The impact of the collaboration on MBC Group, which holds the broadcasting rights for MENA, is still uncertain.
Netflix has announced a major rights deal exceeding $5bn, establishing itself as the exclusive platform for the live events of World Wrestling Entertainment’s (WWE) Raw starting from January 2025.
This 10-year partnership will bring Raw to the streaming giant’s platform in the US, Canada, Britain, and Latin America, with plans to expand to additional countries and regions over time, as announced by both companies.
Netflix’s commitment extends beyond Raw, as the streaming service will exclusively broadcast all WWE shows and specials, including SmackDown, alongside pay-per-view live events such as WrestleMania and Royal Rumble outside the US.
The 10-year agreement includes an option for Netflix to extend the deal for an additional decade or opt-out after the initial five years.
In 2018, the Ministry of Sport in Saudi Arabia inked a decade-long partnership with the American wrestling promotion, showcasing their commitment to Vision 2030 and emphasising the growing popularity of the sport within the Kingdom.
In November, WWE successfully hosted the 2023 Crown Jewel, a flagship event in the circuit, in Riyadh.
Throughout the MENA region, Shahid exclusively broadcasts all WWE premium live events, following a 2021 agreement between MBC Group and World Wrestling Entertainment to feature all matches in the region.
The impact of Netflix’s deal on the existing partnership with MBC Group remains uncertain at this time.
The streaming giant previously ventured into live events with Chris Rock’s stand-up special, Selective Outrage, and found success with sports-related programming like the Formula 1 racing documentary series, Drive to Survive, and the golf documentary series, Full Swing.
In October, Netflix hosted its first live sports event, The Netflix Cup, featuring athletes from Drive to Survive and Full Swing.
Mark Shapiro, President of TKO, told Reuters that Netflix has adeptly combined live sports programming with an entertaining backbone, signalling a shift from the company’s previous stance on not being in the live games business.
The Raw deal represents Netflix’s first significant investment in live events catering to a devoted, multi-generational fanbase, distinguishing itself from traditional professional sports. Raw, airing on Mondays and ranking as the top show on the USA Network, draws 17.5m unique viewers annually. The long-standing show debuted in 1993 and boasts 1,600 episodes.
The agreement with Comcast, which paid approximately $265m annually for Raw rights, concludes this year. This strategic move aligns with Netflix’s efforts to bolster its ad-supported streaming service (AVOD).
Last year, WWE merged with Endeavor Group’s UFC to form TKO Group Holdings in a monumental $21bn deal, solidifying its standing as one of the industry’s major players in wrestling and entertainment.
