The new contract extension between All Elite Wrestling (AEW) and WarnerMedia Group is quite the financially lucrative deal.
AEW's new deal with the Turner Networks comes out to just under $45 million per year, with "escalators built into the contract," according to a report by Dave Meltzer in the latest issue of the Wrestling Observer Newsletter at F4WOnline.com.
The move ensures that the weekly AEW Dynamite will almost surely air through 2023, even if ratings decrease and popularity wanes. Conversely, if ratings go up and popularity rises, AEW would be in position to profit greatly in 2025 when the deal fully expires. Although the extension was announced as through 2023, TNT has a one-year option that they could kick in for 2023-2024.
The new deal is comparable to the arrangement WWE has with Raw and SmackDown in that production costs are now covered by the promotion rather than the network. AEW's deal will continue to get some sort of advertising split, which is something WWE doesn't get with Raw or SmackDown.
While the terms of the AEW/WarnerMedia contract extension has its benefits, and in some ways has deal points that seem to match or surpass those that WWE has for their Raw and SmackDown agreements, it still falls considerably short of the $265 million that Raw commands from USA Network, or the $205 million that SmckDown is guaranteed by FOX.
It is, however, worth noting that the new deal calls for AEW to earn more in television rights fees through TNT for AEW Dynamite than WWE is getting for their NXT TV deal with USA Network.