For the last few years, the wrestling industry has been thriving with record crowds, billion-dollar media deals, and weekly shows pulling strong numbers. But according to Dave Meltzer, that golden stretch may finally be coming to an end.
On Wrestling Observer Radio, Meltzer broke down the viewership numbers and 18-49 ratings for WWE and AEW – and the numbers paint a grim picture. Virtually every major show across the wrestling landscape has seen a significant dip in viewership, marking one of the sharpest declines in recent memory.
Meltzer noted that RAW, SmackDown, and NXT all hit near-record lows in recent weeks, even without major sports competition eating into their audience. Over on the AEW side, Dynamite and Collision also saw weak performances, with Collision drawing its lowest 18–49 demographic rating to date.
The trend, Meltzer explained, isn’t isolated to one brand or platform – it’s industry-wide. He described the drop as “historic,” noting that the decline has happened shockingly fast over just the past couple of months.
While both promotions continue to make money and sell tickets, Meltzer believes the explosive growth period that defined wrestling’s modern “boom” is over. The market hasn’t collapsed, but the momentum that once made wrestling one of TV’s most reliable draws in recent memory appears to be slowing.
He also pointed out that the issue extends beyond wrestling, as UFC’s television numbers have slipped as well, suggesting a broader trend in how fans are consuming combat sports and entertainment overall.
The wrestling industry is still healthy, but the days of record-breaking audience surges may be behind it. The boom, that began during Roman Reigns’ Undisputed WWE Universal Championship reign and The Bloodline era, has officially peaked.
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