WWE: World Wrestling Entertainment ? History of the WWE The WWE (World Wrestling Entertainment) is owned and operated now by Vincent Kennedy McMahon and is regarded as the largest professional wrestling promotion in the world with revenues upward of $138 million. The company has over 560 employees and corporate offices in Los Angeles, New York, Tokyo, Sidney, London, and Toronto with its global headquarters stationed in Stamford, Connecticut. This world-wide phenomenon, consisting of wrestling, acting, and theatre was actually founded by a boxer.
The history of the WWE shows that it was founded by boxing promoter Roderick James McMahon and wrestler Joseph Raymond Mondt back in 1952. In 1980, Vincent K. McMahon purchased Capitol Wrestling Corporation from his father Vincent J. McMahon and went against his father’s wishes after realizing that professional wrestling was more about entertainment rather than just a sport. This change over time has resulted in huge monetary gain for the WWE as well as its name change from WWF to WWE and its over abundance of talent that stretches over two brands: Raw and SmackDown.
Marketing Strategies With the WWE now under his control, Vincent K. McMahon sought out to expand the company from being local to national and eventually nationwide. Making these transitions will take time, management, and money in order to become completely successful. Since it is now 1980, there isn’t a technology takeover as we now know. Almost all promotion of shows and/or sports came about through word of mouth but McMahon took it upon himself to bring the wrestling promotion to the homes of fans.
Let’s face facts, not everyone has the means or the money to attend a wrestling event, which was at the time, the only way of promoting wrestling. McMahon ventured out to change this system of only hosting live events to reaching people all across the nation by syndicating WWF television shows. McMahon didn’t just have the money fall out of the sky to make this dream happen so he began taping live events and sold them outside the Northeast region, which is where most wrestling promotions were held, in an effort to generate money for dvertising, television deals and tape sales. McMahon really wanted to display the entertaining side of the business by proving that wrestling can be a huge success if the primary focus was taken off the sport of wrestling and on to the entertaining side of wrestling and he was going to prove his point by hosting on closed-circuit television, Wrestlemania: The showcase of the Immortals! Target Audience If there is one thing that all humans have in common, it has to be the satisfaction of being entertained and the more something entertains us the more we want it.
This was a philosophy that Vincent K. McMahon lived on and it was definitely one that has made the WWE so successful today. His initial audience was all those who loved wrestling and wanted to be entertained at the same time so he decided to introduce Wrestlemania, which was a event hosted at Madison Square Garden in New York City, NY. The idea was to not only have this event to all the fans in New York but to have this live event shown on pay-per-view and accessible to millions of fans nationwide. This event had celebrities in attendance which included Billy Martin, Mr.
T, Muhammad Ali, and Cyndi Lauper, with Gene Okerlund singing the Star-Spangled Banner. At the time, this taped event was viewed by over one million fans making it the largest watched event. This idea by McMahon to spread his business from a local standpoint to nationwide was by far one of the most successful stories in the world of business. Throughout the years, McMahon has continued to have celebrities appear in the Wrestlemania event and now there is a celebrity guest host on the WWE’s Monday Night Raw telecast. Summary
In conclusion, in order to run a successful business or organization advertisement is the key; you have to be able to put your business in front of your customer’s eyes and ears. Mr. McMahon did just that and much more and over time the WWE absolutely dominates the wrestling/sports entertainment world. The WWE had only one major threat to their company being Ted Turner’s WCW (World Championship Wrestling) and this lead to the Monday Night Wars, considering that both shows were airing on Monday nights; WCW on TNT and WWE on USA.
In an effort to keep the fans the WWE already had and to gain more, Mr. McMahon decided to make his programming more edgy by introducing the Attitude Era (1998-2001). He made his show more exciting by targeting teenagers and young males by having the wrestling superstars become more violent in the ring, wrestlers would bleed, and use offensive language. The over-the-edge programming from the WWE proved successful against WCW’s family friendly wrestling and eventually WCW was bought out by Shane McMahon, Vince McMahon’s son, in March 2001.
After the demise of WCW, the WWE’s growing population started to win the hearts of children who would ask their parents to attend live events, order pay-per-views, and watch the weekly television programming. After the parents viewed the programming as highly offensive, they sought out to send emails, letters, and phone corporate headquarters complaining about the offensive material and challenged the WWE to change its content. In business, you’re not going to be able to appease everyone but successful business practices shows that any business that makes an attempt to satisfy their customers will come out on the winning end.
So now, WWE programming is rated TV-PG and has toned down their content from the Attitude Era and their audience is not being targeted, it’s fun for the whole family to enjoy whether you are attending a live event or watching Monday night RAW or Friday Night SmackDown. Mr. McMahon has proven that proper advertisement via TV, DVDs, music CDs, pay-per-views, websites, and social networks is a great way to get your business in front of your target audience but more importantly in the public’s eye. ? Reference World Wrestling Entertainment (2010). Retrieved from http://en. wikipedia. org/wiki/WWE#The_Attitude_Era.