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January 24, 2024

WWE inks $5B deal with Netflix

Photo: Business Wire Some of WWE's top on-air talent help break ground for the company's new Orlando, Fla., training facility in 2013. Left to right: Mason Ryan, Paul "Triple H" Levesque and Conor O'Brian.
By Skyler Frazer

Stamford-based World Wrestling Entertainment’s (WWE) flagship weekly program, Raw, is coming to Netflix in 2025 as part of a more than $5 billion deal, the company and its parent organization announced this week.

Beginning January 2025, WWE’s weekly show Raw will be on streaming service Netflix in the U.S., Canada, U.K., Latin America, and other territories. The show currently airs on the USA Network and is the channel’s highest-rated show, according to the company. 2025 will mark the first time in the show’s 31-year history that it won’t be available on cable.

WWE’s parent company TKO Group Holdings Inc., which also owns mixed martial arts organization Ultimate Fighting Championship (UFC), said in a January 2023 filing with the U.S. Securities and Exchange Commission (SEC) that the deal is for 10 years and worth more than $5 billion. 

The agreement has an option for Netflix to extend the deal for another 10 years and for WWE to opt out of the agreement after the initial five years, according to TKO’s SEC filing.

Outside of the United States, WWE’s other shows and specials will also be on Netflix in 2025.

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