WWE Secures Deal with NBCUniversal to Bridge Broadcast Gap Before Netflix Transition
Summary
– WWE Raw will continue airing on the USA Network until the end of 2024, thanks to a new deal with NBCUniversal.
– The show is set to move to Netflix starting January 2025, following the expiration of the current broadcasting agreement.
– A $25 million media rights agreement ensures Raw remains on USA Network for the fourth quarter of 2024, preventing a potential broadcasting hiatus.
WWE Raw has secured its broadcasting home on the USA Network through the end of 2024, bridging a potential gap that could have left the show without a network for the last three months of the year. This arrangement comes as part of a strategic transition plan, with Raw set to shift significantly to Netflix at the beginning of 2025.
Earlier this year, TKO Group Holdings announced an impending change in Raw’s broadcasting rights, with Netflix slated to become the new platform for the popular wrestling show starting next year. This transition was initially set to leave a gap after the NBCUniversal contract expired in October 2024. To address this, WWE has successfully negotiated a continuation with NBCUniversal to cover the interim period.
According to WWE’s First Quarter Earnings report released on Wednesday, the company has entered into a $25 million domestic media rights agreement with NBCUniversal. This deal ensures that Raw will remain on the USA Network throughout the fourth quarter of 2024, providing continuity for fans and stability for the program as it prepares for its move to Netflix.
“WWE entered into a $25 million domestic media rights agreement with NBCUniversal for Raw to remain on USA Network for the fourth quarter of 2024,” stated the earnings report.
The report also highlights a positive outlook for WWE’s financials, partly due to this new agreement. The company has raised its revenue projections for 2024, now expecting to generate between $2.610 billion and $2.685 billion, with Adjusted EBITDA predicted to be between $1.185 billion and $1.205 billion.
This financial adjustment reflects the immediate benefits of the extended media rights agreement and the overall health and growing market appeal of WWE’s offerings. As WWE Raw prepares to transition to a new platform with Netflix, the strategic handling of its broadcast rights showcases the company’s adept management and forward-looking approach, ensuring that its flagship program continues to reach its large and dedicated fan base without interruption.
