WWE CEO Nick Khan Believes Peacock Contract Is Now 'Way Undervalued'

It's been over two years since WWE closed the WWE Network in the United States and moved its content to NBCUniversal's Peacock. The five-year streaming deal with Peacock was reportedly worth over $1 billion. WWE CEO Nick Khan opened up about that agreement during an interview at the SVB MoffettNathanson Technology, Media & Telecom Conference. 

"I think with that deal, which was done in March of 2021, that deal is probably the most under-market deal, in my opinion, in the entire media business right now," Khan said. "We did it and we were thrilled with it when it happened. We're still thrilled with the partnership, but if you look at the dollars, Wall Street Journal announced over a billion dollars, around a billion dollars over the life of the deal, [it's] way undervalued at this moment in time. Obviously, we have a contract. We'll see what happens."

Khan added that WWE started with Peacock when the streaming platform was in its infancy. He went on to say that the promotion's viewership in Peacock's early days was greater than the viewing figures on the WWE Network in the United States. The former Co-Head of the Television Department at CAA (Creative Artists Agency) said viewers were up "50% give or take" each year, for each event, since they made the switch to Peacock. Khan noted that WWE has almost doubled its audience in a matter of two years. 

If you use any quotes from this article, please credit the SVB MoffettNathanson Technology, Media & Telecom Conference with a H/T to Wrestling Inc. for the transcription.