There’s a new tag team in town hoping to take over the world of professional wrestling. WWE and Netflix are joining forces, stepping in the ring together for a 10-year streaming deal for WWE’s flagship television show, “Raw.”
After a 31-year relationship with linear TV, “Raw” will begin streaming on Netflix in January 2025. The show currently attracts more than 2 million viewers each week on the USA Network, according to TKO, WWE’s parent company.
Netflix has its sights set on being the head of the table when it comes to live-streamed content. The WWE programming follows last year’s Chris Rock special and its first live sporting event, the Netflix Cup golf tournament (the “Love is Blind” live reunion flop doesn’t make the cut, since Netflix failed to stream it live after agonizing technical difficulties).
In addition to streaming the weekly appointment TV of “Raw,” the Netflix deal also includes streaming all of WWE’s other offerings outside the U.S., including “SmackDown,” “NXT” and live premium events like the “Royal Rumble” and “Wrestlemania.”
The brass tacks
The WWE-Netflix deal is valued at more than $5 billion, according to a filing by TKO, the company formed with the WWE-UFC merger. That is nearly double the annual value of WWE’s current deal with NBCUniversal.
Netflix’s rights last for 10 years but the streaming giant has the option to extend the agreement for another 10 years if it doesn’t want the ride to end. On the other side, if it’s a subscriber flop, Netflix can opt-out after the first five years.
In other news
As if a major streaming deal wasn’t enough, TKO announced Dwayne “The Rock” Johnson is joining its board of directors and taking a more direct role in promoting the brand.
TKO will pay Johnson $30 million in stock. Johnson is also gaining full ownership of his trademarked wrestling moniker, “The Rock.” That will allow the wrestling-giant-turned-Hollywood-A-lister to earn more money off his name, image and likeness.
As for what’s next for the People’s Champ, the wrestling world is on the edge of its seat for a potential family feud between TKO’s newest board member and his “cousin,” Roman Reigns.
