(Newsworthy.news) – Netflix has expanded its services with more live programming, including W.W.E.’s flagship weekly wrestling show, “Raw,” which it has acquired for exclusive rights in a multibillion-dollar, 10-year contract.
According to a joint statement released on Tuesday by Netflix and TKO Group, the parent company of W.W.E., “Raw” will be available on Netflix beginning in January of next year.
According to a regulatory filing by TKO Group, the arrangement will cost Netflix about $5 billion and continue for ten years. After five years, any party can opt out or request an extra ten years.
Hours after the fact, Netflix announced its quarterly profits, claiming to have attracted 13.1 million subscribers—the most significant quarterly rise in the company’s history. There are currently 260 million users on the service.
According to the business, their approach to live events has remained unchanged. In a recent earnings call for the company’s fourth quarter, Netflix co-CEO Ted Sarandos reiterated a view he has previously held regarding the popularity of “the drama of sport” on the streaming service.
After 31 years, the show is still going strong on broadcast television networks all around the globe.
Producers from TKO (the business that emerged from the WWE-UFC merger) have said that Raw will only be available to streamers.
WWE’s weekly broadcasts and live events will also be available to viewers outside the US on the service. The corporation promised pay-per-view events like Royal Rumble, SummerSlam, and WrestleMania.
Live broadcasts of WWE Raw have occurred 1,600 times since the show’s inception, making it an indispensable resource for wrestling fans interested in following current events.
According to executives, WWE has 17.5 million weekly viewers in the US and 1 billion followers on different social media channels.
More and more, the streaming business is prioritizing sports. Peacock, for example, has built its business model around streaming live sports events and just aired a National Football League playoff game. By adding “Raw” to its repertoire, Netflix strengthens its position in the market. Since 2022, Thursday night NFL games have been streamed on Amazon Prime. Apple has inked a $250 million annual contract with Major League Soccer and another arrangement with Major League Baseball.
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