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Tony Khan received a spotlight on Forbes last week which revealed that AEW was not profitable in 2021 due to a massive investment in the development of their next video game. This has led to some criticism of its financial priorities.
In an interview with PW Insider, the chairman of AEW said he was confident that investing in video games would pay off in 2022:
… in 2022 we were going to have a huge year, uh, when we start seeing revenue from games and have a great TV deal. Well, continue to develop and grow as a live events and touring company, but also as a TV and pay-per-view company.
I expect to continue to see great growth. And with the launch of Rampage, things are really setting for a big 2022 as this will be Rampage’s first full year. So it’s going to be a huge year for us, but in 2021 I’m making an investment. While a lot of people were pulling out, cutting back and not investing during the pandemic, I made an investment in people and also quite frankly, a huge investment in video games. I am an investor in the gaming space, and I think I have been a savvy investor. I made a big investment with my family that I pushed my family to make and somehow with AEW I would describe it as one of the two investments where I dragged my dad across the line a bit. goal.
We invested $ 20 million in Epic Games, which sounds pretty smart now as it’s worth a lot more than that now. So gaming is something that we know well, and I happen to work closely with a gaming expert by the name of Kenny Omega who put together some great ideas and did a great job, uh, with Nick Sobek and a lot. other great people that I work with. Were going to make a great game for people next year, and were going to make a ton of money. Well be very profitable on all things next year. But this year is a profitable year of wrestling for us and it’s big and making a big investment in the game is a good thing. It shows the health and stability of the business.
Are you as convinced as Tony Khan is that his massive investment in video games will be worth it?
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