Netflix has inked a monumental $5 billion (€4.6 billion) agreement to broadcast World Wrestling Entertainment’s (WWE) premier Raw program for the next decade. This marks the streaming giant’s most significant venture into live event streaming to date.
The streaming platform is placing a strategic bet on broadcasting three live programs each week, aiming to seize the expansive and devoted fan following of a show that played a pivotal role in propelling the careers of iconic figures such as Dwayne “The Rock” Johnson, John Cena, and “Stone Cold” Steve Austin.
Commencing in January 2025, the agreement will markedly broaden Netflix’s utilization of the necessary technology for live sports event broadcasting.
The WWE’s choice to depart from the USA Network, where it holds the top-rated program status, underscores the economic challenges faced by traditional cable television operators amid a growing shift of consumers towards streaming services.
As part of the agreement, Netflix will gain the streaming rights for all WWE programs outside the United States, encompassing SmackDown and WrestleMania.
Netflix executives have consistently downplayed any inclination towards engaging in live sports agreements, despite the emergence of rival streaming services such as Apple and Amazon venturing into the broadcasting of professional sports as a means to draw in subscribers.
During an investment conference in December, Netflix Co-Chief Executive Ted Sarandos mentioned that the company has carved out a niche in “sports adjacent drama.” He cited examples like documentaries on Formula One, tennis, and a recent series centered around former England footballer David Beckham.
“Where we can really differentiate and outcompete everybody is in the storytelling of sports, the drama of sports,” he said.
Netflix has been working to improve its ability to livestream, which could allow it to show a broader range of programming, from live news and awards ceremonies to stand-up comedy and sports.
Last year, the company began experimenting with a special by the comedian Chris Rock and it intends to stream a live exhibition tennis match between Rafael Nadal and Carlos Alcaraz in March.
Mr. Shapiro expressed confidence that any technical challenges associated with livestreaming would be resolved by the time the agreement takes effect next January. He stated, “We’ve got an entire year to make sure we’ve got it right.”
Mark Shapiro, president and chief operating officer of WWE owner TKO, emphasized that the agreement “dramatically expands the reach of WWE and brings weekly live appointment viewing to Netflix.” Describing the deal as transformative, he added, “TKO is controlled by Ari Emanuel’s Endeavor group.”
Additionally, the companies are likely to collaborate on developing documentaries based on WWE, aiming to broaden its appeal, according to Mr. Shapiro.
“They’ve [Netflix] made a real following out of the documentaries they do on various sports,” he told the Financial Times. “You can expect that over the course of this deal we will look to do a documentary on the characters and superstars of WWE.” – Copyright The Financial Times Limited 2024
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Benefits for Netflix Subscribers
For Netflix subscribers, the deal translates into an enriched content library. The inclusion of WWE’s Raw Show adds a new dimension to the streaming platform, catering to a diverse audience with varied interests. This move aligns with Netflix’s commitment to providing a wide range of content options for its users.
Netflix subscribers can now revel in an expanded content reservoir following a recent collaboration. The incorporation of WWE’s Raw Show not only diversifies the streaming platform’s offerings but also broadens its appeal to a varied audience with distinct interests. This strategic move is in line with Netflix’s steadfast dedication to furnishing a diverse array of content options, underscoring its commitment to meeting the multifaceted preferences of its user base.
The addition of WWE’s Raw Show introduces a new facet to Netflix’s already extensive library, enhancing the entertainment experience for subscribers who can now enjoy a broader spectrum of content. This aligns seamlessly with Netflix’s overarching mission to be a one-stop destination for a wide range of entertainment, ensuring that users can find compelling and varied content that resonates with their unique tastes.
As Netflix continues to evolve its content portfolio, this collaboration exemplifies the platform’s ongoing efforts to stay ahead in the competitive streaming landscape by consistently offering fresh and appealing content choices.
Impact on WWE Network
The partnership also raises questions about the future of WWE Network, WWE’s own streaming platform. Changes in viewer patterns may impact the platform’s subscription numbers, prompting WWE to reassess its digital strategy.
The collaboration sparks speculation about WWE Network’s future, WWE’s proprietary streaming platform. Shifting viewer behavior might influence subscription figures, compelling WWE to reevaluate its digital approach. As the partnership with Netflix unfolds, the potential impact on WWE Network’s subscriber base becomes a focal point.
The evolving landscape of streaming services and audience preferences prompts WWE to consider strategic adjustments to maintain competitiveness and adapt to changing market dynamics. This development underscores the broader industry trends where content providers navigate a dynamic digital landscape, necessitating continuous evaluation and adaptation of business strategies to stay relevant and resilient in the face of evolving consumer behaviors.
FAQs
How much is the WWE Netflix deal worth?
Raw, which debuted in 1993, has produced 1,600 episodes to date. WWE’s weekly television show Raw will move to Netflix next year as part of a major streaming deal worth more than $5 billion.
Did Netflix buy WWE?
WWE represents an appetizing foray into live sports for Netflix. So while it’s natural to wonder why Netflix decided to buy the rights to WWE, it’s also worth asking why WWE chose Netflix. That’s because ad-tier or not, it can offer an immediate audience like virtually no other streamer.
Will WWE be live on Netflix?
Netflix has struck an exclusive deal to bring WWE’s flagship program Raw and other live shows and events to subscribers starting in January 2025, the streaming service said Tuesday
Who owns the WWE app?
Waze is a community-driven navigation map app that was acquired by Google (GOOG) in 2013. It is now a subsidiary of Alphabet, Google’s parent company. Waze updates its users on the go to avoid traffic snarls, see where other users are on the road, and get recommendations on nearby restaurants and other amenities
Conclusion
Netflix’s $5 billion deal to livestream WWE’s Raw Show represents a pivotal moment in the streaming industry. The collaboration not only highlights Netflix’s strategic shift toward live sports content but also opens up new possibilities for WWE’s global reach and audience engagement. As the streaming wars intensify, this partnership sets the stage for further disruptions and innovations in the ever-expanding world of digital entertainment.
