ESPN nabs streaming rights for WWE events in $1.6 billion deal
The Walt Disney Co.'s sports media unit will pay around $1.6 billion in a five year deal with the WWE, which will begin in 2026. The rights fee is nearly double the $180 million a year paid by NBCUniversal, which carried the events on Peacock.
ESPN is launching its new streaming platform on Aug. 21. For $29,99 a month, consumers will get access to ESPN's channels and other content without a pay TV subscription.
The service will carry the 10 marquee events staged annually by WWE, which include Royal Rumble, Survivor Series and SummerSlam.
The deal comes after ESPN's announcement that the NFL is taking a 10% equity stake in the unit. In return, ESPN takes over the NFL's media properties, NFL Network and RedZone, giving the company more live games and exclusive content from the league.
While the WWE's programming is entertainment with predetermined outcomes, ESPN Chairman Jimmy Pitaro told the Times that the live events will help broaden the audience for the company's new streaming service.
'When you look at the WWE audience it is younger than what we typically see across other sports,' Pitaro said. 'It's more diverse and it is about 38% female which is a higher percentage of what we have at the network level.'
Pitaro noted that having major WWE events scheduled throughout the year will help the new streaming service retain subscribers who otherwise might check out when their favorite sports are not in season.
ESPN has aired wrestling programs in the past. The network carried matches from the American Wrestling Assn., a Minneapolis-based outfit, from 1985 to 1990.
ESPN already has strong business relationship with WWE parent TKO Group Holdings, as the network has carried the company's UFC events.
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