Honestly, not anymore than the concept is already hurting them. As a matter of fact, I watched the Royal Rumble with a internet hook-up.
Their numbers are already dipping and that has a lot to do with; booking, the characters, etc. However, it has a lot to do with illegal connections and internet streams in particular.
It's something they will never be able to completely stop and will undoubtedly stop them from ever reaching the heights it once reached. Still, there are ways they can clean this up to an extent.
Eventually, what they have to hope for is a way of broadcasting that is harder to steal, essentially.
As far as another company finding a way to capitalize of off this. Not likely.
This company would need enough money to advertise their arrival and get as many viewers as possible. However, unless the company is backed by multi-millionaires, they'd be at a loss for money, because initially, they'd have no advertisement. They'd also reach less viewers initially, and would have to charge less for their advertisement. This would create a problem when trying to pay off the workers, which would mean they'd have less high-profile workers.
So, it's unlikely.