NEW YORK (TheStreet) -- Woah! World Wrestling Entertainment (WWE - Get Report) legend Undertaker and Wrestlemania go hand and hand like peanut butter and jelly. In case you missed it, this mystical man of the ropes was 21-0 heading into Wrestlemania 30, a streak that won't be repeated anytime soon by anyone in the business. Watching each year to see if the Undertaker would keep the streak alive was why you plunked down $60 to Pay-Per-View.
Now, WWE has decided to close the book on the childhood of all male millenials by giving the Undertaker his FIRST LOSS EVER in Wrestlemania, an event that shook the wrestling business to its knees and caused social media riots.
Here are a couple decoded financial reasons for why WWE decided to go this route:
- WWE Network subscriptions could be running below internal forecasts, which were bullish as gleaned from many executive interviews. By creating this one epic development that has everyone talking, it could provide a one time jolt to the subscription numbers.
- WWE wanted to create a new storyline, with Undertaker killer and MMA star Brock Lesnar at the core, that will lure in networks as the company seeks to secure a new TV deal.
Either way, this fan of the deadman, as he is known, is shocked and saddened. R-I-P.-- By Brian Sozzi CEO of Belus Capital Advisors, analyst to TheStreet. This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.