WWE Considering $350M-Yearly Deal With Netflix in 2026

The TKO Group is making big waves in the media world with potential new deals for WWE and UFC, as shared by MoffettNathanson analyst Robert Fishman. According to Fishman in the Puck newsletter, there are exciting predictions about the future of WWE Premium Live Events (PLE) and the upcoming UFC media deal.

Since 2021, NBCUniversal’s Peacock has been the exclusive streaming platform for the WWE Network, including WWE PLEs in the United States. However, this multi-year deal is set to expire in March 2026. Recently, WWE signed a 10-year deal with Netflix, granting them international distribution of the network and domestic rights to WWE Monday Night Raw.

Fishman believes that Netflix will further expand its professional wrestling content by acquiring US rights to PLEs in a potential $350 million per year agreement with WWE. This move would unify global ownership of the PLE rights, allowing Netflix to leverage sponsorship and advertising opportunities more effectively.

On the other hand, Peacock might shift its focus away from WWE content after securing NBA rights. With the NBA returning to NBC in October for the first time in over two decades, the network may pivot towards more basketball-centric programming. In addition to NBA games, NBC is eyeing MLB Sunday Night Baseball and potentially even Formula One to diversify its sports offerings.

When it comes to UFC, Fishman suggests that their next media deal could exceed $900 million per year and be split into two packages. This significant increase would mark a 1.6x jump from their current deal with ESPN. Furthermore, there may be a shift in the pay-per-view model, with TKO exploring creative options like revenue-sharing arrangements instead of fixed rights fees.

The UFC is reportedly seeking more than $1 billion per year in its next deal from potential suitors like ESPN, Warner Bros. Discovery (Max), Netflix, and Amazon Prime Video. With declining buy rates for UFC PPVs, the promotion is open to new strategies for airing events, whether on linear TV, PPV, non-PPV, or streaming platforms.

As the sports media landscape evolves, both WWE and UFC are navigating new opportunities and challenges in the ever-changing world of streaming entertainment. Stay tuned for more updates on these exciting developments!