Was WCW ever in the black 97-2001?

[Xero]

I'm just wondering if WCW was ever making a profit, or if they were just hemorrhaging money? I've always assumed it was the latter.

[Jakob Synn]

This is something that would take a lot of research to find out because if you think about it, when WCW was at their peak and beating the WWE every night, they still had a lot of high paid wrestlers on their roster, so you'd think it would be hard to make a shit load.

Me, I would think that during those times, they probably made a profit but not a huge one.

[Xero]

Yeah. I know Bischoff was basically throwing as much money as he could to anyone to keep them away from WWE. I'm not sure if they ever made a profit during that time, though, even though the industry was white hot.

[Emperor Smeat]

I doubt it would have really mattered since Ted Turner basically gave WCW a "blank check" for years until the AOL merger. I assume whatever they paid Hogan, they made it back easily from his merchandise sales.

By the time of the merger though, that is when WCW was in the $50 million and higher in yearly losses which made AOL not want WCW anymore and Turner to stop funding them.

[MoFo]

The company stock was quite high, but with decisions like Hogan getting a chunk of PPV revenue if it hit a certain number of buys, I cant imagine they ever made a profit.

[Hanso Amore]

I read a book that says both 96 and 97 in the black by ALOT. but beyond that I think it was all loss.

[Hanso Amore]

It was the Death of WCW


thats the book I reference. Good Read.

[Funky Fly]

I remember reading that the WWE wouldn't take Kanyon around 1999 because they wouldn't match the $450K he was making in WCW.

[Jakob Synn]

It was the Death of WCW


thats the book I reference. Good Read.

I want that book so bad. I think I might go see if I can get it tomorrow.

[Hanso Amore]

I want that book so bad. I think I might go see if I can get it tomorrow.

Im reading it for a second time. Its actually quite good.

[Savio]

I remember reading that the WWE wouldn't take Kanyon around 1999 because they wouldn't match the $450K he was making in WCW.
Kanyon made 450k? wow

[MoFo]

Who was that guy who signed a contract with WCW worth $500k per yr, didnt make his debut and got left off TV for the duration of his contract? I remember Meltzer mentioning it in an interview on WCW dying.

[MoFo]

nvm - its Lanny Poffo, Randy Savages bro.

Poffo signed a WCW contract in 1995, but he was rarely used. In his autobiography, Chris Jericho commented that he only saw Lanny Poffo work once and probably received the same paycheck as Chris who worked 22 dates a month. He sat at home and collected a paycheck for four years.

[whiteyford]

I read a book that says both 96 and 97 in the black by ALOT. but beyond that I think it was all loss.

Bischoff always brings up how they were making a ton of money back then, but with the contracts they were handing out i cant see how. Sure he even said they were breaking even at the end, but i think hes just spent too much time with Hogan.

[Nightwing]

Why on earth would anyone give Lanny 500k a year. Wow.

[Kris P Lettus]

That book is good.. I should reread it..

[KayfabeMan]

Business.

Just because you're in charge of one, doesn't mean you know how to run one.

[Jakob Synn]

Im reading it for a second time. Its actually quite good.

I was at my local bookstore and started looking through the book since I didn't have enough to buy it at the time. I read just a bit that I just randomly flipped to and what I flipped to was the finger poke of doom Nitro. It's a great book. I'm totally getting someone to get it for me for Christmas and if I don't get it for Christmas I'm going to buy it right away right after another wrestling book that I picked up that was great.

I don't remember the author or the title but it was about top 10 lists for the wrestling and it looked fucking great. Check it out.

[Autobahn]

i'm curious to know how much Hogan would have been making if Poffo was on 500K.

[whiteyford]

His last WWE contract had a clause where he had to be the highest paid worker on the show supposedly, id imagine he'd have had that in WCW too.

[Xero]

i'm curious to know how much Hogan would have been making if Poffo was on 500K.

I think it was $500k a week plus like 25% of the gross of PPVs. Bischoff gave him a ridiculous contract.

Edit: Apparently it was a guaranteed $4 to $12 million PLUS $250k per appearence. And a percentage of the gross of the PPVs.

[whiteyford]

Say what you like about hogan, he knew how to get paid at least.

[KayfabeMan]

I appreciate the fact of him getting his money, he deserved it.

Just too bad he never figured out a way to hide it from Linda. :lol:

[Fox]

In 1996, WCW's nWo storyline had launched them into new heights. Compared to 1995, attendance was up 43%, gates were up 87%, and buy rates for PPV's were up 86%. The first two Nitro's of the new year set consecutive attendance records.

In 1997, attendance was up 49% from 1996. Gates revenues were up almost 150%, and PPV buys were up 173%. Needless to say, 1997 was even better than 1996.

In 1998, WCW continued to make money. Attendance was up 47% over 1997, ratings were up 56%, buy rates up were up 18% and average house show gross was up 90%.

It was in 1999 that WCW went and lost $15 million - a record in the wrestling industry, in just one year. Ratings plummeted as the WWF took absolute control in the Monday night wars, and WCW executives spent millions on solutions like KISS performances and celebrity appearances that simply didn't work.

In 2000, WCW lost $62 million dollars on more of the same idiotic decisions, new hirings, set changes, total revamps and expensive stunts. Ratings, attendance, and PPV buyrates continued to plummet. It's no wonder that Time Warner wanted to get rid of them as soon as possible.