WWE's Nick Khan Shares More Details About Raw Broadcast Rights Deal With Netflix

WWE and Netflix have announced a landmark $5 billion streaming deal for the rights to "WWE Raw," as well as WWE's Premium Live Events. In an interview with "Bloomberg TV," WWE's Nick Khan explained how the deal will greatly benefit both parties.

"It was yet another test of someone new in the space, obviously an established streaming entity — the streaming entity, if you will — It was a good bet by us and we think a good bet by them," Khan said. "There is no upcharge for WrestleMania or any other premium live events," Khan said. 

He noted that WWE was the first wrestling company to move away from the traditional pay-per-view model with the creation of the WWE Network in 2014, which helped bring the price point for WWE PPVs way down, and he sees the Netflix deal as a continuation of that practice. 

"A company of our size, as great as we'd like to believe we are, we're not going to compete with the Amazons of the world, the Netflixes of the world, the NBCUs of the world," said the WWE President. "We think [this deal will lead to more ad-pricing power]. You've seen what Amazon has been able to do on their ad-supported tier. Netflix is going to have great success in that space," Khan gushed, believing that Netflix will be able to monetize each three-hour "Raw" in ways that have been unheard of until now.

The next year is going to see a lot of change for WWE, who doesn't just have the streaming deal with Netflix going into effect in 2025, but will also be moving "WWE SmackDown" from Fox to "Raw"'s old home of the USA Network. "WWE NXT" will move to the CW, marking the first time WWE has been on network TV in over a decade.