Netflix Secures Exclusive Rights to WWE's Raw in $5 Billion Deal
In a groundbreaking move, streaming giant Netflix has signed a $5 billion, 10-year deal to become the exclusive home of World Wrestling Entertainment's (WWE) flagship live pro wrestling show, Raw, starting in January 2025. The deal is presently valued at £500 million annually for the next ten years, with Netflix having the option to opt out after the initial five.
The move is a major leap for WWE as Raw leaves linear television for the first time in its 30-year history, following the merger of WWE with UFC parent Endeavour Group to form TKO Group Holdings in a $21 billion deal last year. The show, which has aired 1,600 episodes since its 1993 debut, reportedly attracts 17.5 million weekly viewers.
The agreement is set to cover the United States, Canada, the United Kingdom, Latin America, and is expected to be expanded to other territories in the coming years. It has also seen Netflix gain exclusive rights to broadcast WWE shows and specials outside the U.S., including SmackDown and pay-per-view events like WrestleMania and the Royal Rumble.
Raw will continue airing on NBCUniversal until October 2024 when their deal expires. The broadcast details between the end of the NBC deal and the commencement of the Netflix agreement are currently unknown.
WWE President Nick Khan expressed excitement about the partnership, stating, "We believe Netflix, as one of the world’s leading entertainment brands, is the ideal long-term home for Raw’s live, loyal, and ever-growing fan base."
In another major announcement, Hollywood star Dwayne Johnson, aka "The Rock," has joined the TKO Board of Directors, now owning the trademark for his iconic in-ring name. "Being on the TKO Board of Directors, and taking full ownership of my name, 'The Rock', is not only unprecedented, but incredibly inspiring as my crazy life is coming full circle," he said in a statement. This move has sparked rumours of Johnson's potential return to the wrestling ring after a surprise appearance on Raw earlier this month.
Since the announcement, shares of Netflix have seen a 3% increase in premarket trading, while TKO Group, the parent company of WWE, experienced a significant 16% surge. This deal follows Netflix's recent forays into live events, such as streaming a celebrity golf tournament and securing rights to a tennis face-off.
