Netflix Jumps Into The WWE Ring
Issue #140 — The WWE affords Netflix the space and time to perfect its live sports approach.
Netflix Jumps Into The WWE Ring
Should we really believe Netflix when it denies a programming or business decision?
For years, the streaming giant said they were the place where you could watch content free of ads; then what happened? In 2022, they introduced an ad tier.
For years, Netflix said you could share your passwords with as many people as you wanted, and they wholeheartedly encouraged it. Then what happened? In 2023, they crackdowned on password sharing.
For years, Netflix has been saying that live sports is an arena that they will not be playing. You can guess what happened, right?
Netflix, in a 10-year deal with TKO Group Holdings, will air WWE’s Raw in the U.S., Canada, U.K., and Latin America and become the home for all WWE shows and specials outside the U.S., including SmackDown, NXT, WrestleMania, SummerSlam, and Royal Rumble.
NBCUniversal’s USA Network currently holds the U.S. rights to these events.
This deal worth $5 billion is Netflix’s dipping its toes further into live sports, an area it had said it would not get into, but here we are.
Of course, this is not coming out of the blue; Netflix has been slowly wading into sports, especially live sports programming. Its sports docuseries franchise made Formula 1 a global phenomenon, and in 2023, it aired live The Netflix Cup, a golf event showcasing Formula 1 and the PGA Tour — the streamer’s first-ever live sports event.
The streamer, which revealed in its most recent earnings report that it added 13.1 million subscribers, its largest-ever fourth-quarter growth, is feeling confident about how it is approaching sports.
It can even be said that it is not really diving into live sports as WWE, despite its physicality, is more structured entertainment. But investing in WWE means that Netflix is serious about sports.
The WWE allows Netflix to fine-tune its live sports operation and see what works and what doesn't. The scripted entertainment style of the WWE affords it time and space to make blunders and avoid embarrassment amongst its media peers.
Once it figures out how to do live sports, then the big traditional media broadcasters need to watch out as its deep pockets and a huge subscriber base of 260 million makes it a tempting option for the NFL, NBA, MLB, MLS, EPL, WTA, and even the IOC.
Live sports creates value for Netflix and makes it a product that is hard to drop, even when they raise prices, which will likely happen with the WWE joining its lineup.
With this acquisition, the streamer separated itself from its competitors and cemented itself as the true global entertainment platform.
(CNBC, Reuters)
RECAP
CNN Broke The Doc Rivers News Under Some Unusual Circumstances
Tuesday was a busy night for CNN as it was covering the New Hampshire primary. The news network takes its political coverage seriously and devotes a lot of airtime to crucial political events. Yet, on this busy night, the network managed to break some non-political news that is not typically in its wheelhouse, which was famed NBA coach Doc Rivers would be named head coach of the Milwaukee Bucks. Yes, CNN broke that news. It even astounded former NBA player Jamal Crawford when news of it was announced on TNT, the first outlet to relay the breaking news. Alright, you can say that CNN is a news network, and it should cover and be able to break all kinds of news, but this particular episode brought more scrutiny as to how CNN was able to even top renowned NBA beats writers like ESPN’s Adrian Wojnarowski and The Atheltic’s Sham’s Charnia. After all, when the news was announced, Rivers was still an ESPN employee, having joined the network during this past NBA offseason to be part of its marquee in-game announcing team. CNN does have a sports division and produces some sports programming. International viewers will be very familiar with its World Sport program, which has existed since the nineties. On the domestic front, the network has been known to produce some sports specials during big-time events like the Super Bowl. Former NFL player Coy Wire and sports reporter Andy Scholes are some of the on-air talent working for CNN Sports and are featured regularly on the air, so it shouldn’t be a surprise that it can break the news. But this one felt different; no particular reporter took ownership of the breaking news. It took a while for the story to appear on any of its digital platforms, and when the network finally published a story, it had the CNN Staff byline under it. It was not fortuitous luck; the network did indeed break the news, and rather than interrupt its political coverage, it offloaded it to TNT, which had NBA games on its schedule that night. (NBA on TNT/X, Front Office Sports, New York Post)
What’s ESPN’s Next Move After Doc Rivers’ Depature?
Doc Rivers returning to the NBA’s coaching ranks has put ESPN in a bind. Rivers was brought on to be part of the network’s marquee in-game announcing team, joining long-time play-by-play announcer Mike Breen and rising star NBA analyst Doris Burke. This team replaced the one that featured Jeff Van Gundy and Mark Jackson, a crew that had been together for 15 NBA Finals. Van Gundy and Jackson were unceremoniously axed following a stringent directive from ESPN’s parent company, Disney, to cut on-air costs. Getting used to a new announcing crew takes time for viewers as well as for the crew, with each member learning the other’s moves and cues. This new crew didn’t even last till the NBA All-Star break, and now viewers must contend with this sudden change as a result of Rivers leaving Breen and Burke hanging. So, what should ESPN do? Should it continue the two-some of Breen and Burke, or will another third member be added to the mix? It will need to come up with an answer fast. (New York Post)
Paramount Global Layoffs Will Affect CBS News, CBS Sports
January has been a very tough month for the media industry as many outlets conduct layoffs. These layoffs have taken place across broadcast, print, and digital entities, with some of the reasons including declining revenue options, shareholder pressure, and possibly advancement of AI technologies that have led to this latest round of staff trimming. Joining this group soon is Paramount Global, the parent company of CBS News, CBS Sports, and Paramount Plus, as its CEO, Bob Bakish, informed staff in a company-wide memo that the organization needs to “operate as a leaner company and spend less.” Pointing to shareholder pressure as the nexus for these cuts, Bakish said, “Our priority is to drive earnings growth. And we’ll get there by growing our revenue while closely managing costs — a balance that will require every team, division, and brand to be aligned.” He added, “Where possible, we’ll look to expand our shared services model as we streamline operations. As it has over the past few years, this does mean we will continue to reduce our workforce globally.” He did not offer a timetable for when these cuts would happen or which units would be affected. However, it is believed that more details will be provided when the company reports its quarterly earnings at the end of February. This slimming down announced by Bakish could also be the company preparing for the rumored takeover by David Ellison’s SkyDance Media, which has expressed interest in taking the media conglomerate private. (CNBC, Bloomberg)
QUICK RECAP
In Memoriam: Legendary CBS Sunday Morning host Charles Osgood passes away at 91. (CBS News)
Profile: Yalda Hakim on what viewers should expect from her internationally focused nightly Sky News program. (PressGazette)
Design: PBS updates its election coverage look. (NewscastStudio)
Legal: Fox News’ counterclaim against Smartmatic can proceed, judge rules. (Los Angeles Times)
CNN: State of The Union anchors Jake Tapper and Dana Bash mark 15 years of the news program. (TVNewser)
Politics: Election 2024 may not lead to big ratings for news networks like past elections. (Bloomberg)
Politics: MSNBC’s Rachel Maddow will interview E. Jean Carrol post-Trump trial. (Deadline)
Awards: MSNBC’s Joy Reid, ABC News’ Robin Roberts, and The View cohosts were nominated for NAACP Image Awards. (TVNewser)
Awards: Two duPont-Columbia Silver Baton Awards were handed to ABC News. (TVNewser)
Programming: CNN unveils new docuseries that looks at Las Vegas. (CNN Press Room)
Programming: ABC News’ What Would You Do? is back for season 16. (TVNewser)
Sports: The Kevin Burkhardt and Greg Olsen pairing on Fox Sports likely ended with the NFL’s NFC Championship game. (Sports Illustrated)
Sports: CBS Sports’ Jim Nantz and Tony Romo’s chemistry is off right before the Super Bowl. (New York Post)
Sports: Behind the scenes, look at how CBS Sports produced its NFL Divisional Playoff matchup. (The Athletic)
Streaming: Peacock generated 2.8 million signups for its NFL Wild-Card match-up. (Variety)
Streaming: What will the MLS and Netflix’s 10-year partnership look like? (The Guardian)
Streaming: Pluto TV rolls out a pop-up channel that will air past NFL Super Bowl games and special programming geared towards the Big Game. (Cablefax)
Streaming: Netflix debuts Six Nations Rugby docuseries. (Broadcasting+Cable)
Ratings: The Big Ten Women’s College Basketball game between Iowa and Ohio State has been the most-watched regular season women’s college basketball game since 2010. (NBC Sports Press Box)
Ratings: CBS Sports NFL Divisional Playoff matchup between Kansas City Chiefs vs. Buffalo Bills is the most-watched divisional playoff game ever for 50 million. (Mediate)
Ratings: NBC Sports’ NFL Divisional Playoff matchup between the Tampa Bay Buccaneers and the Detroit Lions averaged 40.4 million. (NBC Sports Press Box)
Ratings: ESPN’s NFL Divisional Playoff matchup between the Houston Texans and the Baltimore Ravens was the network’s most-watched game ever, with 31.8 million viewers. (ESPN Press Room)
Media: Why the narrative of cable news is dying was wrong. (Politico)
Media: NBC News was part of the January layoff bloodbath. What is causing it? (The Wrap)
Media: Sports leagues need TV as much as TV needs them. (Sportico)
Media: Disney’s Bob Iger is not enjoying his sequel as CEO. (The Wall Street Journal)
In: Ryan Beckwith joins MSNBC as the newsletter editor of its digital operations. (Talking Biz News)
In: Jeff Collins from Fox News Media to Fox Corp. to be its new ad-sales chief. (Variety)
In: Lisa Respers France named Reporter by CNN. (CNN Press Room)
In: CNN names Michael Yoshida, a CNN Newsource correspondent based in Washington, D.C. (CNN Press Room)
In: John Fritze joins CNN as a Supreme Court reporter. (CNN Press Room)
In: Abigail Mobbs joins BBC News as Senior Editor for Social News. (BBC News Press Team/X)
In: Caitlyn Becker joins NewsNation as a National Correspondent. (TVNewser)
In: CNBC names Christina Passariello as its San Francisco Bureau Chief. (TVNewser)
In: Mike Calia was named Managing Editor of Business Economy Unit at NBC News. (TVNewser)
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A MarkHenry Media LLC publication - Issue #140 - 2024