The era of booming professional wrestling viewership appears to be over, as both WWE and AEW are facing historic declines in their television ratings. According to veteran wrestling analyst Dave Meltzer, the so-called wrestling boom has definitively peaked and is now experiencing a significant downturn across all major shows and nights.
Historic Ratings Decline Across All Major Wrestling Shows
On a recent episode of Wrestling Observer Radio, Dave Meltzer and co-host Garrett Gonzales analyzed the current ratings landscape for WWE and AEW. Their discussion revealed an alarming trend: every flagship wrestling show is suffering unprecedented drops in viewership.
Meltzer highlighted that WWE’s RAW recorded its second-lowest ratings ever, while SmackDown set a new low in its history. WWE’s developmental brand, NXT, is also down despite a relatively competition-free night. AEW’s Collision and Dynamite shows have not escaped the trend; Collision tied its lowest-ever rating in the key 18–49 demographic, and Dynamite’s numbers were weak even without major sports competition.
“The change over a two-month period is unfathomable. It’s ridiculous. People have been asking, ‘Is the boom over?’ and the answer is clear — the peak is over without a doubt,” Meltzer stated bluntly[1][5].
Impact of External Competition and Nielsen Rating Changes
While the drop in viewership is stark, some factors have compounded the decline. One major influence has been the sports calendar, notably the MLB World Series. Key wrestling broadcasts directly competed with high-stakes baseball games, which drew tens of millions of viewers.
For example, WWE SmackDown’s October 31 episode averaged just 933,000 viewers with a 0.20 rating in the 18–49 demographic, marking the lowest figures in SmackDown history. The show aired opposite Game 6 of the World Series, which attracted over 17 million viewers and a 3.52 rating on Fox—a major diversion for potential wrestling viewers[3][4].
Similarly, AEW’s Collision “Fright Night” episode on November 1 drew only 217,000 viewers with a 0.03 rating in the key demo—Collision’s lowest since September. This episode also went head-to-head with Game 7 of the World Series, which drew 24.8 million viewers and a 5.85 rating in the 18–49 demo, making competition for eyeballs especially fierce[4][6][7].
Beyond sports competition, another layer complicating this ratings slide is the recent shift in Nielsen’s television ratings methodology. Nielsen switched from a “panel-only” system to a “Big Data+Panel” approach, which many industry insiders believe results in a substantial reduction in ratings reported for wrestling shows.
Insiders report that AEW and WWE are monitoring these changes closely. Tony Khan, AEW’s president, is reportedly well aware of the new system’s effects and how it impacts streaming platforms like Max, which do not currently have their viewership fully incorporated into televised ratings numbers[2].
WWE and AEW React to a Challenging Landscape
Sources close to WWE acknowledge that the company is concerned about these sustained declines but underscores that the company is evaluating broader strategic shifts to adapt. A WWE insider told Ringside News: “There’s recognition backstage that the old boom times are behind us, but the focus now is on innovative storytelling and new media integration to regain momentum.”
On the AEW side, sources close to Cody Rhodes confirm the company is also facing tough conversations about viewership strategy. “AEW is taking the ratings seriously but is focused on cultivating a loyal fanbase through the airwaves and digital platforms alike,” one insider said. This approach appears aimed at offsetting traditional TV losses by capitalizing on streaming and social media engagement[1][2].
What Does This Mean for the Future of Pro Wrestling?
The sharp rating declines signal that the wrestling boom of the early 2020s, driven by heightened fan interest and competition between WWE and AEW, has passed its climax. Wrestling fan engagement is still strong but is increasingly fragmented across platforms and competing entertainment options.
Meltzer’s analysis suggests the industry now faces the challenge of redefining growth. “This could be a reset more than a collapse,” he said, noting that wrestling has endured similar cycles before but needs to innovate to attract younger and broader audiences again[1].
For wrestling companies, this may mean:
- Investing in digital content and streaming to capture non-traditional viewership.
- Creating fresh storylines and characters optimized for a market beyond just live TV.
- Managing scheduling to avoid direct clashes with major sports events.
- Expanding presence on social media to turn casual viewers into engaged fans.
Final Thoughts
The end of the wrestling boom era is a wake-up call for WWE, AEW, and the entire industry. The recent collapse in ratings is an objective sign that the peak popularity seen in recent years has faded. Still, industry leaders appear poised to respond with new strategies to navigate an evolving entertainment landscape.
As one WWE source told us: “We’ve seen lows before, and wrestling is built on comebacks. The key will be adapting creatively and technologically to where the audience is going, not where it used to be.”
The wrestling world’s next chapter may hinge on how well the promotions embrace these challenges amid rising competition and changing viewer habits.