Netflix has agreed to a $5 billion deal to screen World Wrestling Entertainment’s flagship Raw program over the next decade, in the group’s biggest foray so far into streaming live events.
The streaming service is betting that screening three live programs a week will allow it to capture the large and loyal fan base for a show that helped launch the careers of Dwayne “The Rock” Johnson, John Cena, and “Stone Cold” Steve Austin.
The deal, which starts in January 2025, will significantly expand Netflix’s use of the technology that is required to broadcast live sporting events.
The WWE’s decision to abandon USA Network, where it is the top-rated program, also reflects the economic pressures on traditional cable television operators as more consumers shift to streaming.
The agreement “dramatically expands the reach of WWE and brings weekly live appointment viewing to Netflix,” said Mark Shapiro, president and chief operating officer of WWE owner TKO. “This deal is transformative,” he added. TKO is controlled by Ari Emanuel’s Endeavor group.
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