NEW YORK - TKO Group's stock experienced a significant 15% jump today, fueled by the announcement of a major deal with Netflix (NASDAQ:NFLX), which secures the streaming giant exclusive rights to WWE Raw starting in January 2025. This lucrative agreement, valued at over $5 billion, is a strategic move for TKO Group, positioning them favorably in the content distribution market.
Adding to the positive market reaction, celebrity Dwayne "The Rock" Johnson has joined TKO Group's board of directors, a decision that has been well-received by investors and fans alike. Johnson's appointment coincides with his participation in the New York Stock Exchange opening bell ceremony earlier today, a symbolic event that underscores his influence and the significance of his new role within the company.
TKO Group President Mark Shapiro, along with other top executives such as Ari Emanuel, expressed optimism regarding the financial future of the company post-deal. The partnership with Netflix is expected to open new revenue streams and expand the audience for WWE Raw, a flagship program in sports entertainment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.