W.W.E. Raw is an exciting wrestling extravaganza and now, Netflix wants a piece of the action. The streamer has laid down $5 million to stream the live show.
In January 2025, W.W.E.’s Raw will move to Netflix as part of a 10-year agreement. The streamer will also own the rights to stream other W.W.E. shows and specials outside the US. The deal comes with an option to extend an additional 10 years or opt-out after 5.
Netflix’s chief content officer, Bela Bajaria, stated that by combining Netflix’s “reach, recommendations, and fandom with W.W.E., we’ll be able to deliver more joy and value for their audiences and our members”.
Ted Sarandos, co-chief executive for Netflix, said “W.W.E. is sports entertainment, which is right in the sweet spot of our sports business, the drama of sport… it feeds our desire to expand our live entertainment programming. This should also add some fuel to our new and growing ad business”.
This live sporting event addition will make Netflix more competitive with rivals like Peacock, Amazon Prime, and Apple (who has signed a $250 million-per-year deal with Major League Soccer and an additional pact with Major League Baseball).
“The W.W.E. and Netflix partnership is a big deal,” said analyst Mike Proulx. For years, company executives vowed that Netflix would never feature advertising. However, in 2023, the streamer began offering a cheaper ad-supported subscription option. Netflix reports that its ad plan accounts for 40% of all new subscription plans. Revenue last quarter rose 12% to $8.8 billion.
“Make no mistake, Netflix’s about-face on live sports is all about advertising as the company doubles down on wooing big brands to, instead, spend their TV budgets on Netflix’s growing addressable audience,” Mr. Proulx said.
Analyst Scott Purdy claims that more deals like these are likely as the streaming business matures in the US: “Media rights are extremely attractive to streaming companies because you have a guaranteed audience who want to watch the big game, match or event,” he said. “This will undoubtedly impact how much content budget is allocated to live sports versus other content options.”
‘Raw’ which boasts famous wrestlers like Stone Cold Steve Austin, John Cena, and Dwayne (The Rock) Johnson, debuted in 1993. Currently, it airs on the US Network, where it draws 17.5 million viewers.
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