Streaming giant Netflix finalized a deal with World Wrestling Entertainment (WWE) on Tuesday to provide exclusive coverage for its flagship wrestling show “Raw” beginning in 2025. The 10-year, $5 billion contract furthers Netflix’s ambitions of expanding its live entertainment offerings, attracting a new wave of advertisers and subscribers to the platform.
According to a statement from TKO Group Holdings Inc., the company that houses the WWE and the Ultimate Fighting Championship (UFC), this new deal “marks a major programming shift as Raw leaves linear television for the first time since its inception 31 years ago.”
Beginning in January 2025, Netflix will be the exclusive home of “Raw” in the US, Canada, UK, and Latin America, and will have a library of the show’s 1,600 past episodes. The streaming platform will also provide international coverage of other weekly WWE content like “SmackDown” and premium annual events like “WrestleMania.”
Learn the benefits of becoming a Valuetainment Member and subscribe today!
“We are excited to have WWE Raw, with its huge and passionate multigenerational fan base, on Netflix,” said Netflix Chief Content Officer, Bela Bajaria. “By combining our reach, recommendations, and fandom with WWE, we’ll be able to deliver more joy and value for their audiences and our members. Raw is the best of sports entertainment, blending great characters and storytelling with live action 52 weeks a year and we’re thrilled to be in this long-term partnership with WWE.”
According to the terms of the contract, made public in regulatory filings from TKO on Tuesday, Netflix will pay a total of $5 billion for 10 years of exclusivity, with an option to renew at the end of that time and an option to opt out after the first five.
Related: Netflix Resumes Advertising on X After Antisemitism Boycott
Despite the hefty price tag associated with the contract, Netflix’s move into live entertainment—which also includes the reality show “Love Is Blind,” a selection of comedy specials and documentaries, and next month’s Screen Actors Guild Awards—has been unexpectedly profitable for the company. In its latest earnings call, Netflix reported 13.1 million new subscribers in the fourth quarter, up from 7.7 million in the same quarter last year.
With live sporting events added to its content library, Netflix is now in a position to compete with rivals like NBC’s Peacock, which broadcasts live NFL games, and Apple TV, which covers Major League Baseball and Soccer.
After the announcement, shares in TKO Group Holdings jumped by 19 percent in morning trading on Tuesday.
Connor Walcott is a staff writer for Valuetainment.com. Follow Connor on X (Twitter) and look for him on VT’s “The Unusual Suspects.”
Add comment