WWE announces major streaming deal with Netflix

WWE’s flagship weekly program “Raw” will have a new home in 2025.

WWE and parent company TKO Group Holdings, Inc. announced on Tuesday that “Raw” is moving to Netflix in January 2025. The streaming deal is worth $5 billion over 10 years, according to multiple reports.

Netflix will have the option to extend the deal for 10 additional years and will also have the right to opt out after the first five years.

Outside of the United States, all WWE shows like “Smackdown” and “NXT” as well as premium live events will also move to Netflix. NBCUniversal’s Peacock currently has the rights to those weekly shows and live events in the U.S., but that could change in the future.

The move to Netflix marks the first time in the 31-year history of “Raw” that the program will be carried on a streaming service rather than linear television. It currently airs on USA Network.

TKO CEO Ariel Emanuel said during an interview on CNBC Tuesday that there is no plan for WWE to move away from cable TV networks entirely but that a streaming deal for “Raw” was “the next step.”

Netflix hosted its first ever live sports event in October, which was a golf event called “The Netflix Cup.” The event featured athletes from the streaming giant’s successful racing documentary series “Drive to Survive” and golf docuseries “Full Swing.”