This week, AEW confirmed a new multi-year multimedia rights deal with Warner Bros. Discovery, the culmination of lengthy discussions between the two sides. Starting in 2025, AEW pay-per-views will be available on Max at a discounted rate per event while Dynamite and Collision will continue to air in their current time slots on TBS and TNT.
Variety initially reported that the deal is valued at upwards of $150 million per year, though this number appears to be conservative. Dave Meltzer reports that the deal is actually worth $555 million over three years, or approximately $185 million annually, not including revenue from PPV events.
AEW is estimated to earn $95 million in additional revenue from the deal, Meltzer adds, which would leave AEW within a profit window of between $61 million to $76 million in 2025. It’s added that this window could be slightly lower if attendance, merchandise sales, or pay-per-view sales decline in the coming years.
In recent years, AEW has seen a worrying record of declining attendance figures, though has a reason for sticking with large arenas. Similarly, AEW has seen a fall in its ratings, with this week’s fifth anniversary of Dynamite seeing a drop from last week’s episode (702,000 to 680,000 according to PW Torch) despite a stacked card including multiple title matches.
It’s worth considering that these are estimated figures, and since AEW is not a publicly traded company, they are under no obligation to disclose their real numbers. Nevertheless, these figures certainly paint a bright future for AEW, Tony Khan, and the company’s roster of talented individuals.