WWE set to shift Indian media rights from SPNI to Netflix in $5 bn deal

Netflix India is set to stream WWE content starting April 2025, marking its debut in Indian sports entertainment and ending WWE's two-decade partnership with SPNI

World Wrestling Entertainment (WWE) is set to transfer its media rights in India from Sony Pictures Networks India (SPNI) to Netflix India. This move is part of a global 10-year agreement worth $5 billion, signed by WWE’s parent company, TKO Group Holdings, with Netflix earlier this year, according to a report by The Economic Times. 

The shift in media rights is scheduled to begin after March 2025, coinciding with the expiration of WWE’s current contract with SPNI. Back in 2020, SPNI renewed its rights to WWE content for an estimated $180-210 million over five years.

 

SPNI’s position amid Netflix’s expansion 

Sources indicate that SPNI was eager to retain television rights despite WWE’s global deal with Netflix. The digital performance of WWE content on SPNI’s platform reportedly fell short of expectations during the current rights cycle. However, Netflix aims to secure exclusivity in the Indian market, aligning with its broader global strategy. 

This agreement marks Netflix India’s debut in sports entertainment. Globally, the streaming giant has ventured into live sports through partnership with the National Football League. However, in India, Netflix has so far steered clear of the sports market, including cricket — a sport that dominates both television and digital viewership in the country. 

A Netflix India spokesperson confirmed the availability of WWE content on the platform from 2025 onwards, the report mentioned.

 

WWE content on Indian television

  WWE programming has been a constant presence on Ten Sports since 2002. SPNI acquired Ten Sports in 2016 from Zee Entertainment for $385 million and rebranded it as Sony Ten. The collaboration between WWE and SPNI’s networks has lasted over two decades.

 

Exclusive global streaming 

Starting January 2025, Netflix will exclusively stream WWE’s marquee shows — Raw, SmackDown, and NXT — in key markets, including the US, Canada, the UK, and South America. By April 2025, the deal will extend to India, a critical market for WWE’s global growth ambitions. 

Netflix co-CEO Ted Sarandos has highlighted the platform’s focus on unique, global, and youth-driven sports content. Sarandos said that sports leagues are also keen to attract younger, global audiences to ensure long-term success, as mentioned by the report. 

Industry experts caution that migrating WWE’s fanbase from linear television to a subscription-based streaming platform could prove challenging in India. The country’s television audience is estimated at 900 million, significantly higher than its 547 million streaming users.

  For Netflix India, which currently has 12 million subscribers, this partnership presents an opportunity to expand its user base. The platform aims to attract WWE’s dedicated fans, potentially driving substantial subscription growth.

 

SPNI’s next steps 

The loss of WWE is a significant blow for SPNI, where it has been a cornerstone of sports programming. Analysts suggest that SPNI may need to pivot towards alternative sports entertainment content to retain its audience. Recently, SPNI acquired the Asian Cricket Council rights for $170 million. 

Netflix will face stiff competition from established players like Disney+ Hotstar and JioCinema, which dominate India’s sports streaming space with marquee offerings such as the Indian Premier League and International Cricket Council tournaments.