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Will WWE Raw and SmackDown going to Netflix impact the WWE Universe?

By Amit Shukla

MIAMI GARDENS, FLORIDA - JULY 23: Wale onstage during the WWE Smack Down on day 1 at Rolling Loud Miami 2021at Hard Rock Stadium on July 23, 2021 in Miami Gardens, Florida. (Photo by Jason Koerner/Getty Images)
MIAMI GARDENS, FLORIDA - JULY 23: Wale onstage during the WWE Smack Down on day 1 at Rolling Loud Miami 2021at Hard Rock Stadium on July 23, 2021 in Miami Gardens, Florida. (Photo by Jason Koerner/Getty Images) /
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WWE has changed since the new regime took over. The change has helped ratings and boosted the roster’s morale. WWE Universe seems to be connected with it, but will it all change soon? Will viewers have to watch programming on a streaming platform instead of cable tv? The question arises after WWE’s Co-CEO Nick Khan made some comments during the Q2 earnings call. Will WWE put an additional burden on the fans and ask them to pay more? Will the fans have to buy an external subscription to watch weekly programs like Monday Night Raw and Friday Night SmackDown?

The earnings call got hosted by Chairwomen and Co-CEO Stephanie McMahon, Co-CEO Nick Khan, Head of Creative Paul “Triple H” Levesque, and Chief Financial Officer Frank Riddick. The earnings call discussed the improvement in weekly show ratings. Nick Khan talked about the cable tv rights, which would be up for renewal in 2024. NBCUniversal and FOX currently hold the rights for WWE Raw and SmackDown, respectively. Khan talked about how Netflix could be a potential bidder. We all know how Netflix placed a bid for the streaming rights of Formula 1. Nick Khan commented:

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“On Netflix, we’ve been saying on these calls for many months that we believe Netflix is looking to enter the live space. We got confirmation of that this past quarter when Netflix made a bid for the rights for Formula 1. We believe Netflix’s appetite for live (programming) will only increase after the introduction of their ad tier. As we all know, the strongest CPMs are those sold against live programming,” [h/t: Comicbook]

Khan also mentioned that Alphabet Inc., which is Google’s parent company, and Apple have also placed bids in the past year for live programming. Does it mean that they may bid for WWE’s product in 2024? Whether that happens is a question in the unknown, but what’s known is that WWE wouldn’t gain fans by going to a specific platform for streaming their weekly live shows.

Cable TV helps millions of fans access weekly television at no additional cost. If WWE goes to a streaming platform, that will increase the financial burden for the WWE Universe. They would have to purchase an extra subscription to watch their favorite shows. On the contrary, WWE can keep things as they are and have their weekly shows on cable tv, while fans who want access to other content can go to Peacock TV and watch their favorite shows.

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The weekly ratings have been the decision maker on whether a program is going well or it needs an improvement. If WWE goes online, then the possibility of improving their product will go downhill, as will people’s access and their willingness to watch the product. So this doesn’t seem to be a ‘Best for Business’ idea unless WWE wants to make a wrong move and lose its fans to its nemesis.

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