On Tue, Jan 23, 2024 at 5:54 PM M-D November <[email protected]> wrote:

> Would I be right in interpreting this to mean that the Netflix deal
> effectively shutters the WWE Network standalone service internationally,
> much as the Peacock migration did in the US?


They haven't said as much, but I think it will do in due course. The WWE
will have done rights deal with various outlets globally that might not let
them switch to Netflix everywhere in January 2025, hence the headline
reference only to RAW, and only to a few territories. But it's clear that
as those other deals expire, Netflix will pick everything up. The press
release's boilerplate mentioned WWE Network, but it also mentions lots of
the major partners that they'll slowly be unwinding from over the next few
years! https://corporate.wwe.com/news/company-news/2024/01-23-2024

In the UK, *everything* changes in January next year. The current rights
deal is with TNT Sport (seemingly now Warner Bros. Media's global sports
brand). Interestingly, here TNT Sport is also home to UFC, and I think one
of the ideas of the formation of TKO which owns both WWE and UFC was to
sell the rights together as a powerful package. It seems clear that this is
not the case right now, although I guess that UFC rights are likely to be
at a different stage in their existing rights cycles, so perhaps down the
line they end up on Netflix too once current deals are nearing the end of
their contracts?

One other thing I'd note is that this seems to remove the opportunity for
big PPV events outside North America. It seems that everything goes to
Netflix. So that loss of revenue must be priced in under this deal.

Overall, an interesting entry-point for Netflix and live TV on a regular
basis. With viewership in the ~1m range in the US, it shouldn't be too much
of a technical hurdle to serve all those live streams, even allowing for
Latin American audiences watching live too. For the rest of the world, I'm
certain that WWE audiences for things like RAW are mostly next-day
time-shifted.

This is probably a great deal for WWE too in keeping them in front of
audiences.

Personally, it's of zero interest, but academically it's fascinating.


Adam

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