NXT, CW Deal Shows WWE Isn’t Afraid of Change; What Does This Mean for Wrestling Broadcast, Streaming Rights?

WWE’s latest move proves that anything is on the table when it comes to the new media rights deals for the wrestling promotion’s weekly programming. In September, it was announced that “WWE Smackdown” — one of two WWE signature weekly shows — would leave FOX for USA Network starting in October 2024. With that announcement, it would not have been out of the question for all WWE programming to wind up on NBCUniversal’s airwaves in some capacity, given the companies’ long history together. However, that won’t be the case.

• WWE “NXT” will air on The CW stations starting in October 2024.
• WWE “SmackDown” will begin airing on the USA Network next fall as well.
• Speculation is now building about the future home of WWE’s flagship show “Monday Night Raw.”

On Tuesday, the WWE revealed that starting next fall, new episodes of “NXT” — its developmental promotion — would air weekly on The CW. This would take the show off NBCUniversal platforms and put it into different, but not uncharted, waters. “NXT” previously aired on USA, and will continue to do so until to moves to The CW in October 2024.

This will be WWE’s first major investment into The CW, which itself is investing in live sports content, following years of syndicated reruns, shows based on DC Comics, and other teen-focused dramas. The WWE aired “Saturday Morning Slam,” a wrestling show aimed at young children, on the network for one season in 2012.

With current and past moves, it’s clear that WWE isn’t exclusive to NBCUniversal, despite deepening its commitment to its longtime network partner over the past few years. WWE shuttered its WWE Network in favor of putting its library content exclusively on Peacock and streams its monthly premium live events (formerly pay-per-views) there as well. But while “SmackDown” will return home to USA Network, “Monday Night Raw” may be headed out the door. It’s clear WWE is interested in diversifying its portfolio and isn’t afraid to switch networks, even with “Raw,” which we’ve seen in the past.

The History of WWE Switching Networks

In 2000, WWE took “Raw” off USA Network and moved it to TNN (now truTV) due to disagreements with NBC. Eventually, the program returned to USA Network in 2005, but NBC missed out on the show’s high viewership numbers back when wrestling was regularly hitting ratings figures only NFL games get these days. Since then, WWE programming has provided steady, but not particularly high viewership, especially in the highly sought-after 18-49 demographic.

During its last media rights deal, WWE took Friday Night “SmackDown” off USA Network and moved it onto FOX, a longtime competitor of NBCUniversal, because it got a deal it couldn’t refuse. While the deal didn’t result in a renewal with FOX, it proved that WWE could secure airtime on a major broadcast network. No doubt, this is motivating WWE to secure a new, major broadcast home for “Monday Night Raw.”

“Smackdown” will continue to air on FOX through the end of this television season, then it will move to USA in October of next year.

What’s Next For ‘Monday Night Raw’?

Now that “SmackDown” and NXT’s rights are accounted for, all that’s left for WWE is to find a future home for Monday Night “Raw”. The question is, where would that be, and how large of a move is WWE willing to make for its flagship show?

Rumors and speculation have tied “Raw” to a multitude of broadcast homes, including, but not limited to, ESPN, FX, Amazon Prime Video, Apple TV+, and even WarnerBros. Discovery’s TNT, TBS, or Max streaming service.

Much of the uncertainty around the WWE’s future is a result of the wrestling promotion being acquired by Endeavor in April. The company also owns the UFC and has put the two combat sport organizations into a new organization called TKO. Because UFC has a positive partnership with ESPN — very similar to WWE and NBCU’s — some believe that the leading brand in sports entertainment could eventually land on the worldwide leader in sports.

Of course, if “Raw” did move to ESPN, it would likely require some rearranging of schedules, since the cable channel is already the home to the NFL’s “Monday Night Football.” Internal rumors have indicated that WWE would be willing to move “Raw” off its iconic Monday night in favor of a different night, should the broadcast partner want it.

Theoretically, it could also stay with its longtime partner USA Network, but returning home could seem like a loss for WWE. Granted, given the uncertainty around traditional linear broadcasting, especially coming out of both writers and actors strikes, “Raw” could further solidify its relationship with NBCU and move to NBC. While that is not the most likely scenario on the table, as we’ve seen with WWE, nothing is too outrageous.