World Wrestling Entertainment Inc (NYSE: WWE), one of the world’s most recognizable sports media companies, announced that it would supply its content to Peacock, a streaming service co-owned by the Comcast Corporation (NASDAQ: CMCSA).
A multi-year deal has been reached between Comcast and World Wrestling Entertainment that shows WWE content on the Peacock streaming service. From March 18, subscribers of the streaming service will have access to previous battles and new performances. The total streaming hours will amount to about 17,000 hours. Peacock subscribers will be able to watch live events from World Wrestling Entertainment, including the smash hit WrestleMania, which is slated for March 28 this year.
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World Wrestling Entertainment has selected Peacock as its exclusive partner in the showcase fights. Peacock Premium subscribers will have access to this content. However, WWE will air the matches simultaneously on WWE Network. Comcast and WWE noted that Peacock Premium is 50% cheaper than a WWE Network subscription and starts at just $4.99 per month.
The details of the deal between World Wrestling Entertainment and Comcast, including the financial component and the exclusive contract duration, have not been released until now, so there are no details regarding the financial part and the exclusive duration contract.
The main source of revenue for World Wrestling Entertainment comes from content production and distribution. Despite that, the company has seen a decline in subscribers in recent years. Their numbers declined in the previous two years to less than 1.4 million by 2019. There was a small increase in viewership due to the COVID-19 pandemic, which forced people to stay at home. Consequently, the audience grew to 1.7 million visitors in 2020. The contract with Peacock is a further attempt to expand the viewership.