March 2, 2024

Netflix Secures A 10-Year Deal Worth Over $5 Billion With WWE RAW

Streaming giant Netflix has secured a 10-year deal worth over $5 billion with popular wrestling show, WWE Raw. This deal is the largest one made by the platform in live streaming. It also comes as Netflix is rushing to increase subscriber numbers and grow interest in the sports entertainment industry.

The streaming giant announced this deal while releasing its financial results for the fourth quarter of 2023. Netflix’s earnings during the quarter were commendable, with the revenues increasing by 12% compared to last year.

Netflix Ventures into Sports with WWE Deal

The deal between Netflix and WWE comes as the streaming giant seeks to outperform its competitors. US consumers have been deviating from streaming platforms amid increased costs. A report by the Wall Street Journal showed that more US consumers were canceling streaming subscriptions to foot other bills.

Netflix’s deal with WWE Raw shows that the company seeks to expand its content offerings and partnerships with leading brands. The deal will also see the streaming giant appeal to the vast audience of live sports fans.

The 10-year partnership deal with Raw will see the streaming giant air wrestling content in Britain, Canada, Latin America, and the US. The company also plans to expand its offerings into other regions over time.

The WWE wrestling content will start airing on Netflix in 2025. The streaming company will also telecast its offerings exclusively outside the US. Some of the wrestling content to be aired includes all WWE shows and specials such as SmackDown and pay-per-view live events, including Royal Rumble and WrestleMania.

The deal saw Netflix shares gain significantly after its announcement. Netflix and WWE also have an option to extend the duration of this deal for another ten years or opt-out after the first five years.

Netflix’s Entry into Live Sports

Netflix started experimenting with live events in 2023. During the year, comedian Chris Rock aired a live stand-up special on the streaming platform dubbed “Selective Outrage.” The streaming platform also aired the “Drive to Survive” Formula 1 racing documentary series, which also amassed much interest.

In March, Netflix will air “The Netflix Slam” to appeal to streaming fans. These efforts are in a bid to bring more subscribers to its platform. It will also boost the company’s competitive edge against streaming giants like Disney and Amazon.

The TKO President and COO, Mark Shapiro, noted that the partnership would strengthen the media industry to expand WWE’s reach. It will also bring the weekly live appointment viewing to Netflix.

“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,” said Beja Bajaria, chief content officer at Netflix.

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.

Netflix Reaches 260 Million Subscribers

Netflix posted strong growth in subscriber numbers during the last quarter of 2023. The number of new subscribers increased by 13 million to reach 260 million globally.

The growth comes amid new content on Netflix and the launch of the advertising tier that lowered streaming costs for subscribers.


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