- Judith Akatugba
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For their largest foray into live events so far, Netflix and Wrestling Entertainment (WWE) have inked a $5 billion (£3.9 billion) contract to stream the company’s main wrestling show.
He claims that beginning in January of 2025, WWE’s weekly Raw broadcast will be available on Netflix.
Raw will reportedly be available on the streaming platform across Latin America, the US, Canada, and the UK as part of the 10-year partnership, among other places.
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Furthermore, outside of the US, Netflix will exclusively stream WWE specials and programs (like SmackDown) as well as pay-per-view live events (like WrestleMania and Royal Rumble).
After the initial five years of the arrangement, the streaming pioneer has the option to end it or extend it for another ten years.
Last year, with the release of “Selective Outrage,” comedian Chris Rock’s stand-up special, Netflix ventured into live events.
“Drive to Survive,” a documentary series on Formula 1 racing, and “Full Swing,” a documentary series about the making of a golf game, are two examples of its successful sports programmes.
Athletes from “Full Swing” and “Drive to Survive” competed in “The Netflix Cup,” the streaming service’s inaugural live sporting event, in October.
The third-quarter investor letter suggested more was on the way, marking a departure from CEO Ted Sarandos’s long-standing stance that Netflix was “in the sports business,” concentrating on the drama of sports rather than live events.
“As we strive to create the optimal programming blend for our subscribers, we’re also experiencing tremendous success with our sports shoulder programming, solidifying Netflix as the premier destination for individuals captivated by the drama of sports,” the company stated in its report regarding the third quarter.
It’s yet another area where our members, rights holders, and talent may reap tremendous benefits.
Reuters quoted Mark Shapiro as saying, “Threaded the needle perfectly” when describing Netflix’s live sports content as having “a spine of entertainment.”
An audience that spans generations watches WWE matches weekly, and the Raw contract is Netflix’s first long-term investment in live events that appeal to this demographic. The tournament does not follow a seasonal pattern like other professional sports.
According to Shapiro, the transaction is “transformative,” as it delivers appointment viewing to Netflix while also increasing WWE’s reach.
“Netflix was our key,” Shapiro declared. “We’re now neighbors with the most exquisite slate of premium programming that the content universe has to offer.”
The most popular program on the USA Network, which is owned by Comcast, is Raw, which airs every Monday and attracts 17.5 million viewers annually. There are 1,600 episodes total, and it premiered in 1993.
It consistently attracts viewers, which is useful for Netflix’s ad-supported streaming service, or AVOD as it’s formally known in the industry.
According to Shapiro, this will have a significant influence on their AVOD platform.
According to Bloomberg News, Raw was paid approximately $265 million per annum for the rights under the pact, which expires this year.
In a $21 billion merger last year, WWE and UFC, owned by Endeavor Group, merged to become TKO Group Holdings, creating a powerhouse in the wrestling and entertainment industries.
