Hulk Hogan: Wrestlemania is like 1,000 Super Bowls
More than 70,000 fans are expected to fill Levi's Stadium in Santa Clara, California, this weekend and maybe a million more will tune in on TV for the WWE's biggest event of the year—Wrestlemania.
Hulk Hogan, arguably the sports most recognizable name, told CNBC the industry he helped build is faring better than ever.
"When I started this thing 30 years ago with Vince McMahon, I never dreamed 31 years later, we would be running bigger than ever," Hogan said on CNBC's "Squawk Alley."
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There's big business behind WWE's flagship event that Hogan says is like "the Super Bowl, but times 1,000." Last year, more than a million people paid to access WWE's Wrestlemania via pay-per-view and the WWE's new digital network.
The host city, New Orleans, generated a record-breaking $142.2 million in economic impact for the city and broke the record for the Mercedes-Benz Superdome's highest grossing event as 75,000 fans from 36 countries attended.
Wrestlemania also drives huge traffic to the WWE digital network. It added 667,000 new subscribers following Wrestlemania 30.
For $9.99 per month, the channel provides streaming access to all WWE events, including all 12 live pay-per-view events.
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Shareholders have kept the company on the ropes for much of the last year. Shares of WWE have fallen more than 40 percent over the last 12 months, though the stock has bounced 33 percent in 2015.
In January, the network hit the 1 million subscribers milestone. This year, WWE is hoping Wrestlemania 31 will drive even more subscribers as the network has become integral to the overall success of its business.
"It's a whole another world with social media and all the vehicles they have these days—there is no shot that is not heard worldwide," said Hogan.
Clarification: An earlier version of this story misstated the channel's customer terms. The $9.99 price no longer carries a minimum time commitment.