The ongoing decline in viewership for All Elite Wrestling’s flagship program has become a significant challenge for Tony Khan, as last week’s AEW Dynamite delivered the lowest ratings ever recorded for a New Year’s special. Questions are mounting about what steps Khan might take to reverse the Tony Khan AEW ratings decline, especially after the recent episode featured many of the promotion’s biggest stars.
AEW Dynamite Sees Further Drop Despite Major Star Power
In recent years, AEW Dynamite has been unable to halt its steady loss of television viewers. Last week’s episode, New Year’s Smash, stood out for its strong lineup, including performances from Hangman Page, Jon Moxley, Kenny Omega, and Toni Storm. Viewers also noted Bandido’s significant momentum ahead of his matchup with MJF at Maximum Carnage, adding further anticipation to the event.
The main event featured Willow Nightingale, who had previously managed to pin Mercedes Mone twice. Willow challenged the CEO for the TBS Championship, a title Mercedes had retained for 584 days up to that night. On the final Dynamite of the year, Willow emerged victorious, ending Mercedes Mone’s lengthy reign.
Despite these notable developments, the ratings did not reflect the star power on display. According to Wrestlenomics, Dynamite’s average viewership reached just 398,000, with a 0.07 rating in the critical demographic segment. This marks a drop from the prior week’s numbers, where 511,000 tuned in on December 17, 2025. The most recent broadcast now stands as AEW’s lowest-rated New Year’s show, a stark contrast to the 588,000 viewers and 0.16 rating achieved by the same event last year.
Upcoming Storylines and Star Lineup on the Next Dynamite
Looking ahead, AEW is preparing another high-profile edition of Dynamite, stacking the card with its marquee names. MJF recently reclaimed the AEW World Championship at Worlds End, bringing back the Triple B title. During the last Dynamite, he faced confrontations from past rivals, including Hangman Page and Swerve Strickland, while Kenny Omega made a bid for a potential title shot. These events have set the stage for continued drama and storyline development on this week’s show.
The upcoming face-off between MJF and Bandido is especially anticipated, as both are scheduled to clash at Maximum Carnage. MJF could address Bandido directly on the next episode, building hype for their championship match.
“LIVE, 8/7c on TBS + HBO Max Wednesday, 1/7 AEW World Champion @The_MJF Appears LIVE! What will MJF say after being confronted by Hangman, Kenny Omega, Swerve, Samoa Joe & Brodido? MJF defends the title vs @BandidoWrestler NEXT WEEK,1/14! Dynamite, THIS WEDNESDAY!”
The announcement underscores the effort to spotlight Tony Khan’s biggest stars and storylines in hopes of reversing the ratings trend.
Implications for Tony Khan and AEW Moving Forward
With viewers continuing to decline for AEW’s flagship show, Tony Khan faces increased pressure to adapt his strategy and reinvigorate fan interest. While the promotion still features highly regarded wrestlers like Willow Nightingale, MJF, Kenny Omega, and Mercedes Mone, the drop in audience numbers signals that more may need to be done to retain and grow the wrestling audience. The coming weeks will be pivotal for AEW as Khan attempts to restore momentum and reassert AEW’s place in the wrestling landscape.
#AEWDynamite Last Wednesday –
Average Viewers: 398,000
P18-49: 0.07 pic.twitter.com/Zyd7LFgRjL
— WrestlePurists (@WrestlePurists) January 6, 2026
