Netflix CEO Was Asked Why The Streaming Giant Found WWE More Attractive Than NBA Or UFC, Here's What He Said
Portfolio Pulse from Ananya Gairola
Netflix Inc. (NASDAQ:NFLX) co-CEO Ted Sarandos explained the company's decision to partner with WWE over NBA or UFC, citing alignment with Netflix's 'sports storytelling' core and favorable deal terms. The partnership grants Netflix exclusive rights to WWE content, including 'Raw', 'SmackDown', 'NXT', and Premium Live Events, as well as documentaries and original series, starting from 2025. The deal is valued at $5 billion over 10 years.
January 24, 2024 | 4:50 am
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Netflix's partnership with WWE for exclusive content rights may attract and retain subscribers, potentially boosting the stock in the short term.
The exclusive partnership with WWE is likely to be viewed positively by investors as it enhances Netflix's content library and could drive subscriber growth and retention. The deal's alignment with Netflix's strategy and favorable terms may also reassure investors about the company's direction.
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