WWE NXT Officially Leaving USA Network
NXT's new broadcast home revealed ahead of USA Network departure.
NXT will move from USA Network to The CW Network in October 2024, WWE has officially announced.
The two parties have agreed on a five-year deal that stands as the most lucrative rights agreement in NXT history.
WWE President Nick Khan commented in the press release:
“The CW has made impressive moves over the past year with its live sports programming schedule. It’s a truly exciting opportunity to expand NXT’s audience by bringing the show to broadcast television for the first time in NXT’s history.”
On yesterday's TKO Group conference call, Endeavor CEO Ari Emanuel claimed NXT had landed a 70% increase in annual average value. PWInsider's Mike Johnson reports that the deal is believed to be worth around $35-37 million annually, though this number is unconfirmed. Previously, WWE was understood to be earning a yearly sum of $15 million from NBC Universal, whose USA Network station currently houses NXT.
WWE sees NXT's move to The CW as a chance to showcase its young talents to a few audience, hoping they can build new stars and move NXT towards being more "self-standing."
Per the agreement, NXT will still air on Tuesday evenings. WWE will also keep taping episodes out of the Performance Center in Winter Park, Florida, though WWE is open to running shows elsewhere if it makes financial sense.
Fightful Select reports that working with The CW was particularly appealing to WWE as it moves NXT onto a "basic network that widens a possible audience base." Per Fightful, NXT is "expected to remain very similar as it is now," with WWE happy about the brand's recent viewership increases.