The Joe Pomp Show
#255 Netflix's Commitment To Live Sports Spells Doom For ESPN
Jan 25, 2024
Netflix's $5 billion deal with WWE for live sports content is analyzed, discussing the implications for both parties and the potential threat to legacy sports media like ESPN. The podcast explores the impact of Netflix's entrance into live sports, the shift in content offerings, and the disruption to traditional media companies.
09:46
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Quick takeaways
- Netflix's $5 billion deal with WWE marks a strategic shift into live sports, expanding content diversity and global reach.
- Tech giants entering live sports rights bidding challenge legacy players like ESPN, signaling a shift towards streaming platforms.
Deep dives
Netflix's $5 Billion Deal with WWE Marks First Foray into Live Sports Entertainment
Netflix announced a $5 billion deal with TKO Group to bring WWE's Raw program to the streaming service, marking its first significant venture into live sports entertainment. This agreement includes hosting WWE shows and specials like SmackDown, NXT, WrestleMania, SummerSlam, and Royal Rumble on Netflix, providing about 150 hours of content annually. The partnership surprised many as Netflix had previously shied away from live sports rights due to cost concerns, making this move a significant shift in strategy and a substantial opportunity for both parties.
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