WWE NXT is moving to CW in 2024 and is getting a significant increase in their TV rights package.
WWE has made an official announcement that NXT will be making the move to CW Network, commencing in October 2024, under a five-year agreement.
WWE President Nick Khan expressed excitement in a press release, stating that The CW has made notable moves in its live sports programming schedule over the past year. He sees the move to broadcast television on The CW as a thrilling opportunity to broaden NXT’s viewership, marking the first time in the show’s history.
As per Deadline, the new five-year agreement for NXT with The CW is reportedly valued at more than double the $15 million a year cost of the current contract. However, TKO President Ari Emanuel said quarterly earnings call that it is 70% increase in average annual value(AAV).
In comparison, WWE will get around $280 million per year from USA Network for SmackDown from October 2024. RAW gets around $265 million per year from USA Network as per current deal that runs until next year.
NXT has been broadcast on the USA Network since 2019. Prior to that, the show had a weekly slot on the WWE Network. Presently, NXT is scheduled to air on Tuesday nights.
In the previous month, there were reports indicating that the NWA had secured two TV agreements with The CW, one for NWA Power and another for a reality series. However, over the weekend, Haus of Wrestling disclosed that an incident involving cocaine at the NWA’s Samhain pay-per-view event might have an adverse impact on these deals.