Netflix will be paying WWE over $5 billion for a 10-year agreement after it secured the media rights for Raw starting from January 2025.

As part of the deal, Netflix can decide to terminate the deal after five years and it also has the option to extend it for an additional 10 years according to a filing by TKO.

But this deal goes beyond Monday Night Raw. This new deal will see Netflix become the home of Raw in the United States, Canada, United Kingdom, and Latin America from January 2025 with more countries to be added over time.

Also, Smackdown and NXT will be moving to Netflix to all viewers outside the United States and where there’s no television deal in place.

Plus, all WWE’s premium live events, including WrestleMania, WWE documentaries, original series, and future projects will also be moving to Netflix internationally beginning in 2025, suggesting that the WWE Network will probably cease to exist. The rights to these shows will remain as part of Peacock in the United States until that expires in 2026.

What’s interesting is that in the press release, the name of the show is referred to just as WWE Raw and nowhere it says Monday Night, which might mean that the show will be moving nights once it transitions to Netflix.

Netflix has over 77 million subscribers in the United States and 247 million subscribers worldwide.

The story received coverage on major news outlets this morning.