Jeff Jarrett says independent promoters have more leverage with venues than many of them realize.
On My World with Jeff Jarrett, Jarrett was asked where the money is in independent wrestling.
“If you plan on getting rich, that ain’t gonna happen. It’s just not. But if you want to be profitable, you run the P&L the right way,” Jarrett said.
He said ticket sales and sponsorships are the main sources of revenue, and that pricing matters.
“The days of $10 and $15 ringside seats are gone, so you have to price it right.”
Jarrett recalled advising someone who runs music events.
“You act like these music venues are doing you a favor by renting you the building. You do realize if you don’t come, they can’t sell one beer, no parking, no nothing… The venue risks nothing. You’re in the driver’s seat.”
He said promoters should negotiate for a share of concessions.
“Hey, man, I want some of your beer money. I want some of your concession money… You’ve got to negotiate. So that’s why people who just kind of do four wall deals, they’re just not around.”
Jarrett also said social media is essential for promotions.
“If you’re not actively on social media as a promotion, and I’m not talking about putting your show up on YouTube, I’m saying you’ve got to be in the wrestling audience’s space, engagement over and over and over.”
Transcription by Global Force Entertainment.