Streaming pioneer Netflix took an enormous step into dwell occasions on Tuesday with a greater than US$5 billion rights deal that may make it the unique dwelling of World Wrestling Entertainment‘s Raw beginning January 2025.
The 10-year partnership will see Raw on the streaming platform within the United States, Canada, United Kingdom and Latin America, amongst different territories, the businesses mentioned.
Netflix can even solely telecast exterior the U.S. all WWE exhibits and specials, together with SmackDown, in addition to pay-per-view dwell occasions comparable to WrestleMania and Royal Rumble.
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Shares of Netflix rose 3 per cent in premarket buying and selling, whereas TKO Group — the mother or father firm of WWE — jumped almost 16 per cent.
Netflix has lately been eager on dwell occasions. It secured rights to a tennis face-off between Rafael Nadal and Carlos Alcaraz final month and had streamed a celeb golf event in November that includes Formula One drivers and golfers.
The deal marks a significant shift for WWE as Raw, which debuted in 1993 and has 1,600 episodes, leaves linear tv for the primary time since its inception.
WWE merged with UFC mother or father Endeavour Group to type TKO Group Holdings in a deal valued at US$21 billion final yr, forming one of many greatest names in wrestling and leisure.