"We almost went bust" - WWE legend says Vince McMahon's decision almost bankrupted WWE (Exclusive)

Vince McMahon introduced the WWE Network back in 2014. The subscription service was originally meant to replace the Classics on Demand but ended up hosting premium live events in addition to weekly shows. The network was shut down in December 2024, just days before RAW moved to Netflix.

Speaking on a recent edition of What Were They Thinking? on Backstage Pass, JBL said Vince McMahon's decision to introduce the WWE Network brought the company to the brink of bankruptcy because the business model cannibalized the audience.

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"I've talked to Vince a lot about technology and advancements. He does not like to be ahead of the curve. He likes to be slightly behind it. So pay-per-view was the same. You know, he goes to pay-per-view next, and then we go to streaming. We were so far ahead of the curve on streaming that we almost went bust."

He continued:

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"I mean, people were telling us we need to quit this streaming (WWE Network) because you cannibalize your audience. For $9.99, now you're getting a pay-per-view and all this library. You're not having to pay $74.99 for WrestleMania, you're paying $9.99. I mean, that is a big freaking difference and you better make it up in volume. But the model wasn't there yet." [From 11:32 onwards]

The good news is that fans can access the entire library of WWE PLEs and RAW on Netflix. NXT and SmackDown both are still part of cable television. It remains to be seen if the two shows get picked up by Netflix or another streaming service in the future.

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The RAW debut on Netflix was a smashing success and the show was well-received by fans and critics alike.

Get the full episode of What Were They Thinking? with JBL and Gerald Brisco on Backstage Pass. You can also unlock our exclusive content via YouTube membership.

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