WWE ‘Raw’ moving to Netflix in shocking deal worth more than $5 billion

“Raw” has found a new home and it’s not on cable.

WWE announced Tuesday morning that its flagship show is going to Netflix in January 2025.

The deal is for 10 years and more than $5 billion, according to multiple reports.

It’s another move into the streaming space for the sports entertainment giant, which has its pay-per-view events — like the Royal Rumble and WrestleMania — air live on Peacock.

For Netflix, it’s a major step toward live sports entertainment as it has previously only dipped its toe into that area.

“We are excited to have WWE Raw, with its huge and passionate multigenerational fan base, on Netflix,” Netflix chief content officer Bela Bajaria told Variety.

“By combining our reach, recommendations and fandom with WWE, we’ll be able to deliver more joy and value for their audiences and our members. Raw is the best of sports entertainment, blending great characters and storytelling with live action 52 weeks a year and we’re thrilled to be in this long-term partnership with WWE.”

“Raw” currently airs on USA.