WWE Nets Huge Fee Increase For NXT As Brand Leaves USA Network
WWE NXT is leaving the USA Network.
As first reported by Mike Johnson of PWInsider, NXT will be leaving the USA Network in 2024. The new five-year deal will see WWE NXT move to the CW Network in October 2024.
The financial terms of the agreement haven’t been disclosed, but Deadline has reported that the deal is worth “more than double” the $15 million WWE received for its current deal.
In the accompanying press release, Nick Khan talked up the “exciting opportunity” presented.
“The CW has made impressive moves over the past year with its live sports programming schedule. It’s truly an exciting opportunity to expand NXT’s audience by bringing the show to broadcast television for the first time in NXT’s history,”
CW Network president Dennis Miller added:
“We are thrilled to welcome the WWE brand into the CW Sports portfolio as they play an integral role in our mission to bring live sporting events to the network year-round.
WWE NXT is a perfect fit for The CW thanks to its dynamic young talent featuring the hottest rising stars in the sport and exhilarating, unpredictable weekly events. The passion and engagement of WWE’s fanbase is unmatched, and we are eager to grow that audience as WWE NXT’s new home on broadcast television.”
WWE NXT To Remain On Tuesdays
A further update from Fightful Select noted that the discussions had been ongoing for months, long before talk of a deal between CW and the NWA emerged. The new agreement was seen as particularly positive for the sports entertainment giant with the company netting an impressive rights fee increase, as well as potentially reaching a wider audience.
On the TKO Group earnings call, they referenced a 70% rise in rights fees, but Fightful adds that WWE sources state “that when you factor in the things they do, and all that’s included, they see it as more like a 200 percent increase.”
The current plan is for the show to remain on Tuesdays, but more discussions will take place nearer to the new deal kicking in.
The program itself is expected to remain very similar to how it looks now, with everyone involved with its current trajectory and ratings success.
With regard to the NWA, talent was said to be surprised by the news with one commenting they were “blindsided.” WWE sources do not believe a deal between CW and the NWA will now be made.
The company continues to speak with “multiple suitors” for Monday Night Raw.