PWI Weekly for April 21, 2025
The State Of The Industry: Part One
AS BRITISH COMEDY legends Monty Python were fond of saying “… and now for something completely different.”
On this edition of the PWI Weekly, we are breaking from our usual format, instead, presenting you with a quick look at where the top promotions around the world are currently sitting in spring 2025. This week, we are sticking with the U.S.-based companies, while next week, we will bring you the big brands from Japan and Mexico.
WWE
Still the titan of wrestling entertainment, WWE’s reach extends far beyond the squared circle. For several years now, the company’s strategic focus on international expansion has been evident. The company’s recent European tour included multiple live broadcasts of Raw and Smackdown, with fans at a fever pitch for every show. This global footprint has been further amplified by the WWE-Netflix distribution deal, which has introduced WWE to swaths of new viewers around the world. With the recently announced acquisition of Lucha Libre AAA Worldwide, they are firmly planting their flag on the world stage.
In the ring, the talent roster continues to evolve (pun intended) with a new generation of potential stars stepping into the spotlight. NXT still serves as a vital pipeline, boasting several main-roster ready wrestlers in waiting, such as Stephanie Vaquer and Oba Femi. That’s not to overlook some of the veterans who are contributing. Who’d have thought that a villainous John Cena would be at the forefront of WWE in 2025? Granted, we’d always hoped.
AEW
While the Tony Khan-led company has had its share of bumps in the road in recent years, AEW still usually knocks it out of the park between the ropes. AEW’s commitment to high-caliber wrestling remains paramount, and the diverse roster of veterans and home-grown stars seems as hungry as ever. Swerve Strickland and Toni Storm are just two of the athletes who are doing their finest work there. Recently, AEW has leaned into its partnerships with other promotions, like World Wonder Ring Stardom and CMLL. This has served to create unique match-ups and helped introduce global talent to new audiences.
Dynamite and Collision remain the cornerstones of AEW’s weekly programming, but it’s on pay-per-view where the promotion truly shines. Without the restraints of television time, commercial breaks, or network requirements, the roster is free to go all out (look, another pun) and put on very well-received events. Key to this is the passionate and loyal AEW fanbase, which loyally attends shows and feels a true connection with the company.
TNA
TNA continues to experience a significant resurgence. Shows are taking place in front of larger and larger houses, and the promotion is once again a welcome alternative for fans and wrestlers not completely enamored with WWE or AEW. A key part of TNA’s revival comes down to a budding relationship with NXT that has turned full-on courtship in 2025. Gaggles of wrestlers have already crossed over between the two brands, and this has offered up fresh and interesting scenarios outside of their traditional stomping grounds.
Limited by its current television deal, TNA has done a fine job of maintaining and growing its audience. And, while letting go of backstage favorites like Gail Kim can’t do much for morale, the roster—including the signature Knockouts and X divisions—is one of the hardest-working around. TNA may be relying more than ever on outside help, but the promotion is enjoying more momentum than it has in years. Someone like Joe Hendry is proof that TNA can still create its own stars; and the recent resurgence of The Hardys reminds cynics and critics that life exists outside the “big two” promotions.
MLW
Major League Wrestling continues to tick along nicely in 2025. With a strong presence on YouTube, the company ensures its content is easily accessible to audiences. With a blend of lucha libre, strong style, and traditional American wrestling, MLW is a melting pot of talent and styles. Like AEW, MLW tends to utilize its relationships with international promotions, bringing in talent from Mexico and Japan for its major shows.
Delmi Exo, Matt Riddle, and Donovan Dijak are just a few of the well-travelled competitors who have found a home (and success) in MLW. Alongside them are some of the hottest up-and-comers on the independent scene. MLW has always had a good eye for talent. Just ask MJF and Jacob Fatu. And while the promotion tends to favor a more episodic and storyline-driven product, the in-ring action is still of high importance. In the ever-evolving and competitive world of wrestling, MLW maintains its place admirably.
NWA
There is no nice way to say it other than that the NWA is a far cry from where it was just a few years ago. Abandoning most of its throwback presentation that drew in new and long-time fans, the company has failed to really recapture a new identity. Rather than focus on being a single brand, the NWA has returned to being an umbrella for various independent territories around the globe. Whether this can truly boost the Billy Corgan-owned company remains to be seen.
It’s not all doom and gloom for the legendary National Wrestling Alliance, though. There are still some very talented grapplers attached to the promotion. Silas Mason, Kerry Morton, and Kenzie Paige are all worthy of being seen by larger audiences. If the NWA can better leverage its digital platform and find a new, distinct identity, it has the chance to claw back some of the attention and goodwill it built during the days when Nick Aldis was champion.