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Shares In Endeavor-Controlled TKO Group Jump On Netflix-WWE ‘Raw’ News
Shares in Endeavor-controlled TKO Group Holdings shot up at the opening bell and were up 15% at mid-day on the news of Netflix acquiring rights to the Raw franchise and other WWE programming. The s…
Shares in Endeavor-controlled TKO Group Holdings shot up at the opening bell and were up 15% at mid-day on the news of Netflix acquiring rights to the Raw franchise and other WWE programming. In a note to clients, Michael Morris of Guggenheim called the Netflix-WWE agreement “value enhancing for both parties.” Netflix gains attractive properties for advertisers (whose brands will leave impressions even on subscribers on ad-free tiers) at a “meaningful but measured” level of spending. In airings on Monday nights on USA Network (thought it could possibly shift to another day when it gets to Netflix in January 2025), Raw has averaged 17.5 million viewers a year on linear TV.
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