Netflix’s approach to live sports just switched from feet-dangling to a full-on body slam.
Seemingly out of the blue, Netflix has grabbed exclusive rights to Raw, the flagship WWE show that’s been a staple of basic cable for more than 30 years.
The weekly Raw show will stream live on Netflix starting in January 2025 as part of a 10-year deal that’s said to be worth a whopping $500 million a year.
The deal also includes other WWE weekly shows and special events, including SmackDown, NXT, WrestleMania, SummerSlam, and Royal Rumble.
Netflix’s $5 billion deal for all things WWE is a whopper of a streaming sports deal, although it’s not the biggest. Amazon likely holds that distinction, with Prime Video’s rights to Thursday Night Football estimated to be worth about $10 billion over 10 years.
Still, it’s a bold move for Netflix, which—up until now, at least—has been surprisingly tentative when it comes to live sports, or even live streaming in general.
Netflix teed up its first live sports event just two months ago, and it was only a celebrity golf tournament.
Prior to that event, Netflix has just a few scant live streaming events under its belt, including Chris Rock’s Selective Outrage comedy special back in March 2023.
Netflix tried again a month after Rock’s special with its now-infamous Love Is Blind live reunion, which didn’t stream live due to an embarrassing technical glitch. Instead, Love is Blind fans had to settle for a pre-recorded show.
In the meantime, Netflix’s competitors were forging ahead with a wide variety of streaming sports. Besides Amazon Prime Video and its massive NFL deal, there’s Apple TV with Major League Soccer and Friday Night Baseball, not to mention the Olympic Games on Peacock.
Last fall, Max made waves with its Bleacher Report Sports Add-On, a package that includes MLB, NHL, NBA, NCAA March Madness, and U.S. Soccer action for an additional $10-a-month fee.
Following the Love is Blind debacle, some wondered if Netflix was content to cede the live-streaming arena to the competition, while instead pursing its gaming strategy and maintaining its overall streaming lead.
But last November’s “The Netflix Cup” celebrity golf tournament signaled that Netflix was still testing the waters in terms of live sports, and with its giant WWE “Raw” deal, Netflix had jumped in the live-streaming ring with gusto.
