Netflix Breaks New Ground with Global Streaming Rights for WWE ‘Raw’

Netflix and TKO Group Holdings announced a groundbreaking 10-year deal valued at over $5 billion, marking Netflix’s entry into live sports programming. Under the agreement, starting next year, Netflix will exclusively stream WWE’s flagship program “Raw” in the U.S., Canada, U.K., and Latin America. This marks Netflix’s first major venture into live sports and includes an option to exit after five years, with a possible extension for another decade.

In a strategic move, Netflix secures global streaming rights for “Raw” and becomes the exclusive home for all WWE shows and specials outside the U.S., including SmackDown, NXT, WrestleMania, SummerSlam, and Royal Rumble. TKO Group Holdings, the parent company of WWE, experienced a significant stock surge of over 20% in premarket trading.

Additionally, Hollywood star Dwayne Johnson’s announcement to join TKO’s board of directors added to the positive momentum, contributing to a 1% increase in Netflix shares. The deal positions Netflix to explore WWE intellectual property for potential documentary-type series or movies. Netflix’s extensive global reach, with approximately 250 million subscribers, was a key factor in WWE’s decision to choose the streaming giant over other media companies.

Mark Shapiro, TKO’s President and COO, described the partnership as a “super game changer” in sports media history, comparing it to landmark moments like ESPN and Turner bringing NFL to cable. The move aligns with Netflix’s recent forays into sports, including documentary series on Formula 1 and various sports. While “Raw” is currently the top program on USA Network, TKO and Netflix believe the streaming platform’s proven technological capabilities, evidenced by Amazon and Peacock’s successful sports streaming, will ensure a seamless experience for viewers.