WWE Set to Take Over Netflix as Broadcasting Rights Change in India

In a shocking move, global entertainment giant WWE (World Wrestling Entertainment) is set to shake up the Indian sports broadcasting space with its new deal on Netflix. Starting January 2025, fans in key markets like India will have access to WWE's popular events such as Raw, SmackDown, NXT, and Premium Live Events (PLEs), marking a historic shift from Sony Sports Network.

The $5 billion, 10-year agreement between WWE and Netflix is touted as the streaming giant's bold foray into sports entertainment. With this deal, fans in USA, UK, Canada, South America, and India will have access to WWE content on Netflix. This strategic partnership aims to tap into the massive worldwide following of WWE, with its Indian audience expected to play a pivotal role.

The current broadcasting rights holding company in India, Sony Pictures Network India (SPNI), will be losing out on an estimated $120-180 million annual revenue stream as their deal comes to an end in March 2025. The overlap period will enable fans to catch WWE on both Sony Sports Network and Netflix until the new year, with Netflix set to become the sole streaming platform for WWE events after that.

The partnership is expected to bolster NBA's subscriber base in India by leveraging WWE's popular fan following. With just 12 million subscribers, Netflix aims to ride this wave of popularity to grow its Indian market share, which currently accounts for a relatively small fraction of its global audience.

However, the deal comes with stiff competition from giants like Disney+ Hotstar and JioCinema, who dominate the Indian sports streaming space with high-profile events such as the IPL and ICC tournaments. For Netflix, this partnership is crucial to revitalize growth in the country's burgeoning streaming market. On the other hand, SPNI will lose a pivotal player to WWE, which was one of its crown jewels.