The TKO Group could be making major media moves with new deals for WWE and UFC, according to MoffettNathanson analyst Robert Fishman. In
the Puck newsletter, Fishman made predictions on the streaming future of WWE Premium Live Events (PLE) and the upcoming UFC media deal.
Since 2021, NBCUniversal’s Peacock has been
the exclusive streaming home of the WWE Network, including WWE PLEs in the United States. The multi-year deal expires in March 2026, and the
WWE has since agreed to a 10-year deal with Netflix, bringing international distribution of the network and domestic rights to
WWE Monday Night Raw to the platform.
Fisherman predicts that Netflix will expand its professional wrestling content by adding US rights to PLEs in a $350 million per year deal with the promotion.
“It only makes sense that Netflix would want to unify global ownership of the PLE rights to enable it to better drive sponsorship and advertising around the package,” Fishman wrote in the
newsletter. “It only makes sense that Netflix would want to unify global ownership of the PLE rights to enable it to better drive sponsorship and advertising around the package,” he continued.
As for
Peacock, ‘NBCUniversal may look to move on from the package after securing NBA rights,’ Fishman writes. Starting in October,
the NBA returns to NBC for the first time in over two decades, which could mean the network focuses on programming built around basketball. The network is set to air over 100 NBA games each season as part of the new deal, and reports indicate
NBC is “intrigued” in adding MLB Sunday Night Baseball.
Running the floor with basketball and hitting a home run with baseball aren’t the only sports that NBC is reportedly interested in. Reports indicate
NBC may cross the finish line with a bid on Formula One, which aired on the network from 2012 to 2017.
Although the WWE-NBC relationship dates back to 1985, and the USA Network currently airs
WWE SmackDown, with an ever-changing sports media landscape, the PLEs face tough competition. Additionally, Peacock is a big part of NBC’s future strategy as
it spins off its linear TV channels, the company continues to carefully evaluate the financial implications of its content investments.
As for WWE’s sister company, the UFC’s next media deal could surpass $900 million per year and split into two packages, according to Fishman. Fishman wrote that if the fighting promotion does hit the $900 million mark, it would be 1.6x more than
their current deal with ESPN.
The next rights deal for fights inside the Octagon could see a huge change in the pay-per-view model. Fishman writes, ‘TKO also has the ability to be even more creative with its rights, including a possible PPV revenue share arrangement to share in potential upside rather than receiving a fixed rights fee, as the ESPN deal is currently constructed.’
Buy rates for UFC PPVs have reportedly declined, and the UFC’s parent company has said that they are “super flexible” when it comes to how events air in the future, whether on linear TV, PPV, non-PPV, or streaming. UFC reportedly wants more than $1 billion per year in its next deal, whether it is split up across multiple networks or on a single platform.
ESPN, Warner Bros. Discovery (Max), Netflix, and Amazon Prime Video have
all shown interest in the UFC.
"Looks we are the same After All..."
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