WWE Gets It Right For First WrestleMania on ESPN

For the first time in its storied four-decade history, WWE's WrestleMania will air exclusively on ESPN this April. WrestleMania 42 will stream in its entirety on the ESPN app, with the first hours on Saturday and Sunday airing on the ESPN and ESPN2 cable channels.

WWE announcing a partnership with ESPN to air premium live events last August surprised industry analysts. Though ESPN has increased its coverage of pro wrestling in recent years, the thought of the leading sports network in the country investing in a scripted sport would have been a nonstarter even five to ten years ago.

It's a tribute to WWE leadership, particularly President Nick Khan, for helping mainstream the product. On a weekly basis, WWE television shows outdraw most national NBA and MLB games. As a result, leading distributors are willing to pay a premium for its programming.

Specifically, the ESPN-WWE deal is worth $1.6 billion over the next five years. The Netflix agreement to air Monday Night Raw is worth $5 billion over 10 years. The promotion also has deals with the USA Network, Peacock, and The CW.

The brand is also a juggernaut digitally. The WWE YouTube page has 112 million subscribers. By comparison, the NFL has 16.3 million. The NBA has 24 million. ESPN has 14 million.

Still, WWE needed to maximize its WrestleMania card to best market its debut on ESPN. That was always going to be a challenging quest, considering the divide between hardcore fans and casuals who tune in only for major events like WrestleMania, SummerSlam, and the Royal Rumble. 

Hardcore fans want the company to push new stars for the next era. Casual fans want WWE to bring in legends for one-off appearances.

Though the booking has been rocky over the past 12 months, WWE has landed on an ideal two-night main event combination. One night will feature Cody Rhodes vs. Randy Orton for the Undisputed WWE Championship. The other will see CM Punk defend the World Heavyweight Championship against Roman Reigns.

The main events are a satisfying blend that stays true to weekly viewers while offering enough mainstream appeal to convince on-the-fence viewers to give the product a try.

For those who don't follow wrestling closely but are curious about the recent boom in WWE, here is a breakdown of the four main event competitors:

Randy Orton addresses Cody Rhodes during SmackDown at Riyadh Season Stadium at KAFD on January 30, 2026 in Riyadh, Saudi Arabia. (Photo by Georgiana Dallas/WWE via Getty Images)

Cody Rhodes is the company's top babyface, as in the ultimate good guy in the mold of Hulk Hogan and John Cena. He is the son of WWE Hall of Famer Dusty Rhodes, but his path was far from linear. Early in his career, Cody was treated more like a mid-card sideshow act. He eventually left the company and built his character on the independent scene in Japan and Ring of Honor.

Rhodes also co-promoted the independent event All In in 2018 – the precursor to the launch of AEW, a promotion in which Rhodes served as both a performer and executive vice president. He returned to WWE in 2022 and has since been positioned as the centerpiece of the company's storytelling. He is now set to main event his fourth consecutive WrestleMania.

Randy Orton is a 24-year veteran of WWE and has the third-most world championship victories in company history with 14. However, it was not until the past year that fans truly reappraised Orton's value. While he was often featured prominently, Orton spent much of his career positioned behind John Cena as the company's top star and later settled into a secondary role.

Over the past year, the crowd reactions he receives from city to city have made him feel like the biggest attraction of his career. Expect the crowd in Las Vegas to cheer heavily for Orton during the match.

The other main event may be even more compelling.

CM Punk and Roman Reigns face off during Monday Night RAW at Xfinity Mobile Arena on February 2, 2026 in Philadelphia.  (Photo by Craig Melvin/WWE via Getty Images)

Like Rhodes, CM Punk's career path has been unconventional. Punk was one of WWE's most popular performers between 2005 and 2014. During that time, he famously blended real-life friction with management into his on-screen character.

Punk is best known for his "pipe bomb" promo, in which he criticized Vince McMahon on live television and spoke directly to fans who believed he should have been pushed ahead of Cena as the company's top star.

Punk left WWE in 2014 and stayed out of professional wrestling until 2021. That year he joined AEW and helped elevate the company to its most successful run yet. The run did not last long. Punk was involved in multiple backstage incidents that included real-life fights, suspensions, and firings.

While Punk's behavior in AEW raises valid questions about his off-screen conduct, he has remained a significant draw since returning to WWE in 2023.

And there is Roman Reigns.

Roman Reigns enters the ring during Monday Night RAW at Gainbridge Fieldhouse on March 2, 2026 in Indianapolis, Indiana.  (Photo by Rich Freeda/WWE via Getty Images)

For all the online banter about needing to create new stars, it would have been a substantial mistake for WWE not to feature Reigns in the first WrestleMania on ESPN. Consider how much juice the Super Bowl lacked this season without Patrick Mahomes. Look at how far the NBA's Finals appeal drops when LeBron James and Steph Curry are not involved. Reigns carries that level of star power for WWE.

In fact, the difference in aura between Reigns and Cody, Punk, and Orton is obvious. He has crossover appeal that the others do not. Viewership on Netflix spiked above 3 million last week when he appeared.

For all the talk about last year's event being marred by a questionable storyline that began but did not finish with The Rock, not including Reigns in the championship matches was also a letdown.

WWE is on a record-breaking stretch in television deals, ticket sales, ratings, merchandise, and global popularity. That does not happen if Reigns and the Bloodline storyline does not take off in 2022. Anyone who does not follow WWE regularly will find Roman Reigns' entrance and performance at WrestleMania to be a spectacle.

From a mass appeal standpoint, Orton, but especially Reigns, should leave Las Vegas as champions.

In any event, WWE has gotten the card right for its first ESPN WrestleMania. And we encourage those who do not yet watch to pick a fighter over the next five weeks.

Based on the numbers, we expect ESPN to root for Roman Reigns.