Endeavor and TKO exec provides updates on WWE’s deal with Netflix.
Coming up for WWE is their King and Queen of the Ring Premium Live Event from Jeddah, Saudi Arabia on May 26th. The night prior, they’ll be presenting an episode of Friday Night SmackDown from Jeddah as well.
When it comes to the existing relationship between WWE and Saudi Arabia, Endeavor and TKO President Mark Shapiro stated that the public can look for them to expand their current deal in the next 6-12 months. He relayed that information on the 52nd Annual J.P. Morgan Global Technology, Media & Communications Conference.
He stated that WWE President Nick Khan is leading discussions to expand to more than two events per year. Shapiro added that TKO is getting significant site fees via UFC’s agreement with Abu Dhabi. Staying on that topic, he said TKO will begin asking for those incentive packages to bring Raw or SmackDown or UFC to a town in the USA. Las Vegas Convention and Visitors Authority granted WWE $5 million in site fees to bring WrestleMania 41 to the city.
You’ve seen us monetize site fees with the likes of Saudi Arabia for WWE. You can look for us to expand our current deal in the next 6-12 months. Very happy with M.B.S. (Mohammed bin Salman Al Saud) and the partnership we have there. We have two events a year but we’re already in discussions — Nick Khan is leading that for us in expanding that to more events. We also have a phenomenal deal in Abu Dhabi with the UFC where we’re getting significant site fees and incentive packages there… On top of that, we’re getting site fees for our pay-per-views in the UFC. Significant by the way and here in the U.S. and internationally but, specifically here in the U.S. and we’re going to start asking for those same incentive packages to bring Raw to town, to bring SmackDown to town, to bring our Fight Nights to town.
Elsewhere during the chat, Shapiro revealed that WWE did a test run of airing WrestleMania XL on Netflix in New Zealand. There was no promotion or marketing attached to it because they were concerned about it not going well.
He said it went smoothly and they were the highest-rated program that night on all of streaming and linear. He added that sponsors are excited about the Netflix distribution.
I’ll tell ya, we did a test in April in New Zealand for WrestleMania where we aired WrestleMania on Netflix in New Zealand but no promotion, no marketing whatsoever. No press release, nobody knew it was happening because we were all nervous it wouldn’t necessarily work so well. Kind of the guinea pig trial. Well, it went off without a hitch. That’s the good news. But secondly, the gravy on top of that is we were the highest-rated program that night on all of streaming and linear so a great story for us.
Sponsors are excited about it. I don’t think anybody saw it coming, and granted, this doesn’t mean they’re into sports yet, as you know. WWE is sports entertainment, it is scripted. Newsflash at 11 for you, it is scripted, and Netflix does a lot of scripted programming so they saw it as that, they’re fans of storytelling clearly and all its shapes and sizes so it was a way for them to dip their toe in into sports live events but, you know, not get all the way pregnant.
Further speaking about WWE’s deal with Netflix that goes into effect in 2025, Shapiro said it’s contemplated in their agreement to do a series similar to Formula 1’s Drive to Survive. He said that can be expected in 2025. There will be other programming such as documentaries on wrestlers.
Yeah, we get The Rock out there to do that with us. Who knows? But, they (Netflix) will do more of those roasts. That was too much of a hit. But yes, it is contemplated in our deal. We will do a lot of ancillary and shoulder programming and I think the very first genre you’ll see out of WWE in terms of ancillary programming will be a Drive to Survive show. That’s contemplated for the first season and we’ll also do some documentaries probably on a few of our superstars.
Our current deal is up at the end of the year for WWE but I would expect to see a Drive to Survive-type show next year, to go along with the first of our live telecasts.
USA Network will host both Raw and SmackDown this fall until Raw moves to Netflix in January 2025. NXT is heading to The CW in October.
If the quotes in this article are used, please credit the original source with an H/T to POST Wrestling for the transcriptions.
