Netflix has clinched a $5 billion deal to exclusively livestream World Wrestling Entertainment's (WWE) flagship program, Raw, starting from January 2025. This 10-year agreement will not only cover the United States but also extend its reach to Canada, Britain, and Latin America.
As part of the deal, Netflix has secured exclusive streaming rights for all WWE shows and specials outside the US, encompassing fan-favorites like SmackDown and high-stakes pay-per-view events including WrestleMania and Royal Rumble.
Sources suggest that Netflix has the option to extend the exclusivity of WWE's Raw for an additional 10 years or reconsider its position after the initial five years, according to a report by Reuters.
This strategic move by Netflix aligns with its recent forays into live events, beginning with comedian Chris Rock's stand-up special, "Selective Outrage," and gaining traction with sports-themed programming like the Formula 1 documentary series, "Drive to Survive," and the golf-focused "Full Swing."
The acquisition of WWE's Raw marks Netflix's first substantial venture into long-term live events catering to a dedicated, multi-generational fan base. Unlike traditional sports, WWE offers year-round entertainment, enhancing Netflix's appeal and value as it expands its ad-supported streaming service, referred to in the industry as AVOD.
Raw, which airs on Mondays and boasts 1,600 episodes since its 1993 debut, consistently dominates the USA Network, drawing 17.5 million unique viewers annually. This move comes as the previous rights agreement with Comcast concludes, where Raw received approximately $265 million annually, as reported by Bloomberg News.
The WWE's merger with Endeavor Group's UFC last year, forming TKO Group Holdings in a $21 billion deal, solidified its position as a powerhouse in the wrestling and entertainment industry. The Netflix-WWE partnership is set to redefine the streaming landscape, bringing the intense and captivating world of professional wrestling to a global audience.
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