AEW will stream on Max following a new multi-year rights deal with Warner Bros. Discovery

All Elite Wrestling (AEW) is officially Warner Bros. Signed a new multi-year multimedia rights deal with Discovery.

Financial terms of the deal were not disclosed, but the deal is worth upwards of $150 million per year when all components are taken into account, according to sources. Under the new deal, AEW shows “Dynamite” and “Clash” will remain on TBS and TNT, respectively. But for the first time since launching in 2019, AEW programming will stream live on Max simultaneously for US subscribers and will be available to stream on-demand from January 2025.

“We are honored to announce the expansion of our incredible partnership with Warner Bros. Discovery,” said AEW CEO, GM and Head of Creative Tony Khan. “This extension continues the tradition of iconic wrestling events airing on TBS and TNT, while also establishing a new legacy for AEW with weekly live streams on Max. We thank David Zaslav, Kathleen Finch and everyone at WBD for their tireless support of Elite Wrestling since its inception, as well as the AEW fans, talent and staff who helped make it possible.”

The deal includes expanded distribution rights across social media as well as potential new AEW programming on linear and digital platforms. Additionally, AEW Live Pay-Per-View will be available on Max after 2025 at a discounted price per event, with all marketing and promotion of those events focused exclusively on Max.

“Tony Khan and the entire AEW team have been incredible partners, and we're thrilled to strike this expanded deal to deliver amazing new AEW content and stories to TNT and TBS, as well as bring exciting live action to the Max for the first time,” said Kathleen Finch, Chairman and CEO of US Networks for Warner Bros. Discovery. “We are focused on creating new and authentic experiences for AEW's passionate and engaged fanbase and introducing them to our growing lineup of high-action sports and entertainment on TNT and beyond. “

AEW's flagship show, “Dynamite,” debuted on TNT in October 2019. The show currently ranks as Wednesday's number one cable entertainment series among adults 18-49. “Clash” is currently in the top five in its Saturday timeslot among adults 18-49 and men 18-49.

AEW's current roster includes champions Bryan Danielson, Maria May, Mercedes Mone, tag team The Young Bucks, Will Osprey, Jack Perry, Wheeler Yuta, Pac, Claudio Castagnoli and Kazuchika Okada.

“I was there when Tony Khan first shared his vision to create a media and live entertainment company that would disrupt the wrestling industry,” said Bernie Cahill, founding partner of Activist Artist Management. “This WBD renewal is a great validation of Tony's vision and leadership – making AEW a unicorn in terms of enterprise value in the media and live entertainment space.”

News of the AEW deal comes as sports rights prices skyrocket. AEW's main rival, WWE, recently set new deals for its shows “Raw,” “SmackDown,” and “NXT,” with “Raw” set to debut on Netflix in January 2025.