Peacock strikes streaming deal with WWE reportedly valued at over $1 billion

As the streaming wars continue, Peacock hopes to make the competition tap out with a key new deal.

NBCUniversal's streaming service Peacock will become the exclusive streaming home of the WWE Network in the United States as part of a multi-year agreement that The Wall Street Journal reports is valued at over $1 billion.

WWE Network is World Wrestling Entertainment's standalone streaming service that costs $9.99 a month and offers subscribers access to, among other things, WWE's pay-per-view events like WrestleMania. But starting in March, the WWE Network will be a part of Peacock, the NBCUniversal streaming service that launched last year, in the United States.

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WWE Network will be available on Peacock Premium, which costs $4.99 a month, and it will also be available without ads on Peacock Premium Plus, which costs $9.99 a month. The separate WWE Network service will be shut down in the United States as part of the deal, according to the Journal.

"WWE Network is a transformative addition to the platform," Peacock Executive Vice President and Chief Revenue Officer Rick Cordella said.

This deal allows NBCUniversal to further strengthen its streaming service, which at the beginning of 2021 also became the exclusive streaming home of The Office after the hit sitcom left Netflix; though Peacock has a free tier, all but two seasons of The Office are only available to paid subscribers.

The WWE Network is set to launch on Peacock on March 18 — less than a month before this year's WrestleMania.