Netflix is making a bold move into live-streaming with WWE’s flagship program, Raw, set to premiere on the platform tonight. The high-stakes, $5 billion deal highlights a decade-long partnership between the streaming giant and the sports entertainment powerhouse, marking a pivotal shift for both companies.
WWE’s transition to Netflix: A new era for live entertainment
Tonight, January 6, Netflix will officially debut WWE’s flagship show, Raw, marking the first time in 30 years that the wrestling institution will not air on traditional television. The move is part of a monumental $5 billion, 10-year agreement that positions Netflix as the exclusive streaming home for Raw in the United States, Canada, the UK, and Latin America. The partnership also grants Netflix global streaming rights, with plans to expand archival content and other WWE properties in the coming years.
The timing of the transition was critical. WWE, led by Chief Content Officer Paul “Triple H” Levesque, had been eyeing Netflix as a potential partner years prior. However, the streaming service, which traditionally focused on scripted content, had not yet ventured deeply into live programming. That changed when Netflix began experimenting with live broadcasts, including high-profile events like Chris Rock’s stand-up special in 2023 and two NFL games on Christmas Day 2024, which drew over 30 million viewers globally.
“The magnitude of this deal is extraordinary,” Netflix Vice President of Nonfiction Series & Sports Brandon Riegg told The Athletic. “This isn’t just sports; it’s entertainment. WWE brings a unique mix of athleticism and storytelling that aligns perfectly with our platform and audience.”
What the deal means for WWE and its fans
For WWE, the partnership with Netflix represents a game-changing opportunity to reach a broader, global audience. With Netflix’s 283 million subscribers spanning 218 countries and territories, the potential to expand WWE’s fanbase is immense. WWE’s existing shows, including Raw, SmackDown, and NXT, have long been staples of sports entertainment television, but Netflix’s global reach offers an unprecedented platform to grow the brand. WWE has already seen success in international markets, but this partnership could open new doors in untapped regions where wrestling has yet to establish a stronghold.
“Netflix’s reach is incredible, and its members are often willing to try things outside their usual preferences,” Riegg explained. “We’ve seen this with series like Drive to Survive, which boosted Formula 1’s popularity worldwide. With Raw, we see a similar opportunity to turbo-charge WWE’s audience and brand awareness.”
In addition to live streaming, Netflix will roll out archival WWE content, bringing decades of wrestling history to a new generation of fans. For the U.S. market, archival Raw episodes will be available immediately after their live broadcast, with more classic matches and behind-the-scenes content to follow later this year.
What fans can expect from WWE on Netflix
While the move to Netflix marks a significant shift, WWE executives, including Levesque, have emphasized that the essence of Raw will remain unchanged. The show will continue to deliver its signature mix of dramatic storytelling, jaw-dropping athleticism, and larger-than-life characters. Despite speculation that Netflix might push for edgier content, the series will maintain its family-friendly PG rating.
“WWE has always been about storytelling,” Levesque said. “Our fans can expect the same high-octane action and compelling drama they’ve always loved, but now on a platform that offers even more possibilities for engagement and growth.”
Netflix’s expertise in scripted programming could also lead to new opportunities. Riegg hinted at the potential for WWE-related spinoffs, including documentaries or character-driven series akin to Netflix’s successful docuseries Drive to Survive. Additionally, WWE stars like John Cena and Dwayne “The Rock” Johnson could benefit from Netflix’s global platform to further expand their crossover appeal into film and television.
Netflix’s live-streaming ambitions: A calculated risk
Netflix’s foray into live sports and entertainment is a strategic move to diversify its content offerings and attract new subscribers. The platform’s Christmas Day NFL broadcast and the success of its boxing event featuring Jake Paul and Mike Tyson have demonstrated a growing appetite for live content among its user base. However, the transition to live broadcasting has not been without challenges. Technical issues during the Jake Paul fight highlighted the complexities of streaming large-scale events to millions of viewers simultaneously.
“The sheer volume of viewers during that event was beyond anything we could have anticipated,” Riegg admitted. “While it was a challenge, it was also a learning experience. Our engineering team has since made adjustments to ensure a smoother streaming experience for future live events, including Raw.”
Beyond the technical hurdles, Netflix is exploring how to measure the success of its investment in WWE. Unlike traditional sports leagues, WWE’s blend of athleticism and scripted drama aligns more closely with Netflix’s existing portfolio of content, making it easier to gauge audience engagement. “We’ll evaluate Raw the same way we do with our biggest series, like Stranger Things or Love Is Blind,” Riegg explained. “It’s about understanding how many people are watching and how engaged they are with the content.”
The $5 billion question: Is it worth it?
While the reported $5 billion price tag may seem steep, Netflix views the deal as a long-term investment. WWE’s year-round programming — with weekly episodes of Raw and numerous premium live events — offers a consistent stream of content that could drive subscriber retention. “When you consider that this deal provides two to three hours of content every week for 10 years, it’s a compelling value proposition,” Riegg noted.
Additionally, Netflix aims to leverage WWE’s global appeal to strengthen its presence in international markets. For instance, the platform could spotlight wrestlers from regions like Latin America, Asia, and the Middle East, where WWE has historically had limited exposure. “This deal is not just about maintaining WWE’s existing fanbase; it’s about growing it by introducing the brand to new audiences worldwide,” Riegg said.
The road ahead: WWE’s future on Netflix
As WWE embarks on this new chapter, the partnership with Netflix represents a bold step into the future of sports entertainment. For fans, the move promises greater accessibility and a deeper connection to the action, thanks to Netflix’s global reach and innovative content strategies. For WWE, the deal provides a platform to modernize its storytelling and expand its influence in untapped markets. And for Netflix, this venture marks another significant milestone in its quest to redefine what a streaming service can offer.
One of the most intriguing aspects of this partnership is the potential for crossover opportunities. Netflix’s ability to create supplementary content — from behind-the-scenes documentaries to wrestler-focused series — could deepen fan engagement and offer a new perspective on WWE’s rich history and evolving storylines. Riegg hinted at this possibility, stating, “We’re looking at ways to expand how fans interact with WWE beyond the ring. Documentaries, character profiles, and even scripted series could be on the table as we explore what resonates most with our audience.”
WWE’s move to Netflix also opens doors for its stars to break into new avenues of entertainment. With Netflix’s track record of elevating talent into global stardom, wrestlers could find themselves exploring roles in Netflix originals, further cementing their status as multifaceted entertainers. The likes of John Cena and Dwayne “The Rock” Johnson have already proven that WWE can serve as a springboard to Hollywood success, and Netflix’s platform could accelerate that trend.
A calculated evolution for WWE and Netflix
While the stakes are high, both WWE and Netflix appear confident in the partnership’s potential. For WWE, the transition to streaming aligns with its long-term vision of expanding its global footprint and modernizing its content delivery. For Netflix, the deal represents a calculated evolution into live sports and entertainment, leveraging its unparalleled global reach to capitalize on a loyal, built-in fanbase.
As Raw premieres tonight, all eyes will be on Netflix to see how it handles the technical and creative challenges of live broadcasting. Success could pave the way for more live sports and entertainment deals, further blurring the line between traditional television and streaming platforms. “This is a learning journey for us,” Riegg acknowledged. “But with WWE, we believe we’ve found the perfect partner to take this exciting step forward.”
For fans, the debut of WWE on Netflix is more than just a change in platform — it’s the beginning of a new era for sports entertainment. From the iconic opening bell to the final three-count, Netflix is positioning itself as the ultimate destination for WWE programming. Whether you’re a longtime fan or a newcomer curious about the spectacle of professional wrestling, this partnership promises to deliver the action, drama, and excitement WWE is known for, all while pushing the boundaries of what live-streaming can achieve.
As the next chapter in WWE’s storied history unfolds, the collaboration with Netflix underscores a broader industry trend: the convergence of traditional entertainment formats with modern digital platforms. With Netflix’s resources and WWE’s dynamic storytelling, the possibilities are virtually limitless.
Tonight’s premiere of Raw on Netflix is only the beginning. The deal has the potential to redefine the way fans experience live sports entertainment, setting the stage for a future where streaming services are not just a supplement to cable TV but its full-fledged replacement. As WWE takes center stage on Netflix, the world will be watching to see how this bold experiment reshapes the entertainment landscape.
