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Sharp Tech with Ben Thompson
Why Netflix Bet on Wrestling, The Future of Watching Sports, Recapping a Week at the World Economic Forum in Davos
Jan 25, 2024
Greg Peters, co-CEO of Netflix, discusses why Netflix partnered with WWE for live rights, the future of watching sports in VR, and recaps a week at the World Economic Forum in Davos.
01:09:39
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Quick takeaways
- Netflix's strategic shift towards acquiring live sports content through its 10-year, $5 billion deal with WWE highlights the importance of using popular sports entertainment to expand its subscriber base and monetize through advertising.
- Netflix's move into the live sports rights market demonstrates its focus on preventing churn and ensuring ongoing value for subscribers, leveraging its subscriber retention track record and financial resources.
Deep dives
Netflix Strikes $5 Billion Deal to Stream WWE Raw and Other Shows
Netflix has secured a 10-year deal worth over $5 billion to become the exclusive home of WWE Raw, one of the leading wrestling shows. The deal will give Netflix exclusive rights to stream the show in the United States and internationally distribute it in countries like Canada, Latin America, and the UK. Additionally, Netflix will gain international rights to other WWE shows, such as SmackDown and NXT, as well as major events like WrestleMania. The agreement allows Netflix access to around 150 hours of live content each year, providing a mix of ongoing storylines and an opportunity to expand its subscriber base through a widely popular sports entertainment product.
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