Updated January 23rd, 2024 at 19:23 IST
Netflix strikes $5 billion deal for WWE Raw rights
The deal marks a major shift for WWE as the 1993-debuted show leaves TV for the first time.
From TV to Streaming: In a leap for live events on its platform, US Streaming giant Netflix has acquired the rights for World Wrestling Entertainment's Raw, in a $5 billion deal.
As part of the 10-year partnership starting January 2025, viewers in the United States, United Kingdom, Canada and Latin America will be able to stream the program, among other territories, the companies said.
WWE Raw is the Monday night professional wrestling television program for World Wrestling Entertainment (WWE), as well as the primary broadcast of the RAW brand.
Generally seen as WWE's flagship program over its sister programs, SmackDown! and ECW, the program has a longer history as it debuted in 1993 and has over 1,600 episodes.
The deal will also have Netflix exclusively telecasting outside the US all WWE shows and specials, including SmackDown, and pay-per-view live events such as WrestleMania and Royal Rumble.
The deal marks a major shift for the wrestling entertainment promotion as Raw, which had 1,600 episodes, leaves linear television for the first time since its inception.
WWE merged with UFC parent Endeavour Group to form TKO Group Holdings in a deal valued at $21 billion last year, forming one of the biggest names in wrestling and entertainment.
Shares of the streaming company rose 3 per cent in premarket trading. The shares of WWE’s parent company TKO Group also saw a rise of nearly 16 per cent.
In the recent years, Netflix has been keen on live events. The streaming company secured rights for streaming a tennis match between Rafael Nadal and Carlos Alcaraz in December.
In November, the company had streamed a celebrity golf tournament featuring Formula One drivers and golfers.
Published January 23rd, 2024 at 19:23 IST