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Netflix is spending $5 billion to buy WWE Raw programming rights

Netflix is spending $5 billion to buy WWE Raw programming rights

Netflix, the titan of streaming entertainment, has made a groundbreaking move in the world of sports and entertainment. In an unprecedented deal, Netflix has committed a staggering $5 billion to secure the programming rights for WWE Raw, shaking the foundations of traditional television broadcasting and marking a significant shift in the landscape of sports entertainment.

The Historic Deal

The collaboration between WWE, a subsidiary of TKO Group Holdings, Inc. (NYSE: TKO), and Netflix (NASDAQ: NFLX) signifies a revolutionary partnership. This arrangement will see WWE’s flagship program, Raw, transitioning from linear television, where it has been a mainstay for over three decades, to the global streaming giant, Netflix.

Starting January 2025, Netflix will become the exclusive broadcaster of Raw in multiple territories including the U.S., Canada, U.K., and Latin America, with plans to expand to other regions. This deal also encompasses all WWE shows and specials outside the U.S., including SmackDown, NXT, and major events like WrestleMania, SummerSlam, and Royal Rumble. Adding to this, Netflix will host WWE’s award-winning documentaries, original series, and upcoming projects internationally from 2025.

Netflix is spending $5 billion to buy WWE Raw programming rights
Netflix is spending $5 billion to buy WWE Raw programming rights

Implications of the Deal

Mark Shapiro, TKO’s President and COO, describes the deal as “transformative”, highlighting the significant impact it will have on the media landscape. He emphasizes the fusion of WWE’s “can’t-miss” content with Netflix’s unparalleled global reach, ensuring stable and substantial economic benefits for years to come. This partnership not only revolutionizes WWE’s distribution but also introduces weekly live viewing to Netflix’s offerings.

Bela Bajaria, Netflix’s Chief Content Officer, expresses excitement over bringing WWE Raw, known for its vast and passionate fan base, to Netflix. She anticipates that combining Netflix’s reach and recommendations with WWE’s fanbase will enhance joy and value for audiences globally. The unique blend of sports, entertainment, and live action that Raw offers weekly aligns perfectly with Netflix’s content strategy.

Nick Khan, WWE President, acknowledges Netflix’s remarkable storytelling capabilities, deeming it the ideal platform for Raw’s dedicated and growing audience.

WWE Raw: A Cultural Phenomenon

With over 1,600 episodes since its 1993 debut, Raw has become an iconic fixture in sports entertainment, known for its blend of action, drama, and athleticism. It has been instrumental in launching the careers of legendary figures like Dwayne “The Rock” Johnson, “Stone Cold” Steve Austin, and John Cena.

Currently the top-rated show on USA Network, Raw attracts 17.5 million unique viewers annually and consistently performs well in the coveted 18-49 advertising demographic. Its social media presence is formidable, with WWE boasting over a billion followers across various platforms.

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