WWEs billion-dollar streaming ambitions may be facing a reality check. While the companys deal with Netflix and existing relationship with Peacock have fueled major expectations for media rights revenue, early signs suggest those investments arent paying off as plannedespecially when it comes to actual viewer growth.
Speaking on Wrestling Observer Radio, Dave Meltzer raised concerns about WWEs media rights strategy and how much streaming platforms are actually getting in return. According to Meltzer, both WWE and UFC are seeking massive increasesupwards of 70%but platforms like Peacock have already overspent.
Meltzer pointed specifically to the performance of WWE Backlash on Netflix as a red flag. While the show marked one of WWEs first major premium live events on the streaming platform, it didnt appear to attract any new viewers outside the companys existing fanbase.
WWEs ability to drive viewership outside its core fanbase will be critical in justifying its current and future streaming deals. While major events like WrestleMania may hold more value, Meltzers assessment suggests that shows like Backlash arent delivering the kind of return Netflix was likely hoping for.
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Will WWEs deal with Netflix prove sustainable long-term, or is the company overestimating what its weekly and secondary shows are really worth? Please share your thoughts and feedback in the comment section below.
