"Netflix's WWE Deal: Impact on Sports Investment and Streaming History"

Netflix co-CEO Ted Sarandos clarified that the company's deal to license WWE's Raw for the next ten years does not signal a change in their sports strategy, emphasizing that WWE is sports entertainment, not traditional sports. Despite holding preliminary discussions with the NBA for possible streaming packages, Sarandos's comments suggest that Netflix won't be a near-term player in traditional live sports rights negotiations. The deal with WWE includes an out clause after five years and an option for Netflix to extend for an additional 10 years, reflecting a clear shift for Netflix into sports adjacent programming.