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Someone posted this earlier with regards to WWE’s sinking ratings since the attitude era. It’s true, it’s faded faster than actual cable cutting.
However, unlike Raw/Nitro, AEW’s ratings have died since the debut rather than grown. The 18-49 is down over since 60% since the debut, and overall audience is down 30% compared to 2022.
Tony was the one tweeting about the ratings, along with Cody/Jericho. Average PPV buys are down over 10% in 2022. It’s just not growing, simple numbers. The fix is more complicated and involves Tony giving up control.