Netflix, known primarily for its extensive library of shows and movies, has taken a surprising leap into the sports entertainment arena by securing a groundbreaking deal for WWE’s Monday Night Raw. Despite its previous public denials of interest in sports rights, the streamer had explored bids for sports entertainment through events like The Netflix Cup. And the streaming giant has now ventured into sports entertainment by successfully acquiring the rights for WWE’s flagship program.
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Netflix Secures Rights For WWE’s Monday Night Raw
As per Deadline, Netflix has successfully secured rights for the WWE’s Monday Night Raw under a 10-year deal worth over $5 billion. The streamer has also gained access to additional weekly shows like SmackDown and NXT.
Under the deal, it will also become the exclusive streaming platform for WWE’s live events, such as WrestleMania, SummerSlam, and Royal Rumble. Additionally, the streaming giant will produce original content such as WWE documentaries, series, and upcoming projects on demand outside the United States.
Domestic rights will continue to remain with Peacock. The streamer has attained the exclusive rights for Raw in the U.S., Canada, UK, and Latin America, beginning in January. A potential expansion is expected with the addition of more territories over time.
The significant shift in Netflix’s strategy towards live sports follows the recent WWE merger with Endeavor’s UFC in TKO Group Holdings. Mark Shapiro, TKO President and COO, has described the deal as “transformative“, emphasizing that it will expand the reach of WWE and will bring weekly live appointment viewing to the streaming platform.
Netflix And WWE’s Transformative Deal
Mark Shapiro, the President of TKO Group Holdings, highlighted the unmatched appeal of WWE’s content with the streaming platform’s global reach, stating that it will ensure “significant and predictable economics for many years.” Bela Bajaria, Netflix’s Chief Content Officer, also emphasized the value this collaboration would bring to audiences.
The report also notes that WWE President Nick Khan has long regarded the streamer as a potential partner. With this exclusive deal now in place, he praised the streaming giant’s storytelling track record, saying, “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.”
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Netflix has been exploring live programming and sports content for a while. It was in a race for Formula 1 rights before it renewed with ESPN and extended the deal until 2025. In 2023, the streaming giant also aired its first-ever live sports event, The Netflix Cup, featuring athletes from Formula 1 and the PGA Tour. The transformative deal with WWE is expected to solidify its position as a global powerhouse in the ever-evolving world of digital entertainment.
