Netflix to invest 6.7 trillion won in 10-year broadcast rights for professional wrestling

Netflix, an online video service (OTT), has signed a long-term contract with World Wrestling Entertainment (WWE) on an astronomical scale.마카오토토

The Wall Street Journal (WSJ) reported on the 23rd (local time) that Netflix has acquired exclusive broadcast rights for WWE’s popular program “RAW.”

Netflix is expected to pay more than $5 billion (about 6.7 trillion won) for a 10-year contract that starts in January 2025.

The USA Network under NBCUniversal, which currently exclusively broadcasts “RAW,” is said to pay $1.3 billion (about 1.7 trillion won) to WWE every five years.

Netflix has decided to pay nearly twice as much.

This is the largest contract Netflix has signed in the sports broadcasting sector.

However, Netflix can exercise the option of terminating the contract after five years, or extending the contract for an additional 10 years after the expiration of the 10-year contract.

Netflix’s decision to invest a large amount in broadcasting professional wrestling seems to take into account changes in the media market.

In a situation where TV viewers are accelerating their departure, whether or not they have popular content such as professional wrestling can be a decisive variable in attracting subscribers.

It is known that more than 2 million Americans currently watch RAW on TV.

“RAW is the best content in sports entertainment,” said Bella Baharia, Netflix’s head of content. “It will bring a lot of joy and value to Netflix viewers in the future.”

WWE plans to hand over broadcasting rights in Canada and Latin America to Netflix along with the U.S.

In addition to RAW, Netflix will exclusively broadcast SmackDown and WrestleMania. The annual live broadcast time is expected to reach 150 hours.

In addition to Netflix, OTT companies in the United States are increasing their investment in sports broadcasting.

YouTube is actively using professional sports to increase subscribers to its paid service. YouTube has sold products that allow users to watch all Major League games in the U.S. professional baseball league by paying a monthly subscription fee, and has also released products that allow users to watch Brazilian professional soccer.

YouTube also signed a contract to pay an average of $2 billion (about 2.67 trillion won) annually for seven years to win the right to broadcast Sunday games in the National Football League (NFL), which is considered one of the most popular sports in the United States.

In addition, OTT Apple TV+, which is operated by Apple, is attracting viewers to watch the season of the U.S. Professional Football (MLS).

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