The passing of Ted Turner isn't only a loss for the world of cable news and philanthropy; it is a moment of reflection for the professional wrestling industry. While many will remember him as being outspoken or the man who revolutionized news with CNN, the wrestling world also knows him as the visionary who provided the platform and the capital to challenge an industry leader.
Long before the Monday Night War, Turner Broadcasting System (TBS) provided a platform for Jim Crockett Promotions (JCP), which helped keep wrestling a staple of American television. In 1988, TBS acquired JCP for $9 million and rebranded it to WCW. This deal was one of the most monumental acquisitions of a sports entertainment company during that century. Not only did Ted Turner buy an organization, but he also preserved a legacy.
Ted Turner’s strategy was a masterclass in the loss leader business model. While wrestling didn't always attract the top advertisers of the era, he knew that its massive, loyal viewership was the engine that powered TBS. By transforming his station into a superstation, distributing it by satellite in 1976, Turner made wrestling, which was low-cost, high-rating content, the anchor of the TBS lineup and available nationwide. Cable operators across the country carried TBS because wrestling provided reliable, consistent viewership, forcing them to include it in their lineups. This kept eyeballs on the screen for his other ventures, such as the Atlanta Braves baseball team. This is the same blueprint we see today with media giants like Amazon and Netflix, who invest billions in live sports and entertainment not just for immediate profit, but to build an ecosystem that viewers never want to leave.
Ted Turner was the only person with the boldness and resources to go head-to-head with WWE. His goal was for WCW to be competitive with WWE, which would be no small feat- WWE was the #1 company, with a loyal fanbase behind it. Founded in 1952, it took WWE over 30 years to become a major success (and without true competition). And yet, Turner wanted Eric Bischoff (as Executive Vice President) to come up with a way for WCW to pose as a serious competitor to the giant of the pro-wrestling industry. Bischoff suggested to him that WCW needed a prime time show in order to be competitive with Vince McMahon and WWE. Turner gave WCW a live time slot on TNT opposing WWE Raw during that same meeting, and this led to the launch of Monday Nitro, which later led to the formation of the New World Order (nWo) faction, an 83-week winning streak against WWE Raw in the ratings war, and triggered WWE's Attitude Era.
Ted Turner's competitive spirit and going against WWE head-on caused WWE to adopt a more spontaneous and unpredictable product in order to respond. The transition to weekly live TV and improved production values are direct descendants of the Turner era.
Ted Turner understood the value of the pro-wrestling audience when others, including at TBS, looked down on it. He gave the business respect, prime-time slots, public support, and a level of financial investment that was unprecedented. Turner was ahead of the curve in the advertising industry, seeing wrestling fans as a loyal consumer demographic. It was easy for him to do this, being that he himself was passionate about the pro-wrestling product.
Today, as we look at the diverse landscape of wrestling on cable and streaming, we are seeing the seeds Ted Turner planted decades ago. He changed the industry for the better during a time when no one felt that change was needed.
Rest in peace, Ted Turner. You took pro-wrestling to another level, and your impact is still being seen today.
No comments:
Post a Comment