(Photo credit: Joe Camporeale-Imagn Images)

WWE's premium live events will move from NBC's Peacock to ESPN's new streaming service in 2026 as part of a five-year, $1.6 billion deal.

It represents a 78 percent increase over Peacock's five-year, $900 million deal for what was previously called pay-per-view events, according to CNBC. Select PLE's will also be simulcast on ESPN's linear networks.

The WWE Network was launched in 2014 with a $9.99 monthly subscription model, and the PLE's moved to Peacock in 2021. This year's PLE's have included multi-night events for WrestleMania and SummerSlam along with the Royal Rumble.

'WWE's agreement with ESPN is a pivotal moment for our millions of fans across the United States: the leader in sports entertainment partnering with the biggest brand in sports media,' WWE president Nick Khan said in a statement. 'Bringing WWE's flagship events to ESPN's platform is tremendously exciting. We know the sky is the limit.'

ESPN's streaming service is set to launch this month for $29.99 per month. The deal for all 10 of the WWE's yearly PLE's beginning in 2026 follows Tuesday's announcement that ESPN has agreed to a non-binding deal to acquire NFL Network in exchange for a 10 percent in ESPN.

'WWE has an immense, devoted and passionate fanbase that we're excited to super-serve on our new ESPN DTC platform,' ESPN Chairman Jimmy Pitaro said. 'This agreement, which features the most-significant WWE events of the year, bolsters our unprecedented content portfolio and helps drive our streaming future.'

Netflix has the television rights for Raw as part of a 10-year, $5 billion deal, while Peacock and the USA Network have SmackDown rights through 2029.

--Field Level Media