WWE Network's Peacock deal reportedly worth over $1 billion

WWE's new deal with NBCU for the WWE Network is reportedly worth over $1 billion to the company, according to reports.

In a move that shocked many, WWE announced today that the WWE Network will become exclusively available to the Peacock streaming service for users in the United States.

It has now been reported by The Wall Street Journal that the deal between the two entertainment titans, which is due to begin in March of this year, is worth over a staggering $1 billion dollars and will see the partnership last for at least five years.

Here is an exerpt taken from the report by Joe Flint:

"Terms of the pact weren’t disclosed. A person familiar with the deal said it runs five years and is valued at more than $1 billion. Under the agreement, the WWE will shut down its WWE Network streaming service in the United States in mid-March, and Peacock will license the programming, including the popular “WrestleMania” franchise, for its own platform."

Given that Peacock is home to many more subscribers than the WWE Network, amassing around 22 million subscriptions in only its first six months, the move can only be seen as a positive and highly profitable one for WWE which will allow their product to be seen by a potentially much larger audience.

Stephanie McMahon on the WWE Network/Peacock deal

Excited for @peacockTV to become the new home of @WWENetwork in the U.S., helping to bring premium @WWE content (including @WrestleMania!!!) to a much broader audience and to provide the @WWEUniverse with a wide offering of live sports, news, film & TV! https://t.co/MPzcxjL3IV
— Stephanie McMahon (@StephMcMahon) January 25, 2021

As well as taking to Twitter, WWE CBO Stephanie McMahon also released an official statement expressing her excitement and optimism at the new partership between Peacock and WWE.

Here is just some of what Stephanie McMahon had to say:

"WWE and NBCU have been partners for nearly 30 years, and we consider this to be a natural extension of our long-standing relationship. Peacock will enable WWE to showcase our most significant events, including WrestleMania, which was previously available on WWE Network for $9.99 per month, to Peacock’s 26 million subscribers for $4.99 per month and for free to the millions of Comcast and Cox homes across the country, helping to better serve and grow our global fanbase."

WWE fans can continue to watch the WWE Network in the United States as it stands currently, until the deal comes into effect on March 18 2021.