Sunday Special Edition of Leeds1888- Why is Netflix spending $5 Billion on WWE ?

Hello Readers!

How are you? This year is all about disruption in the media and entertainment industry. Whether it's AI, AR/VR, large format cinemas, or immersive OTT, 2024 is set to shape the industry like never before. Leeds1888 is also experiencing growth and entering a disruptive phase, so I thought it would be fitting to introduce you to the all-new Sunday Edition of Leeds1888

Unlock fascinating insights around news from the media world , binge-worthy OTT ShowList, and the hottest global entertainment highlights with Leeds1888's Sunday Special! Dive into Issue #52 for your ultimate Sunday Media and Entertainment roundup

This Sunday Edition features-

• Top OTT Shows & Movies 

• Netflix Bags the 10 year international programming rights for WWE $5 Billion. Is Sports Entertainment gaining prominence on OTT?

• Weekly Box Office Numbers.

• Key Takeaways from the Sundance 2023

• Media Bytes

Top watched OTT Shows

Top Releases this week

Netflix's $5B WWE Deal: The Reason behind such a big bet.

In a staggering $5 billion agreement last month, Netflix secured the 10-year streaming rights for WWE's RAW format. Additionally, Netflix will have exclusive rights to broadcast all WWE shows and specials, including SmackDown, as well as live pay-per-view events like WrestleMania and Royal Rumble outside the U.S.

While Netflix has emphasised its commitment to entertainment content and expressed no interest in live sports streaming, it appears they have strategised to capitalise on revenue through advertising during live WWE events, leveraging the unique selling proposition of WWE programming.

Off Late there has been a lot of news around mergers and buyouts in the sports entertainment and broadcasting sector.

Let’s looks at the Global live-sports Entertainment streaming forecast

With a remarkable 21.7% compound annual growth rate (CAGR), this segment proves to be exceedingly profitable. Internationally, the live entertainment industry operates on two primary models: pay-per-view subscription and advertising. Netflix already operates within the subscription model; now, the aim is to secure a portion of the live-streaming advertising market.

Viewpoint 

The streaming of live sports entertainment has become an immensely lucrative and rapidly expanding market, as demonstrated by the substantial activity surrounding mergers, rights agreements, acquisitions, and the consolidation of industry players. Netflix has made a significant investment with a $5 billion acquisition of WWE streaming rights, marking a bold move in this arena. While competitors are consolidating to broaden their audience and entice advertisers through economies of scale, it remains intriguing to observe how Netflix, primarily a digital-only streaming platform, will attract advertisers to it’s live streaming offerings, commencing with WWE this year.

Box Office Collection Report

Observations from The Sundance 2024

• The Sundance Film Festival, which recently concluded, featured a selection of progressive and boundary-breaking films, including "Penelope." The movie follows a 16-year-old blond runaway who immerses herself in the wilderness, disconnecting from the digital world without concern for the potential dangers she may encounter, such as meeting strangers or encountering wild animals. In an age dominated by narratives focused on inhibitions, fear, hyper-realism, and the evident perils of an unpredictable world, "Penelope" stands out as a refreshing departure.

• This year stories around gender diversity showcased coming-of-age themes that explored intricacies beyond the typical discomfort surrounding social acceptance of gender-diverse individuals. In the film "Good One," protagonist Lily Collias portrays a 17-year-old girl, a Queer, embarking on a camping trip with her divorced father, played by James Le Gros. However, the narrative, complemented by Collias' exceptional performance, delves into deeper complexities beyond a father grappling with his daughter's queerness.As I continue to explore the array of movies and documentaries featured at Sundance and other festivals, I'll share my reflections on the topics, narratives, and trends that might gain greater attention in the coming months and years.

News Bytes

• Indian jazz band Shakti bagged Best Global Music Album for This Moment—their first studio release in 46 years—at Sunday’s 2024 Grammy Awards in Los Angeles.

• Rock & Roll Hall of Fame nominees for this year are out and we have some prominent names like Cher, Lenny Kravitz, Sinéad O’Connor, Mary J. Blige, Ozzy Osbourne and Mariah Carey are up for the honour, with the official list of inductees to be announced in late April.

And with that, it's a wrap on this edition of this week’s Sunday Special- Leeds1888. Please share this Newsletter within  your network and let's grow our community !

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