Forbes Sports Money contributor Alfred Kounwa raised some interesting questions for WWE in light of its tanking viewership numbers in an article released online Friday. 
Here is an excerpt from the article that reflects fans tuning out RAW and SmackDown Live recently: 
This week’s episodes of Raw and SmackDown Live were down 30% and 25% from 2018, respectively. Raw drew a 2019-low of 2.158 million viewers while SmackDown Live logged a 2019-low of  1.833 million viewers. To put this in perspective, Raw’s average viewership through 2018 saw a 32% decline over the past five years.

The biggest drops came among younger demographics. In the case of SmackDown Live, viewership was down 38% among teenagers and 40% among the 18-35 demo.
Kounwa pointed out that it’s fair to wonder whether the Fox network might have buyer’s remorse. With numbers like these during negotiations last year, they likely would not have come to terms with WWE on a billion-dollar deal for the broadcast rights. The promotions bump WWE will get from Fox with advertising in college football, the NFL and NASCAR programming will help, but are some of these viewers ever going to return to the WWE? 
Fans are quick to throw out theories, but it’s safe to say that Baron Corbin can’t be blamed for all that ails the WWE. That was the storyline thrown out by the McMahons during their “fresh start” initiative at the start of 2019. However, discontent with the WWE and its product has lingered as reflected by the increasingly weaker viewership numbers. The decline RAW alone has experienced over the past 5 years is drastic, falling off a cliff from 4.143 million to 2.823 million average viewers in a period from 2014-18. 
Try as they might, the WWE apparently has not found its answer for a transcendent star that energizes TV viewers like Stone Cold Steve Austin, The Rock and Degeneration X did during the late 1990s. Here is a link to the full Forbes article: 

https://www.forbes.com/sites/alfredkonuwa/2019/05/03/wwes-viewership-is-tanking-fast-with-no-signs-of-slowing-down/#41a035db7a3f