WWE Is Coming To Netflix: What's Going On With TKO Group Holdings Stock?
Portfolio Pulse from Adam Eckert
TKO Group Holdings Inc (NYSE:TKO) stock rose after announcing a partnership with Netflix Inc (NASDAQ:NFLX) to bring WWE's weekly Raw programming exclusively to Netflix starting January 2025. The deal, with a 10-year term and rights fees over $5 billion, also includes all WWE shows and specials outside the U.S. TKO also appointed Brad Keywell and Dwayne Johnson to its board. TKO shares surged 22.2% to $94.60, while Netflix shares increased 1.61% to $493.51.
January 23, 2024 | 1:58 pm
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POSITIVE IMPACT
Netflix shares rose by 1.61% following the announcement of an exclusive partnership with TKO Group to stream WWE's weekly Raw programming and other WWE content.
Netflix's acquisition of exclusive streaming rights for WWE content, including Raw, SmackDown, and NXT, is likely to attract and retain subscribers, contributing to the company's growth. The stock's rise by 1.61% suggests a positive but more moderate investor response compared to TKO, likely due to the larger size and diverse content portfolio of Netflix.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
TKO Group's stock surged after announcing a transformative partnership with Netflix to stream WWE content, including a 10-year deal worth over $5 billion.
The partnership with Netflix is significant for TKO Group, as it not only brings a substantial revenue stream from the rights fees but also expands WWE's reach globally. The positive market reaction is reflected in the 22.2% stock price increase, indicating investor optimism about the deal's future financial impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100