ESPN and WWE step into the ring with reported $1.6 billion, five-year streaming deal
WWE’s 10 biggest live events are poised to join ESPN’s new streaming platform next year.
ESPN is not content with being the worldwide leader in sports, and also wants to be among the most electrifying names in sports entertainment.
The Disney-owned sports network is teaming up with WWE in a reported five-year, $1.6 billion deal to stream 10 of the wrestling giant’s biggest events, including WrestleMania, Royal Rumble, and SummerSlam. Terms of the agreement were reported by The Wall Street Journal.
For context: that would be 80% above what Peacock reportedly paid, $180 million per year, for the same package in a previous deal. The partnership kicks off in 2026 and will bring WWE’s premium events to ESPN’s $29.99 per month direct-to-consumer platform, with some events simulcast on cable.
“In many ways, this is our destiny,” TKO CEO Mark Shapiro said in a CNBC interview. “If you want to expand the audience, our fan base, the fervor around WWE, and grow on a real significant national scale, you can’t do that as it relates to the sports world without partnering with ESPN.”
ESPN has been bulking up ahead of its streaming service launch. Yesterday, it announced a deal to acquire the NFL Network, RedZone rights, and other league-owned media assets in exchange for a 10% equity stake going to the NFL.
Disney is clearly trying to pump some muscle into ESPN after the sports giant eked out just 1% revenue growth last quarter.
Shares of TKO, which owns WWE, fell 2% on the news. Disney, which reported earnings Wednesday morning, also fell about 3%.
