Netflix reached a multibillion-dollar, 10-year deal for exclusive rights to W.W.E.’s flagship weekly wrestling show, “Raw,” as the streaming giant broadens its offerings with more live content.
The deal will bring “Raw” to Netflix starting next January, Netflix and TKO Group, W.W.E.’s parent company, said in a statement on Tuesday. Netflix will also own the rights to stream W.W.E.’s other shows and specials outside the United States.
The agreement will cost Netflix more than $5 billion and last for 10 years, with an option to extend an additional 10 years or opt out after five, TKO Group said in a regulatory filing.
Hours later, Netflix said in an earnings announcement that it had added 13.1 million subscriptions for the largest fourth-quarter gain in company history. The service now has 260 million subscribers worldwide.
“By combining our reach, recommendations and fandom with W.W.E., we’ll be able to deliver more joy and value for their audiences and our members,” Netflix’s chief content officer, Bela Bajaria, said in a statement.
The company says its strategy on live events has not changed. On Tuesday, during a fourth-quarter earnings call, Netflix’s co-chief executive Ted Sarandos echoed a sentiment he had previously expressed about the service’s attraction to “the drama of sport.”
