Netflix Strikes Groundbreaking Deal with WWE to Stream ‘Monday Night Raw’ and More
In a groundbreaking move, Netflix has announced a long-term deal with the WWE to broadcast its flagship weekly show, Monday Night Raw. This marks the first time that Monday Night Raw, which has been the top-rated program on NBCUniversal’s USA Network for 31 years, will be leaving traditional linear television. The deal also extends beyond the US, with Netflix obtaining the rights to WWE shows like SmackDown and NXT, as well as monthly premium live events such as WrestleMania, SummerSlam, and the Royal Rumble.
While NBCUniversal’s Peacock service will continue to hold the rights to these premium live events in the US for now, Netflix’s deal for Raw covers the US, Canada, UK, and Latin America, with plans to expand to additional countries and regions over time. Although the official terms of the deal were not disclosed, Deadline reports that it is a 10-year agreement costing Netflix over $5 billion.
Netflix’s foray into live broadcasts has been steadily growing over the past year. The company’s livestreaming efforts initially faced challenges but have since improved with subsequent events. The unexpected announcement of the deal with WWE comes at a crucial time for Netflix, as it faces increased competition, price hikes, and a focus on its ad-supported streaming offerings.
The production of WWE shows, including Raw, is handled in-house by the company itself. This means that Netflix will only need to stream the feed provided by WWE. While Amazon and Warner Bros. Discovery were previously rumored as potential new homes for Monday Night Raw, Netflix’s emergence as the streaming partner was unexpected.
For WWE and its parent company TKO, the Netflix deal represents a deeper dive into the world of streaming. Prior to moving its content to Peacock, WWE operated its own streaming service called WWE Network, which offered 24/7 linear programming and access to the company’s extensive library of past shows and pay-per-view events. The WWE Network remains available internationally.
Netflix’s Chief Content Officer, Bela Bajaria, expressed excitement about the partnership, stating, “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. 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.”
The announcement of the Netflix-WWE deal comes just hours before Netflix’s next earnings call. As the streaming giant faces challenges in an increasingly competitive market, this groundbreaking partnership with WWE showcases Netflix’s commitment to providing diverse and engaging content for its global audience.
Disclaimer: Comcast, the owner of NBCUniversal, is also an investor in Vox Media, the parent company of The Verge. Additionally, The Verge recently collaborated with Netflix on a series.
