WWE Is Coming To Netflix: What's Going On With TKO Group Holdings Stock?

TKO Group Holdings Inc TKO shares are trading higher Tuesday after the WWE announced a long-term partnership with Netflix Inc NFLX.

What To Know: TKO Group’s new partnership with Netflix will brings the WWE’s weekly Raw programming to Netflix, marking the first time Raw has left linear television since its inception more than 30 years ago.

Netflix is set to become the exclusive new home of Raw in the U.S., Canada, U.K. and Latin America, among other territories beginning in January 2025. Additional countries and regions will be added over time.

Netflix will also become the home for all WWE shows and specials outside the U.S. including SmackDown and NXT, as well as premium live events including WrestleMania and Royal Rumble.

“This deal is transformative. It marries the can’t-miss WWE product with Netflix’s extraordinary global reach and locks in significant and predictable economics for many years,” said Mark Shapiro, president and COO of TKO Group.

“Our partnership fundamentally alters and strengthens the media landscape, dramatically expands the reach of WWE, and brings weekly live appointment viewing to Netflix.”

The agreement with Netflix has an initial 10-year term with aggregate rights fees in excess of $5 billion, according to a regulatory filing.

TKO Group also announced on Tuesday that it appointed Brad Keywell and Dwayne Johnson to its board of directors, effective immediately. The additions will increase TKO’s board from 11 to 13 members.

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TKO, NFLX Price Action: At publication time, TKO shares were up 22.2% at $94.60 while Netflix shares were up 1.61% at $4493.51, according to Benzinga Pro.

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