World Wrestling Entertainment
Just as any struggling star might do, the WWE has replaced Joel Simon, the former president of its film division, with Michael Lake. Lake has more than three decades of experience in the motion picture industry, and he was the executive producer of The Condemned.
In addition to the announcement, this stuck out in the press release: "[Michael Lake] will be tasked with developing theatrical and direct-to-video opportunities for WWE Films that provide unmatched on-screen action as vehicles for WWE Superstars." Furthermore, investors were reminded that WWE Films exists to "explore options in filmed entertainment in order to promote its Superstars."
The theory of using movies as vehicles for wrestlers hasn't worked so far, with the exception of The Rock. (He is featured in Disney's
My solution would be to forget about producing "vehicles for WWE Superstars." Instead, find great scripts that have commercial stories within them. Look for edgy, youth-targeted plots and promote the heck out of them during its shows.
Because the company hasn't booked revenue yet from its projects (the distributor's costs haven't been recouped), the WWE is looking at direct-to-video projects as a way of releasing movies more economically.
WWE shouldn't be discouraged. Its strength lies in its programming platforms, which in my opinion offer great exposure for movies. A change in leadership is a sound move, but WWE needs to update its thinking when it comes to the films it makes.
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Fool contributor Steven Mallas owns shares of Disney. His favorite film featuring a wrestler is John Carpenter's They Live, starring Roddy Piper. As of this writing, he was ranked 10,963 out of more than 65,000 investors in Motley Fool CAPS. Don't know what CAPS is? Check it out. The Fool has a disclosure policy.