WWE's Raw moves to Netflix in $5B+ 10-year exclusive deal

TKO Group Holdings, Inc.

Netflix becomes exclusive home of Raw in US, Canada, UK, Latin America starting Jan 2025.
Agreement includes SmackDown, NXT, Premium Live Events, and documentaries internationally.
Aggregate rights fee exceeds $5 billion over initial 10 years; Netflix has 10-year renewal option.
WWE's Raw leaves linear TV for first time in 31 years; currently #1 on USA Network with 17.5M unique viewers.
TKO President calls deal 'transformative,' locking in significant and predictable economics.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.