Netflix Inc. has become the owner of the exclusive rights to Raw and other programming from World Wrestling Entertainment (WWE), which is the first major step by the media industry giant towards live streaming of events.
The mentioned company, whose ownership structure includes a popular digital platform for watching TV series, feature films, TV shows, and other content, has agreed to pay $5 billion as part of the deal, designed for 10 years. The relevant information was published by the media with reference to insiders who are aware of the details of this business agreement. The informants referred to by the journalists used the right of anonymity, noting that the specified data is confidential.
The streaming giant will begin live Raw in January 2025. The relevant content will be available to customers of the digital platform who reside in Canada, the United States, and Latin America. The broadcasts will be launched after the expiration of WWE’s domestic deal with Comcast Corp.
Netflix will also become the exclusive home outside the US for all WWE shows and specials, including Smackdown and NXT, pay-per-view live events like Wrestlemania, SummerSlam, and Royal Rumble.
The share price of TKO Group Holdings Inc., which owns WWE, showed a 21% increase at the premarket in New York amid news that the streaming giant has acquired exclusive rights to Raw.
Netflix has committed to offering users three hours of live wrestling coverage per week starting next January. The company anticipates that the deal will contribute to gaining millions of WWE viewers and will be the impetus for its fledgling advertising-supported plan.
Over the past year, Netflix has been actively involved in live broadcasts. The comedy series was broadcast live on the company’s digital platform. Netflix customers were also allowed to watch golf matches in real-time.
WWE has become the latest major live event to shift from cable TV to streaming.
Netflix Chief Content Officer Bela Bajaria said that by combining the reach of this company, its recommendations, and its fandom with WWE, subscribers will be given more joy and value. The streaming giant has also licensed the rights to WWE documentaries and original series.
As we have reported earlier, Netflix Tests Its Games on TVs and Computers.
