Talk is Jericho Recap w/ Dave Meltzer – WWE Purchases WCW, What Led to WCW’s Demise, Failed Invasion Angle, More!
Chris Jericho welcomes Dave Meltzer to the show.
Meltzer informs that WWE’s purchase of WCW changed the wrestling business and was the most impactful thing that happened to the business during his lifetime. In his opinion it was even more impactful than when McMahon took WWE national in the 1980s. In one swift movement McMahon eliminated all competition and changed the way performers made a living, since there was really no alternative workplace to WWE at that time.
Jericho notes that WCW’s downfall occurred rather quickly. Meltzer agrees, informing that WCW went from working stadiums to going out of business in a little over three years. In 1998 they were extremely successful and making a huge profit. They had a slight loss in 1999 but by 2000 they were losing over $60 Million a year. That’s a huge drop-off in very little time.
Meltzer says it’s hard to believe how fast WCW drove their customers away. The company’s expenses stayed roughly the same but their revenues plummeted as fans stopped buying PPVs and stopped attending live events.
It’s amazing to look back now and realize that on a random Monday night in 1998 over 9 million people were watching wrestling at the same time. For some segments that total went up to 11 million. When WCW drove their fans away those fans never really came back, because WWE’s ratings didn’t skyrocket as one might think after they bought WCW.