Netflix Pays $5 Billion for ‘Raw’ in Bet on Live Events
- Company to be exclusive home for show in US, other territories
- Streaming service to air three hours of live wrestling weekly
WWE Wrestlemania Raw in Phoenix, Arizona, on March 27, 2023.
Photographer: Alejandro Salazar/PX Images/Icon Sportswire/Getty Images
Netflix Inc. has acquired the exclusive rights to Raw as well as other programming from World Wrestling Entertainment, marking the video service’s first big move into live events.
The streaming giant agreed to pay $5 billion over the course of the 10-year deal, according to people familiar with the terms who asked to not be identified because the numbers aren’t public. A spokesperson for Netflix declined to comment.