Update on WWE Moving WWE Network Content & PPVs to NBC’s Peacock Service

As noted before, WWE announced earlier this week that they have signed a deal with NBC to move their WWE Network service to NBC’s Peacock streaming service starting in mid-March. It was also announced that the United States version of the WWE Network will cease to exist as its own service afterwards.

Dave Meltzer reported in this week’s Wrestling Observer Newsletter that while most within WWE were aware that talks had been going on for months, they were still caught off guard over the deal involving the entire WWE Network being moved to a new service. Meltzer reported that USA Network officials were made fully aware of the nature of this deal months ago.

Meltzer reported that prior to the deal being signed, WWE had been generating around $132 million in revenues annually from their WWE Network service. Meltzer also reported that WWE is currently expected to generate a bigger profit than just the difference from the $200 million they will be receiving each year from NBC due to them being able to lower their operating costs for the WWE Network.

In regards to subscriber base, NBC’s Peacock service reportedly had around 33 million subscribers as of December 31, 2020 compared to around 1.1 million subscribers the WWE Network had in the United States as of late 2020.

Meltzer also reported that some business insiders currently believe that due to NBC growing even more tighter to WWE now, they might attempt to purchase the company in the future. Meltzer speculated that any potential deal to purchase the company would likely be between $4 billion to $6 billion based on WWE’s current and potential future market value.

In regards to WWE’s annual revenues, Melter reported that WWE will be earning around $670 million annually just from their current television contracts and deal with NBC for the WWE Network.

In regards to WWE Network’s staff, Meltzer reported that many within the department were fearful for the future of their careers in the company since they had been among the first to be furloughed last year. WWE officials reportedly had informed their WWE Network staff that they would be keeping their jobs for now but gave no guarantee that would remain the case in the future.