Netflix To Stream WWE Raw In $5 Billion Bet On Live Events
Omos (black pants) and Brock Lesnar (black shorts) during Wrestlemania Night 2 at SoFi Stadium. Mandatory Credit: Joe Camporeale-USA TODAY Sports/files Netflix (NFLX.O) took a big step into live events on Tuesday with a more than $5 billion rights deal that would make it the exclusive home of World Wrestling Entertainment’s Raw from January 2025. The 10-year partnership will put Raw on the streaming platform in the U.S., Canada, Britain and Latin America, among other territories, the companies said. Netflix will also exclusively telecast outside the U.S. all WWE shows and specials, including SmackDown, as well as pay-per-view live events such as WrestleMania and Royal Rumble. News of the deal sent shares of TKO Group Holdings (TKO.N), the parent firm of WWE, up 21% in early trading. Shares of Netflix were flat. The streaming pioneer has an option to extend the deal for another 10 years or to opt out after the initial five years. Netflix began experimenting with live events las...