WWE Raw will soon start to stream on Netflix

Netflix Inc (NASDAQ: NFLX) is in focus in premarket this morning after it made an announcement that marked its first major push into live sports.

Netflix will add Raw to its streaming platform

The mass media behemoth has partnered with TKO Group Holdings Inc (NYSE: TKO).

As part of that agreement, it will start to stream "Raw" - the flagship program of World Wrestling Entertainment (WWE) from 2025. The sports entertainment show draws well over 17 million unique views per year in the United States.

Note that Netflix Inc is also scheduled to report its financial results for the fourth quarter today after market close. Consensus is for it to earn $2.20 a share versus 12 cents per share a year ago.

Wall Street currently has a consensus “overweight” rating on $NFLX even though it’s already up more than 40% since its low in mid-October.

What's in it for TKO Group Holdings?

While Netflix does have a history of experimenting with live programming, it has never signed a long-term deal to stream live sports on its platform.

The agreement with the Nasdaq-listed firm is equally exciting for TKO Group as well since it will bring WWE to over 250 million subscribers across the globe. Earlier this month, Netflix was reported exploring ideas to boost gaming revenue as well (read more).

Also on Tuesday, the media conglomerate formed last year following a WWE-UFC merger said Dwayne Johnson – a former wrestling superstar and now a veteran actor will join its board. He was also granted full ownership of "The Rock" trademark.

Shares of TKO Group Holdings Inc are up roughly 20% in premarket on Tuesday.