WWE media – TKO’s filings spell out a 10-year Netflix package worth $5.5 billion, an ESPN slate at $325 million annually, USA Network and NBC/Peacock rights at $287 million a year, and CW for NXT at $25 million annually—together landing at roughly $1.2 billion per year.
For years, WWE’s next chapter has been talked about in terms of broadcast windows and streaming growth. But the newest figures are different: they put a dollar amount on what fans will keep seeing—and where—stretching across Netflix, ESPN, USA Network, NBC, Peacock, and CW.
In a TKO SEC filing covering Netflix. the rights deal runs for 10 years. from January 2025 through December 2035. with options to terminate after five years and to extend all the way to 20 years. The aggregate rights fee is stated as “in excess of $5 billion.” The specific valuation tied to the deal is listed as $550 million per year. or $5 billion through 10 years.
The Netflix package is described as covering Monday Night Raw in the U.S. both live weekly and on-demand on Netflix. It also includes virtually all live core content rights—Raw. Smackdown. NXT. and PLEs—as well as library rights in major international territories. including the U.K. Canada. India. Latin America. and others. In the U.S., it also includes certain library rights, including Raw episodes and pre-ESPN PLE/PPVs.
The price of live spotlighting is laid out in the ESPN deal as well. Another TKO SEC filing sets ESPN’s agreement for five years. from September 2025 to December 2030. with a value of $325 million per year. or $1.6 billion through five years. The rights cover monthly premium live events in the U.S., including Wrestlemania, airing live on the ESPN Unlimited app. There are occasional partial simulcasts on ESPN or ESPN2 traditional networks, while PLEs are available for replay on ESPN Unlimited.
In the traditional TV lane. USA Network and NBC/Peacock share the weekly rhythm of Smackdown and the quarterly cadence of Saturday Night’s Main Event. A five-year deal is listed from October 2024 to September 2029, valued at $287 million per year, or $1.4 billion through five years. Smackdown airs live weekly in the U.S. on USA Network. Saturday Night’s Main Event is set to air quarterly live on Peacock.
The filing also notes a stop-and-start history for that show: Saturday Night’s Main Event was initially simulcast on NBC, but that was discontinued after four simulcasts. For library content on Peacock, Smackdown episodes join after 30 days.
NXT, the weekly U.S. live show that often functions like a proving ground, lands on CW with a much smaller price tag. Wrestlenomics figures for the CW package list a five-year term from October 2024 to September 2029. worth $25 million per year. or $125 million through five years. NXT airs live weekly in the U.S. on CW, with next-day replay streaming on MyCW.
Put together, the annual values named for Netflix ($550 million), ESPN ($325 million), USA Network and NBC/Peacock ($287 million), and CW ($25 million) add up to about $1.187 billion per year—roughly $1.2 billion.
What stands out is how the same core brand is carved up differently depending on the audience and the platform: Netflix is positioned as a major destination for both international live rights and U.S. on-demand viewing of Raw. ESPN is centered on monthly premium live events with replay on its app. USA Network anchors the weekly U.S. Smackdown slot while Peacock handles the quarter-by-quarter Saturday Night’s Main Event. and CW/NXT keeps a separate weekly footprint with next-day streaming.
The season-to-season impact is simple for viewers and complicated for everyone else: these are long windows—10 years for Netflix. five years for ESPN. five years for USA Network and NBC/Peacock. and five years for CW—spelling out where WWE content will live for a generation of viewing habits. not just a single contract cycle.
WWE media deals TKO SEC filing Netflix rights ESPN Unlimited USA Network NBC Peacock CW NXT Monday Night Raw Smackdown Wrestlemania Saturday Night's Main Event
$1.2 billion?? WWE really is just a money printing machine now.
So Raw is on Netflix AND ESPN now? Like what’s even the point of cable then… I’m confused. I swear they change it every year.
I thought Netflix had all wrestling like a long time ago but apparently it’s only Raw live weekly? Also ESPN gets Wrestlemania?? Wait doesn’t Peacock do WWE too like always? This just reads like they’re splitting it up and everyone has to subscribe to everything.
This is why I can’t keep up, it’s literally spread across Netflix, ESPN, USA, Peacock, and CW like pick your poison. Are they even calling it NXT if it’s “on CW” now lol. And $25 million for CW NXT sounds low like compared to what I’d expect, unless nobody’s watching. Also the “terminate after five years” part sounds like they’ll just bail and move again, like they always do.