Controversy Creates Cash
“We also had to deal with bean counters gone wild. Finance took a look at our EBITDA— damaged by Thunder—and decided it wasn’t good.
“You have to cut your production budget. We’ve got to reach twenty percent growth in all of our divisions, and the only way you’re going to do that is by cutting all of your costs. So slice, slice, slice.”
The cuts hit our promotion budget hard, undercutting our ability to drive interest in the brand. Marketing and promotional expenses seem easy to cut, because the...y’re not fixed costs, like rent for example. But in our business, marketing and advertising get us to the dance. If you don’t market your product, it dies very quickly.
We went from 160 miles an hour, flying down the center of the track, to being told we couldn’t use tires anymore.
“And damn it, get out there and win that race!” That’s how ludicrous it was.
Remember, in three and a half years, WCW had gone from a company losing 10 million a year to one that netted 40 million in profit in 1998.MoreLess
“You have to cut your production budget. We’ve got to reach twenty percent growth in all of our divisions, and the only way you’re going to do that is by cutting all of your costs. So slice, slice, slice.”
The cuts hit our promotion budget hard, undercutting our ability to drive interest in the brand. Marketing and promotional expenses seem easy to cut, because the...y’re not fixed costs, like rent for example. But in our business, marketing and advertising get us to the dance. If you don’t market your product, it dies very quickly.
We went from 160 miles an hour, flying down the center of the track, to being told we couldn’t use tires anymore.
“And damn it, get out there and win that race!” That’s how ludicrous it was.
Remember, in three and a half years, WCW had gone from a company losing 10 million a year to one that netted 40 million in profit in 1998.MoreLess
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