The reason behind the 24/7 Title.
Dave Meltzer of the Wrestling Observer reports that WWE created the 24/7 Title in an effort to appease USA Network, who had been complaining of declining ratings in the third hour. According to the report, USA Network has sent WWE "all kinds of ideas" as of late and all the ideas were "terrible." However, the 24/7 Title was reportedly the best of their ideas and Vince McMahon knew he had to use at least one idea.
The third hour of Raw lost 284,000 viewers this past week. The Apr. 29 episode of Raw saw the third hour drop below 2 million viewers for the first time ever for a non-holiday episode.
Along with the 24/7 Title, WWE changed the look the third hour in an effort to make the final period of the show feel different. The lights were lower, the screens went black, and the graphics were changed. Mick Foley also confusingly stated that the 24/7 Title would only be featured during the third hour.
You can keep up with Fightful's running list of 24/7 Title changes by clicking here.