“It Feeds Our Desire”: Netflix CEO Compliments Latest $5Billion Deal With WWE as a Mutual Partnership

Published 01/24/2024, 12:22 AM EST

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WWE and Netflix announced Tuesday that WWE Raw would be available on Netflix beginning in January 2025. This emerged as a historic partnership that is reportedly valued at $5 billion over ten years. This will mark the first time one of WWE’s shows will leave the cable network. Netflix CEO Ted Sarandos recently discussed the deal during a quarterly earnings call, revealing how the streaming titans are enthusiastic about this massive opportunity.

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Netflix CEO shares the mutual benefits both companies can enjoy as a result of the deal

The Netflix contract is massive and groundbreaking, to say the least. Netflix CEO Ted Sarandos recently discussed the purchase during the company’s quarterly earnings call. He elaborated on the fact that it can be an opportunity for both companies that currently rule their respective fields. “We are thrilled to bring WWE live programming to our members around the world. It feeds our desire to expand our live event programming. Most importantly, fans love it. For decades, WWE has grown this multi-generational fanbase that we believe we can serve and we can grow. this is a global deal. We can help them, and they can help us build that fandom around the world. This should also add some fuel to our new and growing ad business.”

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Sarandos further went on to say that, while he would not reveal the terms of the contract, an SEC filing revealed that it is worth more than $5 billion and will last ten years. He was also asked if spending on the WWE contract was within budget.

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Given their spending of $17 billion on programming, the Netflix CEO stated, “Expanding the live event programming is something we’ve talked about for a while and this has been in the works. This fits inside our $17 billion programming spending. The events itself are the storytelling in WWE. This is a proven formula for us and we’re excited to jump into. This is sports entertainment, very close to our core. The deal is long-term; we’re super excited about it.”

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While fans are still trying to digest this exciting news, there is another piece of information that will take them by surprise. As per reports by CNBC, fans will get to see some changes in the scripting of the episodes. According to insiders, the Triple H run promotion will be scripting the events of the show to bypass the advertisement barriers.

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The report states, “Matches will be scripted around commercial breaks to satisfy ad-free customers, who will see continued action from live matches that aren’t important to the outcome, such as a wrestler in a sustained headlock, according to a person familiar with the matter.” However, there’s a catch, as this privilege might be limited to customers who have subscribed to the ad-free plan.

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Nevertheless, what do you make of the exciting announcement? Does the Netflix CEO’s revelations about the deal make it sound like a fruitful partnership? Let us know in the comments section below.

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Written by:

Abhishek Kumar Das

212Articles

One take at a time

Edited by:

Amal Joyce

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