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PEACOCK STREAMING SERVICE WINS RIGHTS TO WWE NETWORK, EXISTING STREAMING SERVICE TO END IN MARCH

"Well, we have a lot of options. We can continue on as we are now with an enhancement of a free tier and a more enhanced paid tier. But we have that as an option. We also have an option -- I mean, right now, there's no more better time to exercise the selling of our rights to all the majors. And quite frankly, all the majors are really clamoring for our content. So that could be a significant increase, obviously, in terms of revenue." - Vince McMahon, 2/6/20, WWE Stockholders Earning Call.

In February 2020, WWE's Vince McMahon announced that the company was looking to sell the rights to the WWE Network.  Less than a year later, that deal has been consummated.

This morning, it was announced that Peacock, NBC's streaming service, has come to terms with a deal for World Wrestling Entertainment's American streaming rights and the WWE Network will soon be folded into their premium service, effectively ending the WWE Network that launched in 2014.  This has been announced as a multi-year deal and will be the new normal for WWE fans seeking live and VOD WWE content.

The WWE Network's current 1.1 subscribers will be migrated over to Peacock Premium, now paying $4.99 per month, where they will then access WWE content through Peacock Premium's tier with ads.  For ad-free access, the price would be $9.99, the same as the current WWE Network.  So, existing WWE Network subscribers would have complete access to all NBC Peacock content no matter what they pay.   

Peacock is believed to have 26 million subscribers compared to WWE Network's 1.1 million in the United States, putting FAR more eyeballs on WWE Network content.   If you are an existing WWE subscriber, you will be shifted over to Peacock and will then log in there on 3/18.  We are told in the weeks to come, there will be emails from WWE Networ advising subscribers on how the process will work.  

The new version of the WWE Network on Peacock will debut on 3/18 with 17,000 hours of WWE Network content via a Video on Demand library as well as a 24 hour linear WWE channel. 

WWE's live PPVs will all stream via Peacock as well, starting with the 3/21 Fast Lane PPV.    Wrestlemania's new dates, Saturday 4/10 and Sunday 4/11 now allow for a window for Peacock and WWE to insure the technology infrastructure will be correctly in place before WWE's most important weekend of the calendar year with Fast Lane as something of a guinea pig.

How much of the current version of the WWE Network's content will be part of the initial launch on Peacock remains to be seen, but what is being currently promised is every WWE live WWE PPV streaming on Peacock, WWE Network original series "like Steve Austin Broken Skull Sessions, Undertaker: The Last Ride and the all-new WWE Icons", WWE NXT, NXT UK,, 205 Live, replays of Raw and Smackdown, every WWE, WCW and ECW PPV "in history" and WWE documentaries "including WWE 24, WWE Untold, and WWE 365."   A WWE press release also promised one "signature documentary" annually starting in 2022.

As noted above WWE's Vince McMahon first announced the company's interest in selling the rights to the WWE Network on 2/6/20.  The next day, PWInsider.com's analysis of the landscape revealed that Peacock was by far, the most likely destination for WWE content.  

The announcement has become a major story on just about every entertainment news outlet.

On their end, WWE issued a press release as well as the following announcement via Stephanie McMahon:

I’m excited to share that this morning WWE and NBCUniversal announced a multi-year agreement that will make Peacock the exclusive home to WWE Network in the United States.

WWE was one of the first to launch a SVOD service, WWE Network, in 2014 to super-serve our most passionate fans with WWE’s most premium content as well as an incredible library of in-ring and original programming that has grown over the last seven years. Since launching last year, Peacock has amassed an incredible catalog of iconic movies and TV shows, along with the best of live news and sports, to which WWE Network will be a perfect complement.  

WWE and NBCU have been partners for nearly 30 years, and we consider this to be a natural extension of our long-standing relationship. Peacock will enable WWE to showcase our most significant events, including WrestleMania, which was previously available on WWE Network for $9.99 per month, to Peacock’s 26 million subscribers for $4.99 per month and for free to the millions of Comcast and Cox homes across the country, helping to better serve and grow our global fanbase.  

We are thrilled to bring WWE Network to Peacock beginning March 18, and to continue to create best-in-class sports entertainment content that will not only put smiles on people’s faces, but provide our fans with an experience worthy of their passion. 

-Steph

***

The official announcement was the first the majority of those working for WWE learned of the Peacock deal.  It was kept extremely close to the vest for obvious reasons.  We are told that even many who work on the Network itself learned of the deal when the official announcements were revealed.

The WWE Network launched in February 2014.  Peacock launched in July 2020.

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