Sony Pictures Network India was “eager to retain” TV rights for WWE matches despite the digital performance of content on its platform falling short of expectations
The new media rights will likely enable Netflix India to boost its subscription numbers, shore up viewership numbers and tap into sports fans in the country
While Netflix will start exclusively streaming WWE’s shows in markets such as the US, Canada, the UK, and South America in January 2025, it will start streaming in India by April
OTT giant Netflix will reportedly be the new home of World Wrestling Entertainment (WWE) matches in India. The streaming major will take over the media rights of the wrestling content from Sony Pictures Network India (SPNI) starting March 2025.
The move is part of a larger global $5 Bn agreement (spanning 10 years) signed between WWE’s parent entity, TKO Group Holdings and Netflix earlier this year, Economic Times reported.
The deal marks Netflix India’s foray into the sports entertainment category.
While Netflix will start exclusively streaming WWE’s shows (Raw, SmackDown, and NXT) in markets such as the US, Canada, the UK, and South America in January 2025, it will start streaming in India by April next year.
With this, Netflix India will take over the reins from SPNI, following the expiration of WWE’s current deal with the Japanese-owned broadcasting giant. It is pertinent to note that SPNI renewed its five year deal for broadcasting WWE in the country for an estimated $180 Mn to $210 Mn in 2020.
Citing sources, the report said that SPNI was “eager to retain” TV rights for WWE matches even as the “digital performance of WWE content on SPNI’s platform” fell short of expectations during the current rights cycle.
However, Netflix is said to have swooped in to gain exclusive rights for streaming the wrestling content in the Indian market in line with its broader global strategy. With this, the US-based streaming giant could be looking at bolstering its presence in the sports arena, a space which it largely steered clear of in India.
Even though sports, especially cricket, dominates online and TV ratings, Netflix India has not launched any such offerings. However, it now seems to have taken a detour and has started off with streaming WWE matches to bolster its presence among younger audiences.
The new media rights are part of Netflix’s strategy to boost its top line and shore up viewership numbers. But it remains to be seen if Netflix is able to translate the fanbase of WWE from linear television to a subscription-based streaming platform, especially in a price-conscious market like India.
Meanwhile, SPNI has somewhat been the home of WWE matches for more than two decades now. The erstwhile Ten Sports (later rebranded to Sony Ten) has been broadcasting the wrestling content since at least 2002. In 2016, SPNI acquired Ten Sports from Zee Entertainment for $385 Mn.
The loss of media rights to broadcast WWE content could be a “significant” blow for SPNI, which has been left with little to show for as behemoths like Reliance and Star India have acquired rights to all key sporting tournaments in India.
Notably, Netflix’s move to enter into the homegrown sports programming space comes at a time when the Indian broadcasting industry, especially, the online streaming space, is witnessing a major shakedown owing to the merger of the India media businesses of Reliance and The Walt Disney Company.
In November, the two parties completed the $8.5 Bn merger and paved the way for the creation of an Indian media juggernaut that operates over 100 TV channels and an aggregate subscription base of over 50 Mn on its two streaming platforms, JioCinema and Hotstar.
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