWA, Mid-Atlantic, World Class, Mid-South, Florida and Georgia championship wrestling to WCW, ECW, Ring of Honor, New Japan and AEW. The combination of entertainment, storytelling, passion, community, and character development is what lured me in. It interested me enough to take it on the air, which led to making news, creating buzz, and opening the door to my joining ESPN Radio in 2004. I’ve since welcomed a few guests from the business at our BSM Summit’s.
As my media career advanced and I began to hire people and shape the vision for the stations I managed, I grew a greater appreciation for how these companies excel in business. Mainstream media loves to look down at pro wrestling for its pre-determined results yet have no issue buying a ticket to watch a movie. They turn a blind eye to the quality of storytelling, character development and production value, the innovation done outside the ring, and the various ways talent build lasting bonds with the audience. More importantly, they ignore the digital/social impact, TV ratings, and non-traditional revenue results. Look at the sports media world today and you’ll find many top stars have some type of pro wrestling character in them.
A company like the WWE produces a three-hour TV show on Monday, a two-hour TV show on Tuesday and Friday, monthly pay-per-views (premium live event) and non-televised shows all across the world throughout the week. They do this nearly fifty two weeks per year. The WWE has a website, social media platforms, a YouTube page, and full media library available on the Peacock app. What they don’t have is 24-hours per day of live programming on radio or TV the way many networks and stations do. If sports radio or television functioned with only seven hours of on-air programming per week, how effective would we be?
Today, I’m going to show a few examples of what wrestling brands and talent do to create impact. I’m going to focus on 3 things the WWE and another smaller group has done to create buzz and revenue. I could easily extend this to six or seven categories but I’m trying to avoid turning this into a piece that only Grantland would’ve published.
Creating Connections and Viral Moments
There isn’t a better talent on social media or at live events today than Cody Rhodes. Already a star who could easily disconnect from social and still be in the main event, he instead takes time each day to build personal connections one fan at a time. From giving away his weight belt at shows to staying thirty to forty minutes after the cameras turn off to sign autographs and take selfies, the man appreciates his audience and understands how important they are to his success.
With over one million followers, I’m sure his mentions are flooded. I’m sure many of sports media’s top stars with large followings experience the same. Yet scroll through Cody’s timeline and look at how often he replies to those who support him. How many in sports radio/TV do this? You may see talent engage in a sports debate or respond to a ‘love the show‘ post but how many create unforgettable moments with fans?
Speaking of moments, check these two out. I’m going to start with ‘the best man’ video. Most stars in this situation would’ve said ‘thanks but unfortunately I’m unavailable.’ Knowing a few national hosts as I do, some would’ve run for the hills if they saw this sign.
Instead, Rhodes created a moment which generated massive buzz. This not only made two people fans for life and the coolest couple in their town, but it also sent a message to every fan – come to a show because you never know what might happen.
Or how about this awesome moment. A young boy cuts a video for social media, asking people to make a donation to help make his dream of getting to WrestleMania come true. The video is so genuine and heartwarming that you can’t help but want to support him. Rhodes then does something amazing, which has now been seen over two million times. That leads to a follow up video which has since been viewed over one million times. All of it is the result of paying attention, and doing something nice for a fan.
Let me show you another example. This one comes from WWE star Johnny Gargano. He isn’t a main event guy like Rhodes but he’s loved by those who follow him. A simple gesture of buying an action figure, signing the box, hiding it in a store, and tweeting out the location is freaking cool. Take one look through his mentions at how people responded. This is how fans become more connected to a personality or performer. It also makes the company look good and more incentivized to support their own.
When was the last time you saw a star talent at ESPN, Fox Sports or one of the industry’s top sports radio stations offer a fan tickets on social media to the Super Bowl, World Series, NBA Finals or other bucket list sports experience? I saw Danny Parkins at 670 The Score do this a few years ago with White Sox tickets. That was awesome. I’m sure someone else has done it too that I may not be aware of. Too often though talent and programmers focus on the content and less on audience connection. You need both to win.
It doesn’t even have to be that big of a prize. An unplanned meet up with fans when you’re already going to be out somewhere works. So does giving away your personal seats to a regular season game or having a high profile guest sign something in studio and giving it away. If that’s not your style, write your opening monologue on a piece of paper, sign it and give it away. If you’re on TV, maybe it’s a signed copy of your script.
This can also be done by phone. How easy is it on-air or social media to say ‘the show is about to wrap up but I still want to talk sports with my fans….text/tweet your phone # to ___ and I’m going to call one listener right after the program.’ What’s that costing you, fifteen minutes? Do you know what type of message that sends to your listeners and followers? It also allows your digital team to create cool social content. I’ve seen Petros Papadakis and Chad Doing give out their phone numbers on social to build personal connections but few take that approach. These are just a few small ways to take the next step and create a bond with your fans.
Bundling Assets and Monetizing Beyond Traditional Advertising
AdFreeShows is a network that features shows with former stars such as Ric Flair, Kurt Angle, Eric Bischoff and others. It’s led by Conrad Thompson and Dave Greene, BM’s Chief Media Officer. If you’re going to ask for subscriptions to grow revenue, you have to offer something unique. I covered this at the 2023 BSM Summit but for those who weren’t in the room, it’s worth revisiting.
Offering content without commercials on-demand is one way to do it. Good Karma Brands has done that in a few markets. But there are other ways too that only require examining your brand, access, talent and history.
What AdFreeShows has done is create four different monthly packages (the website shows the fourth category). Each outlines what’s provided and the brand promotes signups using social media and newsletters. This is not only smart but it leads to fan marketing. People who get a phone call from one of their stars can’t wait to tell the world on social media.
Think about that for a second. People agree to pay you a monthly fee, and then go on a public platform to share how excited they are to give you money. Does it get any better than that?
If you look into your radio or TV station’s history, you should be able to identify assets that offer value. Would your audience pay for access and original material your brand provides? It’s easy to say yes when talking about national stars like Pat McAfee, Dave Portnoy, Stephen A. Smith, and Charles Barkley, but what about locally? How would you capitalize on this?
One way to do it is with unique original archived content. Take for instance WFAN in New York. If the Mike and the Mad Dog audio library was available, think some might pay to hear it? What if you could hear Boomer and Carton’s first show? Don Imus’ last show or other standout moments from the radio station’s history. Might that create interest?
Other options could include using your talent for thank you calls when people sign up, private zoom calls with talent or the PD, meet ups at station events, giving away new merch or signed memorabilia, an in-person visit to the radio station or play-by-play booth, creating a one-day crash course on becoming a broadcaster, a catered watch party at a fan’s house, recording a listener’s voicemail message or offering tickets or suite access to select games.
You can also create a podcast featuring a host vs. listeners and have fans come in to tape the episode. Some already call your station and know how your hosts think and operate. I’ve even seen First Take feature fans using submitted videos. If you want to go further outside the box, consider a revenue sharing deal between talent and brand. Cameo is a place where people pay for celebrities to record custom videos. Most in sports radio don’t make much here because they can’t promote it. What if that changed and you both shared the profits? If you think there’s no money in it, click here.
The bottom line, all of these things should be on the table. They carry value to your audience. Many will pay more than you think for access and being part of ‘the club‘. How you package it, price it, and determine what is and isn’t doable is for you to decide. If you want to increase revenue though, you’ve got to think different and explore new paths to monetization. Relying on programmatic ads and branded content won’t solve your problems in the digital space.
Developing Unique Events
If WrestleMania is the WWE’s equivalent of your station’s opening day broadcast or live from radio row week, how else are you generating dollars beyond the studio? Sitting in an empty car dealership or appearing at the cell phone store for two-hours to say hi to shoppers may still get sold in a few cities but you’re not going to change your financial fate with that strategy. Creating must-attend revenue generating events has to be part of the plan.
Last year at the BSM Summit (must-attend ticketed event) I asked a few programmers to name a major event in sports radio that delivers large crowds and dollars. Most couldn’t and pointed back to WIP’s Wing Bowl, which ended in 2018. By the way, they weren’t wrong. Signature events and promotion of them across the industry has been bad for years.
Fortunately, ESPN Los Angeles 710 created a smash hit with the Mandy Awards. The Ticket in Dallas has long held Ticket Stock, another great sports radio staple, and WFAN has built a major event with Boomer and Gio Live featuring the entire morning show cast. The station’s last show at the Paramount in Long Island sold out. Ticket prices ranged from $50 to $150 for VIP. Even more impressive, you can see branded content on display throughout the show. I’m looking forward to chatting with Spike Eskin about that at our upcoming 2024 BSM Summit.
Though there are a few examples, many sports media brands in local markets don’t go big. There is a constant worry about spending money to produce impact. As the old saying goes ‘you have to spend money to make money‘. This is something the WWE and many other groups understand, which is why they excel at it.
Before I give the next example, you’re likely saying ‘WWE has global appeal and millions of dollars‘. I understand that. I want you though to focus on the strategy. Nobody expects you to create WrestleMania, just your own local moneymaking version of a successful signature event.
WrestleMania may be the main attraction for WWE each April but there’s more involved than the two-day wrestling show. The company creates a weeklong celebration and high income generator. They do this by featuring a WWE Hall of Fame ceremony, and live NXT, RAW and Smackdown shows. That’s in addition to Axxess, a fan attended event with general admission and VIP pricing which allows fans to meet their favorite superstars, see custom ring attire and props, and step into the ring, make a stage entrance and enter the broadcast booth.
The company also runs extra events too such as The Undertaker’s 1 Deadman Show, which leads to more unique programming and additional impact. WrestleMania’s revenue isn’t just about ticket and merchandise sales, and paid advertising, it’s about the full package rolled out over a six to seven day period. That’s why cities bid to bring the event to their states.
In there is a lesson for sports media brands. Any station can put a show on location for three to four hours but how do you turn it into an all-day or all-week revenue generating spectacle? KFAN and SKOR North do a great job of capitalizing on the annual Minnesota State Fair and there’s likely a few other examples in other markets but how many think beyond one day?
Take a look at what Barstool Sports did this fall with their One Bite Pizzafest. The company went into the event expecting 5,000 people in attendance. They built up buzz for the event for weeks, sold advertising into all of it, produced the event and featured live music, talent on-site interacting with fans, merchandise, pizzamakers from everywhere on site selling food, and they picked an awesome venue, Maimonides Park in Coney Island, NY. The only thing that wasn’t a hit was the weather.
Regardless, Barstool’s fans were so invested in the brand that no amount of rain was going to stop them from showing up. They also spent more than $150 per ticket to attend the 5+ hour event. Would your audience spend $150-$250 to attend a five hour event in the rain produced by your sports radio station or TV network? If the answer is no, what would you need to do to change that?
Sports radio folks love to point to Wing Bowl as an example of a killer promotion. For good reason, it was. But few take the plunge to create those type of events in 2023-2024 the way a brand like Barstool does. Creating Wing Bowl styled events can’t be done today how they were in 2005-2015 but putting on an entertaining, can’t miss out event, still works.
So that raises one final question, why aren’t you? There’s nothing wrong with executing smaller events and promotions. You should do those too. But signature events create buzz, stronger fan loyalty, larger advertising, and most importantly, non-traditional revenue.
Whether you follow the WWE’s example, WFAN’s, ESPN Los Angeles, Barstool Sports or another group, the takeaway is this: Unique, Must-Attend Events Make Money. If you’re not doing them, I hope you do soon because you’re leaving dollars in your local marketplace.
Conclusion
I recently read a piece on Inc which summed up Steve Jobs’ strategy for Apple. Jobs used six bullet points to keep the company focused starting with two important questions; ‘Who Are We‘ and ‘What Do We Do?’
For a brand like the WWE that’s an easy answer. WWE is a sports, entertainment company which aims to put smiles on people’s faces through the introduction of different characters and storytelling. By creating strong fan loyalty and engagement, incredible results are achieved, allowing the company to open doors to numerous revenue opportunities.
I look at sports media brands in 2024 and see a lot of examples of outlets stuck in mud. They can answer the two questions but spew some of the same stuff today that’s been preached the past few decades. There’s one problem with that, media consumption, monetization, and social media reach has drastically changed. Rather than chasing meters and subjectively touting that we have ‘the best content‘ we should be focused on building strong, sustainable, multiplatform businesses.
If you created an excel sheet and itemized your brand’s revenue and audience impact in a number of categories, what would it look like? How much success comes from Radio? Your App? The Website? YouTube? Social Platforms? Events? Merchandise? Podcasts? Newsletters? What are your talent and program director’s responsibilities and incentives for making sure these different layers of your business thrive? How does your performance compare to last year, 3 years ago, 5 years ago or 10 years ago? If it’s not working, what’s the plan to improve it?
Some will say these things are already happening. For some, it might be, but often that’s echoed by folks speaking on behalf of one outlet or company. I look under every rock, and see far too many examples that show the opposite.
Groups like the WWE provide an example of what a dominant multiplatform business looks like. Maybe sports media won’t have the same global success but there isn’t much downside in learning from those who continue to innovate and elevate. The media business has changed and it requires changing our mindset. Those following outdated playbooks and relying on past experience are just setting themselves up for future disappointment.
Jason Barrett is the President and Founder of Barrett Media since the company was created in September 2015. Prior to its arrival, JB served as a sports radio programmer, launching brands such as 95.7 The Game in San Francisco, and 101 ESPN in St. Louis. He also spent time programming SportsTalk 950 in Philadelphia, 590 The Fan KFNS in St. Louis, and ESPN 1340/1390 in Poughkeepsie, NY. Jason also worked on-air and behind the scenes in local radio at 101.5 WPDH, WTBQ 1110AM, and WPYX 106.5. He also spent two years on the national stage, producing radio shows for ESPN Radio in Bristol, CT. Among them included the Dan Patrick Show, and GameNight.
You can find JB on Twitter @SportsRadioPD. He’s also reachable by email at Jason@BarrettMedia.com.
