All Elite Wrestling (AEW), the rival of WWE, is set to make history by hosting its first international pay-per-view event, All In, at London’s Wembley Stadium. With a focus on being a “challenger brand,” AEW has quickly gained popularity and expanded its TV schedule to three shows on Warner Bros. Discovery networks in the U.S. In an interview with The Hollywood Reporter, CEO and head of creative Tony Khan discussed the importance of star power, AEW’s financial outlook, the possibility of an IPO, his passion for wrestling, and his father’s changing perspective on AEW as a business.
Star power has always played a significant role in the success of pro wrestling. AEW recognizes this and has made a conscious effort to bring in established stars while also creating its own. Household names like Chris Jericho and Jon Moxley joined AEW with a massive reputation already, while others such as Bryan Danielson, CM Punk, Samoa Joe, and Claudio Castagnoli were signed more recently. Additionally, AEW has given a platform to wrestlers who were well-known overseas but hadn’t gained a fan base in the U.S. yet. Kenny Omega, The Young Bucks, Hangman Page, and many others have become international stars through their involvement with AEW. The company has also helped elevate wrestlers from the independent circuit, such as MJF, Orange Cassidy, Dr. Britt Baker DMD, Hikaru Shita, The Acclaimed, and more, who are now recognized as top worldwide wrestling stars.
Khan acknowledges that wrestling has a passionate and connected fan base that has the power to propel a star’s rise to meteoric heights. He cites AEW World Champion MJF as an example, noting how he went from being introduced to millions of people around the world during AEW’s launch in 2019 to becoming one of the top names in pro wrestling. AEW’s roster of talented wrestlers has allowed the company to deliver great matches and compelling storylines, further cementing its popularity among fans.
In terms of AEW’s programming, the company has faced the challenge of juggling multiple storylines, feuds, and upcoming events. AEW All In in London and All Out in Chicago are both highly anticipated shows, spaced just one week apart. Khan explains that the decision to stage two big pay-per-views back-to-back was driven by opportunity and business success. The availability of Wembley Stadium on a bank holiday weekend presented the perfect chance to host All In, while the subsequent Labor Day weekend in the U.S. was ideal for All Out in Chicago. Khan believes that the live-event real estate for these weekends is incredibly valuable and will contribute to strong pay-per-view sales.
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While Khan retains considerable control and has reinvested much of AEW’s revenue back into the business, he admits that the company has not yet turned a huge cash profit. However, with a valuation that has attracted billion-dollar offers and the upcoming media rights renewal, profitability and cash flow are on the horizon. As for taking AEW public, Khan states that he is not currently interested in pursuing that path.
Known for his long-term planning and development of wrestling storylines, Khan shared insights into his planning process. While he does have long-range ideas and plans, he emphasizes that everything is subject to change. The recent injuries to Bryan Danielson, Pac, and Jamie Hayter led to significant adjustments in AEW’s plans for the summer. Despite these setbacks, Khan remains confident in the depth of AEW’s roster and its ability to adapt.
In conclusion, AEW has quickly gained recognition and popularity as a formidable challenger to WWE. With a focus on star power, compelling storylines, and engaging matches, AEW has carved out a significant place for itself in the pro wrestling industry. While profitability is a goal for the future, AEW’s rapid growth and valuation indicate a promising road ahead. As AEW continues to expand its international presence and deliver captivating content to its passionate fan base, the company’s future looks bright.
