Development
In the late 1980s, Vince McMahon's World Wrestling Federation (WWF)'s main competition in the professional wrestling industry was from Jim Crockett Promotions. McMahon countered Jim Crockett's successful Starrcade pay-per-view, which began airing in 1983, by creating the WrestleMania franchise. After WrestleMania III in March 1987, the most successful professional wrestling pay-per-view event in history, McMahon created the Survivor Series franchise, which aired the same day as Starrcade '87 in November 1987. After defeating Crockett in the ratings war, McMahon created the Royal Rumble, an event airing for free on the USA Network in January 1988. The event set a ratings record for the network with eight million households tuning in to watch the event. In retaliation, Crockett created the Clash of the Champions event, which aired simultaneously with WrestleMania IV. WrestleMania IV garnered higher ratings, and not long after, Crockett filed for bankruptcy and sold his company to Ted Turner, who renamed it World Championship Wrestling (WCW).
As the WWF continued to replace its closed circuit programming with pay-per-view programming, McMahon added more pay-per-views to the lineup to capitalize on the success of his previous events. In addition to WrestleMania in March, Royal Rumble in January, and Survivor Series in November, McMahon created an event for August, which he named SummerSlam. To keep the WWF from having a pay-per-view market monopoly, Turner began airing monthly WCW pay-per-views. As a result, both companies brought in hundreds of millions of dollars of revenue. SummerSlam became one of World Wrestling Federation's most successful events and one of the "Big Four" pay-per-views, along with WrestleMania, Survivor Series, and Royal Rumble. Those four events, along with King of the Ring, are known as the "Classic Five".
Read more about this topic: Summer Slam (1988)
Famous quotes containing the word development:
“The work of adult life is not easy. As in childhood, each step presents not only new tasks of development but requires a letting go of the techniques that worked before. With each passage some magic must be given up, some cherished illusion of safety and comfortably familiar sense of self must be cast off, to allow for the greater expansion of our distinctiveness.”
—Gail Sheehy (20th century)
“The Cairo conference ... is about a complicated web of education and employment, consumption and poverty, development and health care. It is also about whether governments will follow where women have so clearly led them, toward safe, simple and reliable choices in family planning. While Cairo crackles with conflict, in the homes of the world the orthodoxies have been duly heard, and roundly ignored.”
—Anna Quindlen (b. 1952)
“There are two things which cannot be attacked in front: ignorance and narrow-mindedness. They can only be shaken by the simple development of the contrary qualities. They will not bear discussion.”
—John Emerich Edward Dalberg, 1st Baron Acton (1834–1902)