Netflix scores WWE's 'Monday Night Raw' in $5 billion live-streaming deal

LOS ANGELES - Netflix has landed WWE’s weekly television show "Raw" in a $5 billion deal. 

The WWE’s flagship weekly live show will air exclusively on the streaming giant beginning in January 2025, according to an announcement on Tuesday. It will mark the first time "Raw" has left linear television – or traditional TV via satellite or cable – since its inception more than three decades ago. 

"Raw" will be on Netflix in the U.S., Canada, U.K. and Latin America, with "additional countries and regions to be added over time," the statement said. 

"Raw," which debuted in 1993, has produced 1,600 episodes to date and features wrestlers such as Cody Rhodes, Becky Lynch, Seth Rollins and Rhea Ripley. 

WWE Superstar Cody Rhodes arrives on the red carpet for the premiere of the Peacock original WWE documentary "American Nightmare: Becoming Cody Rhodes" on July 18, 2023, in Sandy Springs, Georgia. (Photo by WWE via Getty Images)

The three-hour program is currently USA Network’s No. 1 show, according to the announcement. Its media rights have been considered a hot commodity over the past several months, particularly after the WWE return of CM Punk in November, with many speculating it could land on any number of networks or streaming platforms.

WWE, which is part of TKO Group Holdings Inc., also said that its documentaries, original series and forthcoming projects will be available on Netflix internationally starting in 2025.

Mark Shapiro, TKO president and COO, called the deal "transformative."  

"It marries the can’t-miss WWE product with Netflix’s extraordinary global reach and locks in significant and predictable economics for many years," Shapiro said. "Our partnership fundamentally alters and strengthens the media landscape, dramatically expands the reach of WWE, and brings weekly live appointment viewing to Netflix."

Bianca Belair carries Carmella during WWE Monday Night Raw at the TD Garden on March 6, 2023, in Boston, Massachusetts (Photo by Matt Stone/MediaNews Group/Boston Herald via Getty Images)

The agreement also represents a big live-streaming investment by Netflix, which has previously aired live content like Chris Rock’s standup special, a reality TV reunion, and a live F1 drivers-PGA Tour golfers sporting event. 

"We are excited to have WWE Raw, with its huge and passionate multigenerational fan base, on Netflix," Netflix’s Chief Content Officer Bela Bajaria said in a prepared statement. 

The "Raw" news follows the announcement in September by World Wrestling Entertainment Inc. that "Friday Night Smackdown," would be moving from FOX to USA Network in 2024 under a new five-year domestic media rights partnership with NBCUniversal. 

As part of the agreement, WWE will also produce four prime-time specials per year that will air on NBC, starting in the 2024/2025 season. This will be the first time that WWE will air on the network in prime time.

WWE also announced on Tuesday that it reached a deal with Dwayne "The Rock" Johnson that will give the star the rights to his nickname. Johnson will also join the board of TKO Group.

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This story was reported from Cincinnati. The Associated Press contributed.