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Netflix Inc (NASDAQ:NFLX) eyes new upside from live sports, the latest of which is Monday Night RAW, which debuts on January 6 under a deal with TKO Group Holdings, Inc (NYSE:TKO).
The streaming giant aims to introduce the world of professional wrestling to a broader global audience, offering them access to the show's unique mix of athleticism, drama, and larger-than-life personalities.
Liv Morgan, the current WWE Women's Champion, described RAW as an eclectic mix of violence, physicality, and costumes.
Also Read: Bearish Analyst Regrets Not Upgrading Netflix To Buy In 2023
CM Punk, a WWE legend, compared the freakishly strong, remarkably athletic wrestlers with mountain climbers with Netflix as their latest goal. He hailed the wrestlers as larger-than-life entertainers who will help Netflix penetrate into new households.
Cody Rhodes, the current WWE Champion, expects the audience to fall in love with somebody on the program or the program itself.
Punk expects stars like Rhea Ripley to draw audiences in and ensure they return week after week.
Previously, Netflix co-CEO Ted Sarandos flagged WWE as catering to the younger audience.
In November, Netflix streamed a live boxing event featuring a Jake Paul and Mike Tyson faceoff with 109 million people watching the fight globally. It hosted two National Football League games on Christmas Day with Beyoncé is performing at halftime.
Sarandos boasted of huge ad demand for the NFL games and upcoming WWE events.
The NFL game’s audience aligned with expectations for a usual dip in streaming versus TV, Rosenblatt's Barton Crockett noted. The analyst hailed NFL streaming as a positive shift for Netflix.
Oppenheimer's Jason Helfstein described Netflix as the sole investable mainstream media stock backed by ad potential from NFL Christmas Day games and live events.
Netflix stock surged over 80% in the last 12 months. Investors can gain exposure to the streaming giant through iShares Russell 1000 Growth ETF (NYSE:IWF) and The Communication Services Select Sector SPDR Fund (NYSE:XLC).
Price Actions: NFLX stock is down 0.85% at $873.59 at the last check on Monday.
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