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Photo; Marc Pfitzenreuter/Getty Images

Peacock and WWE announced a multi-year agreement Monday that gives Peacock exclusive streaming rights to WWE Network in the U.S.

Why it matters: The deal, reportedly worth over $1 billion, will help bolster Peacock's programming to better compete with the slew of new streaming companies that have launched in the past year.

The big picture: WWE, unlike most sports, managed to stay afloat even at the outset of the pandemic. In April, Florida Gov. Ron DeSantis said WWE programming was an essential business and allowed matches to continue despite rising COVID-19 cases.

Details: Peacock will launch WWE Network on March 18. In turn, WWE Network will shut down its streaming service in the U.S. and shift its programming over to Peacock.

  • More than 17,000 hours of new, original, and library WWE Network programming will eventually be available on-demand.
  • All live pay-per-view events, including "WrestleMania" and "SummerSlam; Fastlane," will be available first via pay-per-view to stream on Peacock on Sunday, March 21.
  • The deal also means that original shows like "Steve Austin Broken Skull Sessions" and in-ring shows like "WWE 205 Live" will be on Peacock exclusively, as will replays of "Raw" and "SmackDown."
  • All WWE Network archives will also be included on-demand.
  • WWE said that starting in 2022, it will bring one signature documentary exclusively to Peacock.

Be smart: For wrestling fans, this is a win. The WWE Network will be made available via Peacock for $4.99 monthly with ads, as opposed to the $9.99 monthly ad-free subscription that the WWE Network currently costs. Still, if a super-fan wants to watch WWE without ads on Peacock, it will cost them $9.99.

What they're saying: “NBCUniversal has a long-standing relationship with WWE that began nearly 30 years ago with Monday Night Raw on USA," said Rick Cordella, executive vice president and chief revenue officer of Peacock.

  • Nick Khan, president and chief revenue officer of WWE, said Peacock will enable WWE to showcase its most important events, including WrestleMania.

What's next: The companies plan to share more details on managing customer accounts closer to the Peacock launch in March.

Go deeper

Updated 49 mins ago - Sports

Olympics dashboard

Team USA's Simone Biles watching the women's uneven bars final at the Olympic Games in Tokyo, Japan, on Sunday. Photo: Jamie Squire/Getty Images

🚨: Simone Biles will compete in her final Olympic event

⚽: U.S. women's soccer team falls to Canada in semifinals, ending chances at gold

🏋️‍♀️: Laurel Hubbard becomes first openly trans woman to compete at Olympics

🤸: U.S. gymnast Jade Carey wins Olympic gold in floor exercise final

🪧: IOC "looking into" American Raven Saunders' Olympic podium protest gesture

📷In photos: Day 10 Olympics highlights

🏳️‍⚧️: Axios at the Olympics: Games grapple with trans athletesTrans athletes see the Tokyo Games as a watershed moment

Go deeper: Full Axios coverage

Updated 1 hour ago - Sports

Laurel Hubbard becomes first openly trans woman to compete at Olympics

Laurel Hubbard. Photo: Stanislav Krasilnikov\TASS via Getty Images

New Zealand weightlifter Laurel Hubbard made history on Monday as the first openly transgender female athlete to compete at the Olympics.

Why it matters: The presence of trans and nonbinary athletes at this year's Games has been celebrated by LGBTQ+ rights advocates, but stirred controversy among critics, who argue trans women have an unfair advantage even after taking hormones to lower their testosterone.

Index fund investors saved $357 billion over last 25 years

Illustration: Sarah Grillo/Axios

Investors who’ve opted to passively track the stock market haven’t just outperformed most active fund managers. They’ve also saved a ton of money in fees while doing it.

Why it matters: There are loads of active fund managers aiming to beat the returns of funds that track indexes like the S&P 500.