WWE's $1.6 Billion Deal With ESPN Completes Pro Wrestling's Entry Into The Mainstream

Although professional wrestling was at the height of its popularity during the mid-to-late 1990s amid the Monday Night War, it was still viewed as lowbrow and taboo in mainstream culture. Major sports outlets like ESPN and Sports Illustrated largely dismissed the industry as carny and second-rate.

However, the perception of professional wrestling began to shift around 2018. That year, Fox brought WWE SmackDown to its main broadcast network. WWE Raw debuted on Netflix in January, marking the streamer’s first major investment in live, weekly programming.

This week, WWE announced a five-year, $1.6 billion deal with ESPN, making the network's upcoming direct-to-consumer platform the exclusive home of its main roster of premium live events—including WrestleMania, SummerSlam, and the Royal Rumble. WWE PLEs will officially move from NBC's Peacock to ESPN DTC in 2026, for an increase of 78% in value.

CNBC adds that "select" PLEs will also air on ESPN’s linear networks.

PHILADELPHIA, PENNSYLVANIA - APRIL 6: Roman Reigns and Paul Heyman enter the ring during Night One of WrestleMania 40 at Lincoln Financial Field on April 6, 2024 in Philadelphia, Pennsylvania. (Photo by WWE/Getty Images)

By this time next year, WWE will have a presence on ESPN, Netflix, NBC, USA Network, Peacock, and CW Network. That's as mainstream as mainstream gets.

Blue-chip sponsors and executives still likely cringe at the idea of associating with the world of pro wrestling. But in an era in which so few forms of entertainment cut through, WWE cuts through. Like professional sports, WWE has become more valuable as scripted television, talk shows, and reality television have become more niche.

Some numbers to consider: WWE programming on linear television consistently draws more viewers than the average national broadcasts of the NBA, MLB, or NHL. On YouTube, WWE boasts 110 million subscribers—far surpassing ESPN (13.8 million), the NBA (23.3 million), and the NFL (14.7 million).

Thus, ESPN is investing in WWE while passing on renewal deals for MLB, Formula 1, Top Rank Boxing, and Big Ten football.

WWE fans have also proven they will pay a premium for content, whether it be in the form of pay-per-views or PLEs. ESPN is counting on that loyalty to drive subscriptions to its direct-to-consumer platform, justifying the $325 million annual fee.

That said, the WWE Network and Peacock subscriptions ranged from $1.99 to $9.99 per month, while the upcoming ESPN app will cost $29.99 a month. For those who already have ESPN through a standard cable package, the app may offer little additional value beyond WWE.

And that will put pressure on WWE booking.

TORONTO, CANADA - MARCH 1: Dwayne "The Rock" Johnson and John Cena stand over Cody Rhodes during WWE Elimination Chamber at Rogers Centre on March 1, 2025 in Toronto, Canada. (Photo by Rich Freeda/WWE via Getty Images)

While the company hasn’t missed Vince McMahon on the business side—thanks to president Nick Khan—the jury is still out on Paul "Triple H" Levesque as head of content. Under Levesque, booking has felt sloppy. Notably, he mishandled the planned Roman Reigns–The Rock WrestleMania match two years ago, The Rock’s storyline this past year, and John Cena’s heel turn.

At three times the price per month, fans will expect stronger booking. 

"WWE has an immense, devoted and passionate fan base that we're excited to super-serve on our new ESPN DTC platform," ESPN chairman Jimmy Pitaro said in a statement on Wednesday. "This agreement, which features the most significant WWE events of the year, bolsters our unprecedented content portfolio and helps drive our streaming future."

For those worried about the WWE-ESPN agreement leading to Stephen A. Smith stepping into a WWE ring with a microphone, we understand your concerns.