WWE Network had been its own standalone streaming service, costing subscribers $9.99 per monthWWE
WWE Network is moving over to NBC and will become exclusive to streaming service Peacock. WWE Net will launch on Peacock Premium March 18. Execs would not discuss financial details of the five-year deal, but it is said to be worth more than $1B. “It means that we’re done doing deals in the U.S. for awhile,” said WWE President & Chief Revenue Officer Nick Khan. “This is a multiyear, long-term deal. It certainly goes past the expiration of the ‘Raw’ and ‘Smackdown’ deals.” WWE Network had been its own standalone streaming service, costing $9.99 per month. One of the attractions to the deal for WWE was the opportunity to expand its fanbase. Peacock’s premium service is available to around 25 million Comcast and Cox subscribers at no added cost. Other subscribers pay $4.99 for access -- half the cost of WWE Network’s current fee, Khan said. “NBC’s reach will help expand the WWE audience,” Khan said. WWE was talking to several media companies about this deal, Khan said. Its nearly three-decade relationship with NBCU helped seal the deal. For NBC, the opportunity to add live-event programming to its streaming service was a main reason for cutting the deal. “WrestleMania is a cultural phenomenon in this country,” said Peacock Exec VP & Chief Revenue Officer Rick Cordella. “It is an enormous event. To have that live on Peacock is going to be a cornerstone to our service." Evolution Media’s Alan Gold advised WWE on the deal (John Ourand, THE DAILY).
JUST THE BEGINNING? The WALL STREET JOURNAL's Joe Flint notes the move to Peacock "will be a moneysaver for WWE fans," since "all the same content" from the WWE Network that costs $9.99 a month will be available on Peacock for $4.99 a month ($9.99 for the commercial-free version). Some WWE content "will also be available on the free version of Peacock." The deal also "deepens the ties" between WWE and NBC. NBCUniversal's USA Network is the television home of WWE shows “Raw” and “NXT," while WWE’s "other big show 'Smackdown'" is on Fox. Episodes of all three shows "will be carried on Peacock after their initial runs on USA and Fox." The deal is the "first major move" by WWE under Khan, who joined in August from CAA, where he was co-Head of Television. WWE Network, which launched in '14, currently has 1.2 million subscribers in the U.S. and another 400,000 around the globe. Growth "hasn’t been as strong as the company had hoped," and WWE Chair & CEO Vince McMahon had "previously said a sale of the asset wasn’t out of the question." WWE Network "will continue to operate as a stand-alone entity abroad" (WALL STREET JOURNAL, 1/25).
