Netflix, the streaming giant known for its diverse array of entertainment options, is set to make an unprecedented leap into live sports entertainment. In a landmark announcement, Netflix and TKO Group Holdings revealed their plans to stream WWE’s flagship program, “Raw,” starting next year. This deal marks Netflix’s most significant venture into live entertainment, setting the stage for a transformative era in sports media. The partnership, valued at over $5 billion, exemplifies Netflix’s ambition to expand its content horizon and reflects WWE’s strategic move to reach a broader global audience.
The ten-year agreement between Netflix and TKO Group Holdings, the parent company of WWE, will allow Netflix to air “Raw” globally, granting it exclusive rights in key markets including the U.S., Canada, U.K., and Latin America. This arrangement also positions Netflix as the new home for all WWE shows and specials outside the U.S., encompassing titles such as “SmackDown,” “NXT,” “WrestleMania,” “SummerSlam,” and “Royal Rumble.” The announcement sent TKO shares soaring by more than 15%, further buoyed by news of Dwayne Johnson, the actor and wrestling icon, joining its board of directors.
TKO President and Chief Operating Officer Mark Shapiro hailed the deal as a “super game changer,” comparing it to historic shifts in sports media. Shapiro stated, “When you look back at the chapters of sports media history, new chapters are driven by extraordinary new paradigms. […] Raw on Netflix will be a chapter starter when new histories are written.” Netflix’s venture into live programming with “Raw” represents a pivotal moment, given the platform’s previous focus on documentaries and series around sports, without stepping directly into the live broadcasting arena.
For WWE, partnering with Netflix opens the door to an audience of approximately 250 million global subscribers, significantly widening its reach. WWE President Nick Khan emphasized Netflix’s adaptability and willingness to reconsider its strategies, traits that made the streaming service an attractive partner for broadcasting “Raw.” The deal highlights Netflix’s evolving approach to content, including its recent openness to incorporating advertising and tackling password-sharing issues.
According to Shapiro, Netflix’s global influence and marketing prowess were crucial in choosing the streaming service as WWE’s new broadcasting home. This strategic alliance enhances Netflix’s content library and introduces innovative viewing experiences, such as adapting matches around commercial breaks for ad-free customers.
Netflix’s groundbreaking partnership with WWE to stream “Raw” signifies a monumental shift in sports media and entertainment. By entering the realm of live sports entertainment, Netflix diversifies its content offerings and challenges conventional broadcasting paradigms. This collaboration benefits the streaming behemoth and WWE and promises to redefine viewer engagement in the digital age. As Netflix prepares to add this new chapter to its history, the world watches in anticipation of the thrilling possibilities in the intersection of streaming and live sports entertainment.
