TKO president Mark Shapiro says the real upside for WWE on ESPN is still to come.

Speaking at the Morgan Stanley Technology, Media and Telecom Conference, Shapiro addressed WWE’s move of premium live events to ESPN Unlimited and the questions surrounding accessibility and audience reach since the shift last September.

He admitted the change has had an impact.

“It definitely impacts us,” Shapiro said, noting that similar concerns were raised when WWE content moved to Peacock. “(Moving to Peacock) was a total success. We play the long game with WWE and we’re doing the same with ESPN.”

Shapiro praised ESPN Unlimited as a strong value for sports fans but made it clear that wider authentication is key. Currently, the $29.99 monthly price for non authenticated users can be a barrier.

“That is, I believe, somewhat prohibitive, especially in today’s economy and the struggles that certainly middle income and low income earners are having with affordability,” he said. “They have to get those deals done. Until they do, that will affect our audience.”

He pointed to Comcast Xfinity already enabling authentication, with YouTube and Dish expected to follow. Once all major cable and streaming providers allow subscribers to log in at no extra cost, Shapiro believes WWE viewership will immediately benefit.

Despite the transition period, Shapiro said this past weekend’s Elimination Chamber delivered encouraging results. He revealed there was “a significant increase in audience” compared to last September’s Wrestlepalooza and said he was “super encouraged” by the real time numbers being shared by WWE president Nick Khan. However, he acknowledged they are not yet at the levels seen a year ago on Netflix or Peacock.

Shapiro also touched on the potential acquisition of Warner Bros. Discovery by Paramount Skydance, calling it “only good for us.” He highlighted TNT and HBO’s strong association with sports and suggested TNT could be a natural fit for UFC events if a deal materializes.

Overall, Shapiro made it clear that WWE and TKO are taking a long term view, confident that broader access to ESPN Unlimited will unlock stronger numbers moving forward.