00:00WWE has inked a five-year, $1.6 billion agreement with ESPN to secure exclusive U.S. broadcast rights to premium live events, including WrestleMania, SummerSlam, and Royal Rumble, starting next year.
00:15These events will primarily stream on ESPN's new direct-to-consumer platform, set to launch August 21st at $29.99 per month.
00:23The deal more than doubles the value of WWE's previous arrangement with Peacock, which was about $180 million annually.
00:32UFC, WWE's sister brand under TKO Group Holdings, is also nearing the end of its own ESPN deal and is reportedly eyeing potential partnerships with multiple streaming services like Netflix.
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