Back in September it was announced that the FOX would not be renewing the rights to SmackDown, and instead the blue-brand would be returning to NBCUniversal and airing on the USA Network starting in 2024. Now, FOX CEO Lachlan Murdoch explains why he decided to move on from WWE.
Murdoch stated during FOX’s Q1 Earnings call that WWE was not hitting the advertising numbers that they were hoping for, adding that FOX didn’t “attribute enough significant retransmission revenue for WWE.”
We were not hitting the advertising numbers due to the audience of the WWE for our return on investment to be above the levels that we would accept. But also, we didn’t attribute enough significant retransmission revenue to the WWE either.
Murdoch later reiterates that the ROI didn’t meet FOX’s “disciplined parameters” and that it was best for all parties to move on.
So, it made sense for us to move on. They’ve been a great partner for many years but just quite simply, we’re very disciplined and the ROI didn’t meet our pretty disciplined parameters. So, we wish them luck and we’ve moved on from them.
SmackDown will continue to be broadcast on FOX until 2024.
