In a recent appearance on The Pat McAfee Show, TKO executive Ari Emanuel revealed that WWE initially engaged in discussions with Netflix about bringing NXT to the streaming platform. However, those talks ultimately shifted, resulting in NXT securing a deal with The CW while Netflix acquired the broadcasting rights for Monday Night Raw.

Emanuel detailed how the negotiations evolved, stating:

“I had a breakfast with Bella. She runs all of content programming underneath Ted Sarandos at Netflix. We did a presentation to her, and all of a sudden, we first started talking about NXT and it immediately moved to Raw. Over Christmas a year and a half ago, we’re on Zoom, it’s all approved, we have to have a conversation with Ted Sarandos, he’s in London seeing Stranger Things play. We get on Zoom, Shapiro and I, he’s with his CFO, it all gets done, we hang up the phone, we do a jig.”

This revelation sheds light on the behind-the-scenes negotiations that ultimately led to WWE's historic $5 billion, 10-year deal with Netflix, which saw Monday Night Raw move exclusively to the streaming giant beginning in 2025.