WWE’s SummerSlam pulls in $7M in sponsorship revenue, up 23% from a year ago

By MICHELLE CHAPMAN
AP Business Writer

WWE’s sponsorship revenue for SummerSlam rose 23% from a year ago to $7 million, the most for any event outside of WrestleMania.

The Saturday event in Detroit also brought in huge merchandise sales, up 60% from a record set in 2021. It was the best performance in company history for any premium live event outside of WrestleMania.

Sponsorship revenue for this year’s WrestleMania doubled to more than $20 million, a record for any WWE event. Sponsors for the event, which was headlined by Roman Reigns facing Jey Uso, included Slim Jim, C4 and Rocket Mortgage.

WWE’s events continue to attract strong numbers on social media as well. Its SummerSlam content generated more than 100 million video views across all platforms, led by Samantha Irvin announcing Logan Paul’s win against Ricochet, which drew 30 million views in less than 24 hours. Views on TikTok jumped 500% from a year earlier.

Federal law enforcement agents executed a search warrant and served a federal grand jury subpoena to WWE Executive Chairman Vince McMahon in July, according to a recent regulatory filing by the company. No details about the nature of the warrant or subpoena were revealed by WWE.

The Wall Street Journal had reported last year that the WWE was investigating an alleged $3 million payment from McMahon to a departing female employee following a consensual affair. WWE’s investigation into the misconduct allegations was completed last year.

World Wrestling Entertainment Inc., which announced with Endeavor in April that it was combining with UFC, said in the filing with the Securities and Exchange Commission that while government investigations into McMahon remain ongoing, no charges have been brought in them.

WWE said that it has cooperated throughout the process.

“In 2022, WWE formed a special committee to review allegations of misconduct against me,” McMahon said in a statement at the time. “That review was concluded in November 2022 following an extensive investigation. Throughout this experience, I have always denied any intentional wrongdoing and continue to do so. I am confident that the government’s investigation will be resolved without any findings of wrongdoing.”

McMahon is taking medical leave from the sports entertainment company following recent spinal surgery.