Showtime’s exit leaves questions

By Norm Frauenheim –

Showtime was at ringside before Canelo Alvarez was born, yet its imminent exit from boxing isn’t much of a surprise. It is however, a warning for a battered, balkanized business forever at odds with itself.

Only boxing is killing boxing. It’s an old line that bears repeating in the wake of the announcement this week that the network will televise one, maybe two more cards, including David Benavidez’ Nov. 25 super-middleweight date with Demetrius Andrade in Las Vegas.

Benavidez is 26, a face of boxing’s emerging generation. It’s fair to guess that the Phoenix-born fighter and former-two-time champion assumed that Showtime would always be there. He grew up with it. Throughout his unbeaten career, it was part of the show. 

But it’s exit, predicted for years, leaves questions about what awaits him, his rivals and their generation of fans.

Showtime has been fundamental to their hopes and expectations. It brought the money. But if Benavidez beats Andrade, will enough of that be there for a projected Canelo-Benavidez blockbuster next year, post-Showtime?

That’s just one question, emblematic of the many that boxing never really considered amid all the speculation that the network was approaching its final bell.

Rumors were there last month throughout the fight-week build-up for Canelo’s one-sided decision over Jermell Charlo, also on Showtime. By then, however, it was too late for any substantive change. After all, Showtime’s exit from boxing was predicted in 2018.

That’s when Top Rank’s Bob Arum said Showtime would eventually follow HBO and leave boxing.  

“Showtime does not belong in boxing,’’ Arum said.

Arum made the comment to reporters before Canelo’s majority decision over Gennadiy Golovkin on Sept 15 in a 2018 rematch on HBO. Twelve days later, HBO announced it was throwing in the towel, finished after 45 years.

“I mean, they’re wasting the stock holders money by doing boxing matches,’’ Arum said then.  “They should invest in entertainment because HBO realizes they’re in a dogfight with Disney, with Netflix, and so every dollar that they can conserve to put into entertainment, they need desperately.

“Showtime has to become aware of that fact, but the only way they’re going to survive is with good entertainment, because unfortunately when you do boxing, you open and close the same night.’’

Showtime’s exit became inevitable last January with Paramount+, a streaming service and a sure sign of change in philosophy – a move toward long-running shows.

Rather than one night of boxing or a live concert, Arum said, HBO and Showtime can only compete with shows that can draw an audience week after week, night after night.

“And five years from now, the linear platform won’t mean bleep,’’ Arum – aligned with ESPN since 2017 — said five years ago. “Everything will be streaming – everything. Entertainment, sports, everything will be streaming.”

Bingo.

However, either boxing didn’t listen. Or, it just assumed the good times would never end. Or, it did what it has always done. To wit: Grab the fast buck and move on.

Fighters with little name recognition made big money. The younger generation began to look upon Floyd Mayweather’s brilliant career as the model.

Throughout his long-running deal with Showtime, Mayweather did more than follow the risk-to-reward ratio to the top of the pound-for-pound debate. He rode it straight to the top of Forbes’ list of the world’s wealthiest athletes. He was No. 1 in 2018.

What could go wrong? Plenty. There was only one Mayweather. He made unprecedented money, pre-stream. But that risk-to-reward formula left an assumption that the money would never end. The Showtime exit is a sign that it will.

It’s still hard to say what impact that might have on a possible Benavidez-Canelo fight, a bout that fans have wanted for a couple of years.

It leaves a further question about the chances of a projected Terence Crawford-Errol Spence rematch of Crawford’s singular performance in a stoppage win in July, also on Showtime.

The sad aspect to the Showtime exit after 37 years is in the timing. 2023 has been one of boxing’s best years in some time. Under Stephen Espinoza’s guidance, it staged a comeback.

For years, there has been doom-and-gloom — persistent talk about an eroding fan base. But Showtime began to rediscover that audience, first in April with a reported 1.2 million pay-per-view customers for Tank Davis’ blowout of Ryan Garcia.

Then, there was Crawford-Spence. The welterweight fight had been talked about for years. Then, there were negotiations, misinformation and even a reported fight date — Nov. 19 2022. In the end, however, there was only futility.  Talks broke down in October.

Fans were outraged. More than a few editions of the boxing-is-dead theme were written, including one in this corner.

But Showtime persisted. The fight got made and it delivered a sensational moment from Crawford on July 30. 

The fight did fewer PPV numbers — a reported 700,000 — than Davis-Garcia. The number was solid. But, above all, Crawford-Spence delivered a message: The business had a pulse.

Still does.

But is anybody listening?