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Beginning January 2025, WWE Raw will be available on the streaming platform Netflix. This deal, which is to be ten-year agreement, was announced on Tuesday. The deal sizes up to a massive $5 billion over the course of the next 10 years. Reportedly, Netflix CEO Greg Peters is quite happy with the arrangement.
Peters highlighted several reasons for his excitement about the partnership while speaking to Stratechery, emphasizing the alignment between WWE and Netflix in storytelling around sports. He cited examples like “Drive to Survive,” “Break Point,” and “Full Swing” as indicative of Netflix’s focus on dramatic sports narratives.
We love this deal for a whole variety of reasons. One is that the one you mentioned, which we think that this is quite close to what we do. We think we are in the business of telling dramatic stories around sports. You’ve seen it with Drive to Survive or Break Point, Full Swing.
According to the SEC filing, the agreement is for ten year. However, Netflix has the option to opt out of the deal after five years, or if everything goes well, extend the deal for an additional ten years. Peters shared his thoughts on this arrangement as well.
We were able to negotiate reasonable optionality in that regard, which we like, because it gives us a little bit of room to learn and also to extend if we like where it’s going.
This definitely sounds like incredible news for wrestling fans. After all, Raw being on Netflix will bring wrestling to a wider and more mainstream audience. The deal is estimated to be about $400 million annually, which is a tremendous deal of business for WWE.
What do you think of this new deal? Do you think it will have a positive impact on the viewership? Let us know in the comments!
January 27, 2024 12:26 pm
