WWE Monday Night RAW has found a new home as the entertainment streaming platform and TKO Group Holdings officially announced on Tuesday that the platform will air the WWE’s flagship program Raw starting next year as part of a blockbuster 10-year deal valued at more than $5 billion, according to CNBC.
This will officially mark the platform’s first foray into live sports, something that their main competitor Hulu has created a market for on their platform.
Raw has been the top program on NBCUniversal’s cable network USA, drawing 17.5 million unique viewers per year, and had been rumored to be a target of a number of high profile companies in the latest media rights battle. Warner Bros. Discovery, which is home to AEW, was linked to WWE over the last several weeks.
We believe Netflix, as one of the world’s leading entertainment brands, is the ideal long-term home for Raw’s live, loyal, and ever-growing fan base” Nick Khan, WWE President said, according to the BBC.
TKO shares jumped more than 10% in premarket trading upon the announcement of the new deal.