Key Points
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Netflix (NASDAQ: NFLX) broadcast over 200 live events in 2025, including NFL games and WWE programming.
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Despite heavy spending, live events accounted for only a small portion of the 96 billion total view hours on the platform.
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Netflix’s live events strategy has reportedly helped attract 430,000 new subscribers during the Christmas NFL games, which garnered 27.5 million viewers.
In 2025, Netflix broadcasted more than 200 live events, including major sports and WWE programming, spending over $5 billion in a 10-year deal for WWE’s Raw. Despite this investment, live events only represented a minor fraction of the total 96 billion viewing hours recorded in the second half of the year, with WWE content totaling 340 million hours.
Live events have been beneficial for subscriber acquisition; for instance, the Christmas Day NFL games attracted 430,000 new subscribers, representing the third-largest increase since 2018. Nearly half of those new subscribers remained with the service a year later. Netflix plans to expand its live events, particularly in international markets, indicating a long-term strategy for increasing membership through engaging content.
