WWE announced earlier today that NXT will begin airing on The CW Network starting in October 2024, and new reports have shared more details on the story. It was noted in the TKO earnings call that the rights fee increase is 70% from the previous TV deal.
Fightful Select is reporting that the WWE-CW Network deal has been discussed for “months,” well before the reports of the rumored NWA-CW Network deal saw the light of day.
WWE believed that the negotiations moved swiftly and a source stated that the company is quite happy with the deal, as NXT has increased its revenue by millions and didn’t receive any rights fees five years prior.
WWE sources further suggest that the new deal with The CW Network feels like a 200% increase as opposed to the 70% jump, specifically for the TV rights themselves.
Deadline is reporting that the WWE-CW Network deal is “more than double” the $15 million rights fees that is currently in place.
According to a report from Pwinsider, one source suggested that the deal was “in the area” of $35 million to $37 million annually.
WWE NXT will continue to air on Tuesdays for the time being, however, there will be discussions as October 2024 gets closer.
WWE “is always open to conversations” if The CW Network needs to move NXT to a new day.
The belief is that WWE NXT will remain similar to the current format and continue to tape out of the WWE Performance Center (Capitol Wrestling Center).
While WWE is open to taping elsewhere or potentially even touring if the financial aspects allow for the same, one source noted that as of today, “We aren’t there yet.”
The belief is that any special events outside of the “themed” WWE NXT shows such as Halloween Havoc will continue to air on Peacock, PPV, WWE Network, and the like, and there haven’t been any discussions about specials on The CW as of yet.
WWE has been extremely happy with NXT’s viewership increases and that the cameos and appearances from main roster Superstars are expected to continue now that the deal is complete.
WWE NXT officials are also pleased with how things have worked out from ratings, talent evaluation, and performance perspectives.
Fightful Select also reports that the NWA talents they spoke to were surprised by the WWE-CW Network deal, and one was said to be “blindsided” by the news.
Sources in WWE do not expect that an NWA deal with The CW is even possible at this point.
It’s worth noting that no one has confirmed the report of the NWA coming to CW, and those within Billy Corgan’s promotion opine that the WWE deal has no bearing on any NWA conversations with The CW.
The general belief of those involved with the NWA is that the 12-episode reality series previously reported on was pitched to The CW with the potential of NWA Powerrr being streamed on The CW app.
As of today, the talks between the NWA and The CW are not dead.
At one point, The CW Network held extensive talks with Dave Marquez’s United Wrestling Network, and possible strategies had been discussed. However, WWE then entered the picture.
It’s unknown if UWN’s idea of a weekly live show out of Los Angeles will be shopped to other potential platforms.
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WWE’s NXT is set to make a big move in October 2024 as it begins airing on The CW Network. This new deal between WWE and The CW Network has been in the works for months, according to reports from Fightful Select. The negotiations moved swiftly, and WWE is reportedly quite happy with the deal.
The new agreement with The CW Network represents a significant increase in revenue for NXT. WWE sources suggest that the deal feels like a 200% increase, even though it is officially a 70% jump from the previous TV deal. Deadline reports that the new deal is “more than double” the current $15 million rights fees.
While NXT will continue to air on Tuesdays for now, discussions will take place closer to October 2024 to determine if the show needs to be moved to a different day. WWE is open to conversations with The CW Network regarding scheduling changes.
As for the format of NXT, it is expected to remain similar to its current setup. The show will continue to be taped at the WWE Performance Center, also known as the Capitol Wrestling Center. While WWE is open to taping elsewhere or even touring, there are no immediate plans for such changes.
Special events like Halloween Havoc will likely continue to air on platforms like Peacock, PPV, and the WWE Network. There have been no discussions about airing specials on The CW Network at this time.
WWE has been pleased with the viewership increases of NXT and plans to continue featuring cameos and appearances from main roster Superstars. NXT officials are also happy with how things have worked out in terms of ratings, talent evaluation, and performance.
The news of NXT’s move to The CW Network reportedly surprised talents from the National Wrestling Alliance (NWA). One NWA talent was said to be “blindsided” by the announcement. However, sources within WWE do not believe that an NWA deal with The CW is possible at this point.
It’s important to note that there has been no confirmation of the rumored NWA deal with The CW Network. Those involved with the NWA believe that the WWE deal has no impact on any potential conversations with The CW. The NWA had previously pitched a 12-episode reality series to The CW, with the possibility of streaming NWA Powerrr on The CW app.
While talks between the NWA and The CW are ongoing, The CW Network had previously held discussions with Dave Marquez’s United Wrestling Network (UWN). It is unclear if UWN’s idea of a weekly live show out of Los Angeles will be pursued with other platforms now that WWE is involved.
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In conclusion, the new deal between WWE and The CW Network represents a significant increase in revenue for NXT. The move to The CW Network opens up new opportunities for the show, and WWE is optimistic about the future of NXT on its new platform.