WWE Network move ‘a no-brainer’
STAMFORD — WWE’s streaming WWE Network will move later this year to NBCUniversal’s Peacock platform, a partnership that highlights how the two Stamford-connected companies are looking to compete in the increasingly competitive market for digital content.
Announced Monday, the multiyear agreement between Stamford-based WWE and NBCUniversal will give Peacock the exclusive streaming rights in the U.S. to the WWE Network. Beginning March 18 on Peacock, the initiative will incorporate more than 17,000 hours of new, original and library WWE Network programming including all of WWE’s live pay-per-view events such as WrestleMania.
“Starting on March 18, everything that our fans have gotten on WWE Network will be on Peacock, plus new additional content,” Nick Khan, WWE’s president and chief revenue officer, said in an interview. “Nothing is being missed. It’s all of our programming exclusively there. And in 25 million or so Comcast and Cox (subscribing) homes, Peacock is a free service. So to have WrestleMania for free for 25 million households is very attractive to us.”
Other WWE programming on Peacock will include original series, in-ring shows, WWE Network archives and documentaries. Launched last year, Peacock represents NBCUniversal’s flagship digital platform, including a vast library of scripted shows, films, news programming and sports coverage.
WWE’s top weekly shows, “Raw” and
“SmackDown,” will, respectively, remain on the NBCUniversal-owned USA Network and Fox’s broadcast channel. “Raw” has aired on USA Network since 1993.
“NBCUniversal has a long-standing relationship with WWE. … WWE has always tapped into the cultural zeitgeist with spectacular live events and larger-than-life characters, and we are thrilled to be the exclusive home for WWE Network and its millions of fans across the country,” Rick Cordella, executive vice president and chief revenue officer of Peacock, said in a statement. “WWE Network is a transformative addition to the platform.”
WWE Network will be available on Peacock Premium for $4.99 per month — a $5 monthly savings from the current WWE Network subscription rate. Members will have access to the entire WWE and Peacock catalogs, totaling more than 47,000 hours of premium programming.
An ad-free version of WWE Network will be available on Peacock Premium Plus for $9.99 per month.
“To be able to tell our fans, you get our product on the ad-supported service for half the price you’ve been paying for it and you also get ‘The Office,’ the Dick Wolfcreated franchises, English Premier League (soccer), etc. — it was really a no-brainer for us,” Khan said.
The companies said they would share details on managing customer accounts closer to the March launch.
WWE Network has operated as a standalone service since 2014. In the third quarter of 2020, the network counted an average of about 1.6 million paid subscribers.
“This agreement is a win for everyone. It’s the stereotypical ‘shot in the arm’ that WWE desperately needed, both financially and strategically,” said Josh Shuart, director of sports management at Sacred Heart University’s Jack Welch College of Business & Technology. “And for Peacock, it provides compelling proprietary content that can only boost interest in the paid tiers of their streaming app . ... To now have a full complement of professional wrestling, including pay-per-views, is an unexpected bonus.”
NBCUniversal maintains a major Stamford presence with operations that include its NBC Sports division. More than 900 employees are based at NBC Sports’ headquarters, a 300,000-square-foot complex at 1 Blachley Road, near Interstate 95’s Exit 9.
Last week, NBC Sports that it would shut down by the end of the year its flagship cable channel, NBCSN, and move much of the channel’s programming to Peacock and USA Network.
NBCSN has consistently ranked as the second-most-watched cable sports channel, but cable content is increasingly shifting to digital platforms. In 2018, ESPN, which has the most-watched cable sports channel, started its own streaming service, ESPN+.
“It’s a bit of a cluttered marketplace, and the question can be asked as to how many subscriptions does one expect people to maintain,” Khan said. “So as it became more cluttered, the idea of partnering with someone became more interesting to us.”