Netflix co-CEO Greg Peters recently opened up about the deal between the streaming platform and WWE, which will see Netflix host WWE’s Monday Night RAW beginning in 2025.
Speaking to Stratechery, Peters was asked about the deal the two companies agreed to, which sees Netflix have an option to back out of the contract after five years, but also extend the contract to 10 years should they be satisfied. Peters thinks the deal is reflective of the value Netflix brings to WWE, as well as the value WWE could bring to the streamer.
“Yeah. Again, I think it’s part of recognition that we brought a lot of value and potential value to it,” said Peters. “We were able to negotiate reasonable optionality in that regard, which we like, because it gives us a little bit of room to learn and also to extend if we like where it’s going.”
Peters also dove into the fact that WWE and sports as a whole are so engaging and not really substitutable, that Netflix wanted the ability to extend the deal should they need to.
“And then, to your point about renting, we love sports,” Peters said. “I mean, sports is some of the most compelling content out there, but in the same reason that it’s compelling, it’s also poorly substitutable, that means that you’re de-leveraged relative to the rights holder. There’s a spectrum of those things. I would say WWE is more towards the substitutable spectrum than, let’s say, NFL or NBA or things like that, but Friends is relatively non-substitutable as well. It probably sits somewhere in the same space.”
WWE’s RAW will move to Netflix in 2025
Netflix will also be the home “for all WWE shows and specials outside the U.S. as available, inclusive of Raw and WWE’s other weekly shows – SmackDown and NXT – as well as the company’s Premium Live Events, including WrestleMania, SummerSlam and Royal Rumble. WWE’s award-winning documentaries, original series and forthcoming projects will also be available on Netflix internationally beginning in 2025.”
It will be the first time RAW will not air on a linear television network in its 31-year history. RAW has aired on USA Network for most of its run. RAW debuted in January 1993 on USA. It aired there until September 2000, when the show moved to TNN/Spike (now Paramount Network). RAW moved back to USA in 2005, where it has aired since then.
