The whole point of Netflix, when it started streaming, was to be different from traditional television; the company created the full-season binge model with paid subscriptions that circumvented ads. Now, the point of Netflix is to replace traditional television, and that means in some cases becoming traditional television. As such, the streamer has tiptoed into ad tiers and livestreams, and now it’s assuming the mantle of one of broadcast TV’s time-honored staples: WWE’s Monday Night Raw.
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According to Axios, Netflix has struck a monumental 10-year deal to air Monday Night Raw starting in 2025. The deal is valued at a whopping $500 million, and marks the first time that the WWE flagship series will move off of broadcast television in its 30-year history. Outside of the U.S., Netflix will adopt the rest of the WWE family, too, including SmackDown, WrestleMania, SummerSlam, Royal Rumble, etc. (Inside the U.S., SmackDown is moving to the USA Network and NXT is moving to the CW. Keep up!)
“We are excited to have WWE Raw, with its huge and passionate multigenerational fan base, on Netflix,” said Netflix chief content officer Bela Bajaria (via Variety). “By combining our reach, recommendations and fandom with WWE, we’ll be able to deliver more joy and value for their audiences and our members. Raw is the best of sports entertainment, blending great characters and storytelling with live action 52 weeks a year and we’re thrilled to be in this long-term partnership with WWE.”
This isn’t even the WWE’s only big news of the day. Per Deadline, the franchise’s biggest success story, Dwayne “The Rock” Johnson, has joined the board of directors of TKO Group Holdings, Inc. (the company formed in the merger last year between WWE and UFC, facilitated by Endeavor). In addition to getting a piece of the pie and a seat at the table, Johnson gained ownership of the trademark for the name “The Rock,” which he picked up during his WWE days.
“My grandfather, High Chief Peter Maivia, and my dad, Rocky ‘Soulman’ Johnson, would’ve never thought this day would come,” Johnson said in a statement (via Deadline). “Which is why I’m very humbled to have a seat at the table that has decades of history and family legacy for me. A table that my family helped to build. Being on the TKO Board of Directors, and taking full ownership of my name, ‘The Rock’, is not only unprecedented, but incredibly inspiring as my crazy life is coming full circle. At my core, I’m a builder who builds for and serves the people, and Ari is building something truly game changing. I’m very motivated to help continue to globally expand our TKO, WWE, and UFC businesses as the worldwide leaders in sports and entertainment—while proudly representing so many phenomenal athletes and performers who show up every day putting in the hard work with their own two hands to make their dreams come true and deliver for our audiences. I’ve been there, I’m still there and this is for them.”
All of this obviously represents major transformation for WWE, which fell into flux over the last few years due to founder Vince McMahon fielding misconduct allegations. He nevertheless managed to hold onto the reins of the empire to some extent, becoming executive chairman of the TKO board (in a statement, McMahon said he’s proud to have Johnson “join the TKO board to help take our company to new heights”). Elsewhere, though, the company’s leadership has found new blood in Endeavor’s Ari Emmanuel and current WWE president Nick Kahn, who assumed the role in 2020. (Kahn is also a childhood friend of Johnson’s—his sister Nahnatchka Khan co-developed Johnson’s NBC series Young Rock, per Deadline.)
And of course, it’s a strategy shift for Netflix, which has resisted livestreaming sports even as it dabbles in live comedy, awards shows, and reality show reunions. Monday Night Raw isn’t precisely the same as airing Monday Night Football, but it’s another step in that direction, and another step towards making broadcast television extinct. Despite the cracks in the foundation that have become evident in recent years, it seems the grand experiment of the streaming era continues.