Netflix Pays $5 Billion for ‘Raw’ in Bet on Live Events (4)

Netflix Inc. has acquired the exclusive rights to Raw as well as other programming from World Wrestling Entertainment, marking the video service’s first big move into live events.

The streaming giant agreed to pay $5 billion over the course of the 10-year deal, according to people familiar with the terms who asked to not be identified because the numbers aren’t public. A spokesperson for Netflix declined to comment.

WATCH: Nick Khan, WWE President, talks about Netflix buying the exclusive rights to “Raw” and other programming for $5 billion.

Source: Bloomberg

With the agreement, Netflix aims to bring in millions of loyal WWE viewers and provide a boost to its fledgling advertising-supported plan. The company has been dabbling in live events ...