Netflix's Game-changing $5 Billion Deal With WWE....
Last week Netflix agreed a 10 year deal with WWE Raw to live stream Monday Night Raw every Monday...
The global streaming giant Netflix known for its extensive library of on-demand movies, TV shows, and original programming, has now entered the live streaming arena after acquiring the rights for WWE Raw for $5 billion. As part of the agreement Netflix will become the home for all WWE shows and specials outside the U.S. Netflix has become synonymous with the era of binge-watching. However, it’s clear that they have recognised the evolving demands of viewers and the increasing importance of live content.
WWE Raw is pro-wrestling's most popular weekly show. The programme has been shown on broadcast TV around the world for 31 years. The show is currently the No. 1 show on USA Network, where it brings in 17.5m unique viewers a year in the US. WWE also has a huge social presence with 1 billion followers across various social media platforms.
The deal is interesting because Netflix started experimenting with live streaming only last year when they teamed up with Chris Rock for a hilarious stand up set. Netflix’s first big swing when it comes to live sports programming was The Netflix Cup, an event held in Las Vegas that sees Formula 1 drivers teaming up with PGA Tour pros that see them competing on the golf course doing wacky challenges. Now with this WWE Raw deal, from next year, Netflix will be live streaming every Monday for the next 10 years.
Netflix was amongst many streaming platforms that had put a bid for the WWE Raw rights. Platforms such as Disney+, Amazon Prime etc. also wanted to acquire the rights but WWE Raw decided to go with Netflix due to their reach and multigenerational fan base.
"We believe Netflix, as one of the world's leading entertainment brands, is the ideal long-term home for Raw's live, loyal, and ever-growing fan base." Nick Khan, WWE President
The recent move to secure live streaming rights, especially in collaboration with WWE, is a bold step for Netflix. It signifies the company's intent to diversify its offerings and capture a broader audience that craves the excitement and immediacy of live events. As Netflix ventures into the live streaming arena, this intensifies competition in the streaming space. This allows Netflix to engage viewers in real-time, fostering a sense of community and shared experiences.
This interactivity is a departure from the traditional model of streaming platforms and adds a new layer of engagement for subscribers. We’ve seen the likes of Amazon prime do this with acquiring the broadcast rights of NFL via Thursday Night Football, and 20 live Premier League football matches. Apple TV is also now in the live streaming arena with the Major League Soccer Pass.
As Netflix expands its horizons beyond on-demand content, and WWE leverages the global reach of the streaming giant, the partnership marks a game-changing moment in the entertainment industry. Netflix, a trailblazer in the streaming industry, has been at the forefront of changing how audiences consume content and is now looking to expand their offerings, I wonder what next sport broadcasting rights they’re looking to acquire. Imagine the Premier League on Netflix?