Todd Spangler NY Digital Editor Shares of TKO Group Holdings, the parent company of WWE and UFC, popped more than 23% on news of its 10-year deal with Netflix for “Monday Night Raw.” TKO’s deal WWE “Raw” deal with Netflix, announced Tuesday morning, has an initial 10-year term for an aggregate rights fee of more than $5 billion, or $500 million annually.
That’s up from WWE’s current five-year deal for “Raw” with NBCUniversal, said to be worth approximately $250 million-$260 million per year.
Netflix has the option to extend the pact for an additional 10 years — or to opt out after five years. Shares of Netflix were up less than 1% in early trading.
The streaming giant is scheduled to report Q4 2023 earnings after market close Tuesday. In addition to the multiyear deal with Netflix for WWE “Monday Night Raw,” TKO Group announced that Dwayne Johnson has joined its board.
Read more on variety.com