Wells Fargo thinks the Netflix’s hosting the “landmark move” of TKO Group’s (TKO) Raw to streaming is part the company’s aim to accelerate advertising scale and grow revenues beyond paid sharing. The firm says Raw might add high single digits or low-teens to Netflix’s U.S., Canada, Australia and New Zealand ad impressions in 2025. Wells guesses that ad-free Netflix subscribers will still get advertising during WWE’s commercial breaks. This is hardly a “bet the farm” deal for Netflix, and tonight investors will get more color on how WWE fits in, the analyst tells investors in a research note. Wells keeps an Overweight rating on Netflix with a $460 price target.
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