National Wrestling Alliance

What National Wrestling Alliance does

The National Wrestling Alliance (NWA), founded in 1948, is the world's oldest continuously operating professional wrestling promotion, currently owned by musician Billy Corgan through Lightning One, Inc. (acquired 2020). Headquartered in Chicago, IL, and operating additional offices/event hubs in Atlanta, GA and Tampa, FL, the company produces weekly professional wrestling content under its flagship program NWA Powerrr, which returned to over-the-air U.S. television in May 2026 on Sinclair's Comet TV (Saturdays at 4 PM ET/PT) and is distributed via streaming partnerships with Tubi (Fox Corporation) on a weekly Thursday on-demand cadence and the Roku Channel. Beyond the flagship show, the product portfolio includes the NWA Worlds Heavyweight Championship, the Crockett Cup tag team tournament (40th anniversary in 2026), the Hard Times live-event series, the new Into the Fire competition series, the NWAMerch.shop merchandise storefront, and Wrestling Central — a 24/7 FAST channel co-operated with WOW (Women of Wrestling) on Roku Channel 208 across the US and Canada. The promotion also retains a territorial affiliate structure (NWA Southeast, Chicago, Texas, New Mexico, World League Wrestling, Kross Fire) that historically extended its operational footprint.

The NWA's business model is a multi-stream entertainment operation: live-event ticket revenue through third-party ticketing (Ticketmaster, ShowTix) at venues such as Center Stage in Atlanta; broadcast and streaming licensing/rights revenue from platform partners; merchandise sales via NWAMerch.shop; and corporate sponsorship through a publicly listed 'Become a Sponsor' program. Distribution reaches audiences through a layered stack — weekly linear TV (Comet), free ad-supported streaming (Tubi, Roku), owned FAST channel (Wrestling Central), YouTube highlights/promos, and organic social channels (X, Facebook, Instagram) — with a subscriber or paywall model absent across the stack. Revenue is non-publicly disclosed; the company is privately funded by a single high-net-worth owner-operator.

Customers are mass-market professional wrestling fans and general sports-entertainment consumers in the US, with the primary segment oriented toward audiences seeking traditional/Nostalgic wrestling content. There is no enterprise/B2B customer base; rather, customer concentration risk is structurally inverted — concentration sits at the distribution-partner level (Comet, Tubi, Roku) rather than at the end consumer. No proprietary technology platforms, AI/ML capabilities, or data-driven products are referenced in available materials; the operating model is traditional content production and multi-platform content licensing.

Name

National Wrestling Alliance

Legal name

Lightning One, Inc.

Website

https://nationalwrestlingalliance.com

Company type

Private

Founded year

1948

Operating status

Operating

Short description

The National Wrestling Alliance is the world's oldest professional wrestling promotion (founded 1948), producing weekly TV content via NWA Powerrr on Comet TV, Tubi, and Roku, plus live events and merchandise, and serving mass-market US wrestling and sports-entertainment fans under private ownership by Billy Corgan's Lightning One, Inc.

Ownership category

akta.pro rank

Product category

Professional Wrestling Entertainment

NAICS

Sports Teams and Clubs (711211), Television Broadcasting Stations (51612)

SIC

Television Broadcasting Stations (4833)

akta.pro primary industry

Professional Wrestling Promotions (MPAKAHAC)

akta.pro secondary industry

Combat Sports Sanctioning Bodies & Commissions (Boxing/MMA/Kickboxing) (MPAKAFAI)

Keywords

• Professional wrestling promotion
• Wrestling live events
• Wrestling television programming
• Wrestling merchandise sales
• Wrestling streaming content

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Live Event Revenue: Ticket sales from live wrestling events including Hard Times 6, Into the Fire, NWA 78, and other live shows at venues like Center Stage in Atlanta, GA.
2. Broadcasting and Streaming Rights: Partnerships with Comet TV, Tubi, and Roku Channel provide distribution and potentially licensing fees for broadcasting NWA Powerrr and other NWA content.
3. Merchandise Sales: NWA branded merchandise including apparel and collectibles sold through NWAMerch.shop.
4. Sponsorship: Corporate sponsorships and the Become a Sponsor program featured on the NWA website.

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

The National Wrestling Alliance is a professional wrestling promotion that produces and distributes weekly wrestling television programming (NWA Powerrr), operates live wrestling events including signature tournaments, and sells branded merchandise. Content is distributed through broadcast television (Comet TV), free streaming platforms (Tubi, Roku), and a dedicated 24/7 FAST channel (Wrestling Central). Revenue is generated through ticket sales, broadcast/streaming licensing, merchandise, and corporate sponsorships.

Product overview

The National Wrestling Alliance operates primarily as a professional wrestling promotion and governing body, offering a portfolio of entertainment products centered around its flagship television program NWA POWERRR, live event properties including NWA Hard Times 6 and NWA Crockett Cup, and a new competition series NWA Into The Fire. Content is distributed through over-the-air TV (Comet TV), streaming platforms (Tubi, Roku), and the dedicated Wrestling Central FAST channel. The NWA also maintains a merchandise store for branded products.

Differentiator

Problem solved

Functional benefit

Brands

• NWA POWERRR: Flagship television series featuring professional wrestling matches and storylines.
• NWA Into the Fire
• NWA Crockett Cup
• NWA Hard Times
• Wrestling Central

Products and services

• NWA Powerrr The flagship weekly television program of the National Wrestling Alliance, featuring professional wrestling matches, championship bouts, storylines, and talent competitions. Aired weekly on Comet TV and available on-demand on Tubi and Roku Channel for wrestling fans.
• NWA Crockett Cup Annual NWA tag team tournament event held live, featuring teams competing for the Crockett Cup trophy and championship opportunities. Created for wrestling fans attending live events and following NWA programming.
• NWA Into The Fire A new reality-style competition series where eight contestants compete for the opportunity to join the NWA roster and earn a professional wrestling contract, airing on Comet TV in 2026.
• NWA Hard Times Annual live NWA wrestling event series, with Hard Times 6 held at Center Stage in Atlanta, GA, featuring championship matches and top NWA talent for wrestling fans attending live shows.
• NWA Merch Official NWA merchandise store (NWAMerch.shop) selling NWA branded products including apparel, accessories, and collectibles for wrestling fans.
• Wrestling Central A 24/7 free ad-supported streaming FAST channel jointly operated with WOW (Women of Wrestling) that aggregates NWA and WOW content, available on Roku Channel 208 in the US and Canada and across additional connected TV platforms.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• Tubi (Fox Corporation)coreChannel Partner/ Reseller/ Distributor · 24 June 2026NWA announced a new streaming partnership with Tubi, Fox Corporation's free streaming service. Under the agreement, brand-new episodes of NWA Powerrr stream weekly on Tubi, available on-demand every Thursday. This partnership provides fans across the United States easy access to NWA content through the digital platform.
• Comet TV (Sinclair Inc.)coreChannel Partner/ Reseller/ DistributorNWA Powerrr returned to over-the-air TV for the first time in more than three decades through partnership with Sinclair Inc.'s Comet TV. The show debuted May 1, 2026 with a two-night premiere and now airs weekly on Saturdays at 4 PM ET/PT with encore presentations. This is NWA's primary broadcast television partner.
• Lightning One, Inc.coreOthersLightning One, Inc. is the parent company of the National Wrestling Alliance, owned by musician Billy Corgan (frontman of The Smashing Pumpkins). Corgan serves as CEO and President of NWA. Copyright notices on the website indicate Lightning One, Inc. owns the NWA brand and content.
• WOW (Women of Wrestling)minorChannel Partner/ Reseller/ DistributorJoint streaming partnership creating 'Wrestling Central' - an all-wrestling FAST channel featuring both NWA and WOW content. Available on Roku Channel 208 across the United States and Canada, as well as Amazon Fire devices, Samsung TVs, and Google TVs through The Roku Channel app.
• RokucoreChannel Partner/ Reseller/ DistributorNWA content is available on the Roku Channel (Channel 210) with episodes available on-demand. The partnership provides reach to Roku users for streaming NWA Powerrr episodes.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• World Wrestling Entertainment (WWE): The dominant global professional wrestling promotion, now part of TKO Group Holdings. Operates a far larger version of NWA's exact business model—weekly TV programming, pay-per-view events, live touring, merchandise—making it the ultimate comparable for industry economics despite massive scale difference.

Emerging players

• Game Changer Wrestling (GCW): Independent wrestling promotion known for an edgy, indie positioning and strong streaming/PPV distribution. Comparable as a non-TV-anchor promotion that monetizes through live events and digital content—an alternative indie model against which NWA's Comet TV partnership should be benchmarked.

Direct peers

• Women of Wrestling (WOW): Women's-focused professional wrestling promotion that is also NWA's joint FAST channel partner on 'Wrestling Central.' Operates a similar scale, streaming-first distribution strategy, and live event model—directly comparable as a same-tier wrestling media company.
• Major League Wrestling (MLW): Independent US wrestling promotion operating weekly programming, live events, and a roster-based competitive structure. Most directly comparable in scale, distribution model (YouTube/streaming/reluctant cable deal), and target audience to NWA.
• All Elite Wrestling (AEW): Modern American professional wrestling promotion with weekly TV programming, pay-per-view events, and a similar indie-to-mainstream trajectory. Directly competes for the same wrestling fan audience and free-agent talent pool, with major TV deals (TNT/TBS) that anchor the competitive set.
• TNA Wrestling (formerly Impact Wrestling): Mid-size American professional wrestling promotion operating weekly TV, pay-per-views, and live events at a scale closer to NWA than WWE. Comparable on business model, target demographics, and the challenge of building audience share against WWE and AEW.
• Ring of Honor (ROH): Professional wrestling promotion with historic lineage and a national TV history, now operated by AEW/Tony Khan. Comparable as a heritage wrestling brand navigating modern streaming distribution—relevant precedent for NWA's growth path.

Others

• Comet TV (Sinclair, Inc.): Sinclair-owned digital subchannel network that is NWA's primary broadcast partner. Relevant as the distribution enabler whose continued commitment to NWA Powerrr is foundational to NWA's current go-to-market; not a competitor but a structural dependency.

Regional players

• Lucha Libre AAA Worldwide: Mexico-based major wrestling promotion with US distribution through FOX Sports and streaming. Comparable as a heritage lucha-libre promotion operating across Spanish- and English-language markets—structurally similar federation model with regional anchor.
• New Japan Pro-Wrestling (NJPW): Japan-based major wrestling promotion with global streaming (NJPW World) and a comparable heritage/championship-lineage narrative. Comparable on the international, federation-style operation and championship-first brand even though its primary market is Japan.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/nwa
• YouTubeyoutube.com/nwa
• Facebookfacebook.com/NWA
• Instagraminstagram.com/nwa
• LinkedInlinkedin.com/company/national-wrestling-alliance-nwa

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Wrestling Alliance