FOX CEO Reveals Reason Network Didn't Renew Rights for WWE SmackDown

WWE recently revealed that SmackDown would be moving to USA Network in 2024 after its deal with FOX expires in the fall, but it wasn't known exactly why the two sides didn't continue their partnership. Granted, WWE has had a long relationship with NBCUniversal, but the change-up was still slightly surprising. FOX CEO Lachlan Murdoch has now addressed why the partnership didn't continue (via Brandon Thurston), and the reasoning comes down to advertising revenue. During FOX's earnings call this morning, Murdoch said the network didn't drive enough advertising revenue "due to the audience of the WWE".

FOX also wasn't able to generate enough retransmission revenue linked to SmackDown, which means that they weren't able to charge cable and satellite carriers much more to carry FOX networks because they had SmackDown. Thurston isn't sure if this had to do with audience income or something else, but it is interesting to take note of.

🔈 Fox CEO Lachlan Murdoch on why Fox didn't renew rights to WWE Smackdown, from Fox's earnings call this morning.

Murdoch said Fox didn't drive enough advertising revenue "due to the audience of the WWE". Seemingly this means the number of viewers and probably also the ad… pic.twitter.com/NAoy0yashY

— Brandon Thurston (@BrandonThurston) November 2, 2023

When the FOX deal is up, SmackDown will move over to USA Network, though Monday Night Raw and NXT won't be sticking around on USA, as they are also looking for new homes. In the press release that accompanied the SmackDown move announcement, WWE and NBCU couldn't be happier about bringing SmackDown under the USA umbrella.

"NBCUniversal has been a tremendous partner of WWE for decades," WWE President Nick Khan said. "We are excited to extend this longstanding relationship by bringing SmackDown to USA Network on Friday nights and look forward to debuting multiple WWE special events annually on NBC."

"It's a privilege and thrill to continue NBCU's decades-long partnership with WWE which has helped cement USA Network's consistent position as the top-rated cable entertainment network in live viewership" said Frances Berwick, Chairman, NBCUniversal Entertainment. "With Friday nights on USA, primetime specials on NBC, and the WWE hub on Peacock, we'll continue to use the power of our portfolio to super-serve this passionate fanbase." 

We'll have to wait and see where Raw and NXT land, though regardless of where those go, Premium Live Events will continue to stream on Peacock.

What do you think of the SmackDown move? Let us know in the comments and as always you can talk all things wrestling with me on Threads @mattaguilarcb!