WWE’s weekly television show Raw will move to Netflix next year as part of a major streaming deal worth more than $5 billion.
TKO Group Holdings Inc., home of WWE and UFC, said in a regulatory filing on Tuesday that the deal is for 10 years and Netflix has the option to extend it for another 10 years. Netflix also has the option to opt out after the first five years.
Raw, which debuted in 1993, has produced 1,600 episodes to date and has featured wrestlers such as Cody Rhodes, Becky Lynch, Seth Rollins and Rhea Ripley. The three-hour show currently airs on USA Network and its media rights have been considered a hot commodity over the past few months, especially after CM Punk’s return to WWE in November, with many speculating that the show could make its way to any number of networks or streaming platforms. .
“We are excited to have WWE Raw, with its massive, passionate multi-generational fan base, coming to Netflix,” chief content officer Bela Bajaria said in a prepared statement.
WWE said on Tuesday that Raw will stream on Netflix starting in January 2025. This will impact viewers in the US, Canada, UK, Latin America and other regions. WWE said that this situation will affect other countries and regions over time.
“This agreement is transformative,” TKO President and COO Mark Shapiro said in a prepared statement. “This combines the can’t-miss WWE product with Netflix’s extraordinary global reach, locking in significant and predictable economics for many years to come. “Our partnership fundamentally transforms and strengthens the media landscape, significantly expanding WWE’s reach and providing Netflix with weekly live appointment viewing.”
WWE also said that its documentaries, original series and upcoming projects will air internationally on Netflix starting in 2025.
Speaking to CNBC, TKO CEO Ariel Emanuel said he doesn’t believe there’s a shift away from traditional television networks or cable networks, but streaming platforms are becoming another option, as evidenced by the Raw deal with Netflix.
“This is streaming. “For us, this is the next step,” he said.
WWE also announced Tuesday that it had reached a deal with Dwayne “The Rock” Johnson that will give the star the rights to his nickname. Johnson will also join TKO Group’s board of directors.