MUMBAI: Just under five months after SportzPower, in a worldwide exclusive, reported that Sony Pictures Networks India (SPN) had renewed the media rights it held to World Wrestling Entertainment (WWE), which owns popular wrestling properties RAW and Smackdown, comes the official announcement.
SPN and WWE Tuesday announced a five-year extension with an expanded broadcast agreement that will deliver WWE’s weekly flagship programming and localized content in India and the Indian subcontinent, making SPN the exclusive home to WWE in-ring content across its television and digital platforms.
SPN secured the WWE rights for the Indian subcontinent as a legacy property when it acquired the Ten Sports Network from Zee Group for Rs 26 billion in September 2016.
For the record, it was in 2014 that Ten Sports had renewed the WWE media rights it had long held for $137.5 million for five years. As a clause in the deal, Ten Sports (now Sony) had the first right of refusal for the highest rating international property in this market. The America headquartered, integrated media and entertainment company, had put a price tag of anywhere between $250-280 million on it when it began its renewal negotiations with SPN and with other potential media partners (read Star India).
As for the deal size, industry sources had told SportzPower back in November that it was definitely north of $200 million but well below the $250-280 million that was initially being shopped around by WWE. SportzPower’s educated guess then was, and remains, between $215 million and $225 million.
As part of the agreement, SPN will have the rights to air Raw, SmackDown, NXT as well as WWE pay-per-view specials live on its sports and digital platforms in English, Hindi and regional languages.
The expanded partnership also provides SPN the rights to WWE Network which hosts thousands of hours of content to be made available to audiences in India exclusively through SonyLIV, SPN’s OTT platform. In addition and for the first time, SPN will curate content from WWE’s extensive video library which includes live events, iconic matches, interviews with Legends, reality shows, documentaries and more, on its own platforms.
WWE will also return to India with even bigger live events and Superstars will visit the region for promotional tours to engage with fans.
For the record, the rights renewal negotiations on behalf of WWE were managed by IMG Media.
Rajesh Kaul, head Sports and chief revenue officer Distribution, Sony Pictures Networks India, commented: “WWE has been consistently ranking in the top three properties across all sports networks in India, dominating the sports entertainment space. We are delighted to extend our partnership with WWE in a first of its kind deal that will give us an increased exposure to valuable content and reach out to a broader viewer base across India on multiple platforms.”
James Rosenstock, WWE executive vice-president, International, added: “India is a strategically important market for WWE and Sony Pictures Networks has been an extraordinary partner in helping to grow our fanbase in the region making it one of the most-watched sports properties. The expanded partnership gives our passionate fans new opportunities to engage with the WWE brand.”
The agreement comes at a time when WWE’s popularity in India continues to grow. WWE is one of the most-watched sports properties in India, and India ranks #1 for WWE YouTube consumption and #1 in WWE Facebook followers. In addition, WWE has been actively recruiting elite athletes and performers from the country. Last year, WWE hosted its largest tryout in history, where more than 70 top athletes from India showcased their abilities in Mumbai. Four Indian recruits were selected to begin training at the WWE Performance Center in Orlando, Florida, US.
Related Report
EXCLUSIVE: SPN renews WWE rights for Indian subcontinent
