TKO CEO Ari Emanuel Stresses Importance Of Live Sports For Streaming As WWE 'Raw' Heads To Netflix
Portfolio Pulse from Erica Kollmann
TKO Group Holdings, Inc. (TKO) announced a $5 billion, 10-year deal with Netflix, Inc. (NFLX) to stream WWE's 'Raw' exclusively. The deal, which emphasizes the importance of live sports for streaming services, sent TKO's stock soaring over 20%. Netflix is expanding into live sports, having already streamed events like the 'Tour de France: Unchained' and the 'Netflix Cup'. The partnership will bring three hours of live WWE programming weekly to Netflix. Netflix's Q4 financial results mentioned ongoing investments in live programming. TKO, partly owned by Endeavor Group Holdings Inc (EDR), was formed to integrate UFC and WWE.
January 23, 2024 | 10:17 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Endeavor Group Holdings Inc, owning 51% of TKO, may see indirect benefits from TKO's deal with Netflix to stream WWE 'Raw', potentially impacting EDR's stock.
As the majority owner of TKO, Endeavor Group Holdings is likely to experience a positive impact on its stock due to the perceived value of the Netflix deal, although the impact may be less direct compared to TKO.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Netflix's deal with TKO to stream WWE 'Raw' aligns with its strategy to invest in live programming and sports entertainment, which could enhance subscriber engagement and growth.
Netflix's expansion into live sports programming with the WWE 'Raw' deal is likely to be viewed positively by investors, as it represents a strategic move to diversify content and potentially attract new subscribers.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
TKO's stock rose over 20% following the announcement of the $5 billion deal with Netflix to stream WWE 'Raw'. The deal highlights TKO's strategic move into live sports streaming and its potential growth in this sector.
The significant rise in TKO's stock price following the announcement indicates strong investor confidence in the deal's potential to boost TKO's revenue and market position. The long-term nature of the deal and its size suggest a substantial impact on TKO's future earnings.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100