NXT to become exclusively available on The CW Network starting in October 2024, big increase in TV rights fees

WWE announced today that NXT will be moving from USA Network to The CW Network starting in October 2024. The show will continue air as it now does as a live weekly show 52 weeks a year. The CW is a broadcast network, which means it’ll be available without a cable or streaming subscription. It is also often carried on cable and streaming networks as part of the channel package, as is the case with other bigger broadcast network such as Fox and NBC, which has carried WWE programming in the past.

Ari Emanuel said in today’s investors call that the new deal with The CW is a 70 percent increase over the current NXT rights fees on USA Network.

“We are thrilled to welcome the WWE brand into the CW Sports portfolio as they play an integral role in our mission to bring live sporting events to the network year-round,” said Dennis Miller, President, The CW Network, in a press release issued today to PWTorch. “WWE NXT is a perfect fit for The CW thanks to its dynamic young talent featuring the hottest rising stars in the sport and exhilarating, unpredictable weekly events. The passion and engagement of WWE’s fanbase is unmatched, and we are eager to grow that audience as WWE NXT’s new home on broadcast television.”

NXT has experienced a surge in viewership in recent months as WWE has done more cross-promotion on Raw and featured bigger name guest appearances on shows regularly. It was part of a strategy to improve viewership levels during the negotiating period with networks for NXT TV rights.

The CW was home to WWE Smackdown in 2006 and 2007 before moving to MyNetwork, SyFy, USA Network, and Fox. It returns to USA Network next October.

The CW Network was negotiating and near announcing a deal with Billy Corgan’s NWA group, but the deal recently fell apart. A skit that recently the NWA aired with wrestling manager “Father” James Mitchell appearing to do a line of cocaine with other wrestlers and some women at a party, then passing it around led to CW execs souring on the alliance with the NWA. There was talk of the NWA show being relegated to The CW app rather than the broadcast channel. A PWTorch source says the CW deal likely would have funded the NWA to significantly raise their profile, with tens of millions of dollars in rights fees being part of the overall deal.

The following is the full press release which touted the increase in viewership this year comparede to last year in key demos.

THE CW NETWORK TO BECOME THE
EXCLUSIVE BROADCAST HOME TO WWE NXT

NXT Makes Broadcast Television Debut with Five-Year Deal Beginning October 2024

Network to Air Live Events Featuring
WWE’s Next Generation of Superstars 52 Weeks a Year

A group of people jumping in the air Description automatically generated

November 7, 2023 (Burbank, Calif. & Stamford, Conn.) – The CW Network will become the official broadcast home to WWE NXT in October 2024. The five-year agreement marks the first time in its 13-year history that WWE NXT – which showcases WWE’s hottest up-and-coming Superstars – will air on a broadcast television network. WWE NXT will debut on The CW Network in October 2024 and air 52 live weekly events throughout the season.

“We are thrilled to welcome the WWE brand into the CW Sports portfolio as they play an integral role in our mission to bring live sporting events to the network year-round,” said Dennis Miller, President, The CW Network. “WWE NXT is a perfect fit for The CW thanks to its dynamic young talent featuring the hottest rising stars in the sport and exhilarating, unpredictable weekly events. The passion and engagement of WWE’s fanbase is unmatched, and we are eager to grow that audience as WWE NXT’s new home on broadcast television.”

“The CW has made impressive moves over the past year with its live sports programming schedule,” said Nick Khan, WWE President. “It’s a truly exciting opportunity to expand NXT’s audience by bringing the show to broadcast television for the first time in NXT’s history.”

Launched by WWE Chief Content Officer Paul “Triple H” Levesque, WWE NXT has aired weekly since 2012 and features the brightest young talent in sports entertainment. Nearly 90% of the participants in last year’s WrestleMania were developed under the NXT banner. Led by WWE Hall of Famer Shawn Michaels, NXT is popular with younger audiences, ranking No. 1 in cable primetime on Tuesday nights last quarter among adults 18-49 and 18-34. Year to date, NXT’s average viewership is up 30% among adults 18-49. WWE Superstars, such as Roman Reigns, Seth Rollins, Charlotte Flair, and Becky Lynch, have come up through NXT.

WWE NXT joins a growing roster of live sports on The CW Network, including ACC football and basketball games airing every Saturday throughout the season and LIV Golf. The CW is also the new home of the Emmy-award winning weekly studio series “Inside the NFL” and will broadcast NASCAR Xfinity Series beginning in 2025. The network will soon offer more than 500 hours of sports programming year-round.

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ABOUT THE CW NETWORK

The CW Network, LLC is one of America’s major broadcast networks and reaches 100% of US television households. The CW delivers 15 hours of primetime entertainment programming per week in addition to over 300 hours of sports per year as the broadcast home to LIV Golf, ACC football and basketball games, “Inside the NFL” and the NASCAR Xfinity Series beginning in 2025. The fully ad-supported CW App, with more than 96 million downloads to date, is available for free to consumers on all major platforms and is home to the latest episodes and seasons of The CW’s primetime programming, live streaming of LIV Golf tournaments and a library of entertaining film and television content for on-demand viewing. The CW is 75%-owned by Nexstar Media Group, Inc. (NASDAQ: NXST), a leading diversified media company and largest CW affiliate group with 42 CW and CW Plus affiliates, covering 39% of the population. For more information about The CW, please visit www.cwtv.com.

ABOUT WWE

WWE, part of TKO Group Holdings (NYSE: TKO), is an integrated media organization and the recognized global leader in sports entertainment. The company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, premium live events, digital media, and publishing platforms. WWE’s TV-PG programming can be seen in more than 1 billion homes worldwide in 25 languages through world-class distribution partners including NBCUniversal, FOX Sports, TNT Sport, Sony India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video-on-demand library and is currently available in approximately 165 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network.