TKO COO Mark Shapiro spoke at the Morgan Stanley Technology, Media & Telecom conference on Wednesday and discussed several topics, including the WWE’s Premium Live Events rights domestically, how there is an insatiable demand for an underpriced product and more.

Shapiro said that WWE’s deal with NBCUniversal to air their Premium Live Events on Peacock is underpriced, but that is not the blame of either WWE or NBCUniversal, noting that the market catches up, but that the monthly events are performing massively for NBCU, and are higher than the expectations that the NBCU leadership had when they originally signed the deal.

Shapiro added that there is an insatiable demand for the rights when they come up in 2026, and that they will look to renew with NBCU who have been a great partner that know how to market the WWE product, however it will be a hotly-contested property.

Shapiro was questioned about whether Netflix would be interested in acquiring the rights on a domestic level, given that they will hold the international rights from 2025, and stated that with Netflix, Apple and other providers, the conversations always started with the question of when the Premium Live Events deal was up and said that they want to walk before they run with Netflix and get out of the gate strong with WWE RAW, seeing how things go before talking about the domestic Premium Live Events rights if NBCU decide not to renew their deal.