Read on Twitter
What do comedian Bill Burr and WWE Champion Drew McIntyre have in common?
They both have had to learn how to ply their trade without the benefit of a live audience
Here's Bill Burr (5:50 to 7:45) on performing without a visible audience and how it woke up muscle memory in him that had previously been lost https://open.spotify.com/episode/2RYuGMhdQCk6FFoFJzKUR1
In a recent podcast Drew McIntyre was asked what he was hoping for in 2021 and he responded "Fans"
"...I'm proud of everything we've done, given everyone an escape during the most difficult times of COVID...I can't wait to get fans back in person and get back on tour, and just to feel the fans in the building"
"I always say, and it is true, they are the number one superstar"
"It’s going to make such a difference to the product for when we get those fans back in the building for us as superstars"
Fan participation is incredibly important in this business and I haven't heard anyone say it as succinctly and confidently as this WWE performer
In virus times, live audience performers have had to develop new skills & sharpen their game. Their voices are more easily heard on camera and they've had to reach down deeper to entertain without the roar of the crowds
Combining the comments from these two seemingly disparate performers together leads me to conclude it's entirely possible that when things get back to normal that WWE’s product isn’t the same as before, it’s actually a lot *better*
For a # of reasons, WWE shares are trading at about 60% of their 5 year historical valuation average in no small part due to concerns on fan engagement levels
It's becoming more apparent to me that WWE may have a performance renaissance of sorts in 2021/2022
Better performers + return of live audience = more engagement
more engagement = sale of OTT rights + attractive renewal of US media in 2023
sale of OTT rights + attractive renewal of US media in 2023 = 
shareholder value
(eom)
shareholder value(eom)
