WWE Netflix Deal Made Bushiroad Unable To Compete Alone

The WWE Netflix deal convinced former NJPW owner Takaaki Kidani that Bushiroad could no longer compete independently in the increasingly expensive global wrestling business.

Speaking with Weekly Playboy, Kidani explained several factors behind Bushiroad’s decision to transfer its NJPW shares to TV Asahi and CyberAgent.

Kidani said he began questioning Bushiroad’s ability to oversee NJPW’s global expansion in 2019. The launch of AEW created another major American promotion and reduced NJPW’s position as the leading alternative to WWE.

Kidani remained with the promotion through the COVID-19 pandemic because he felt responsible for helping NJPW recover. Bushiroad previously discussed NJPW’s working relationship with AEW after the two companies eventually began collaborating.

Yota Tsuji’s criticism of Bushiroad in February also affected the timing of the ownership change. Kidani said he could not sleep after Tsuji accused the parent company of treating wrestlers like pieces in a card game.

The larger business turning point came in January 2024, when WWE announced its ten-year, $5 billion agreement with Netflix. Kidani said the size and length of the agreement demonstrated that NJPW needed ownership with substantial media and streaming resources.

There was no way we could win against that.

This is no longer a field where Bushiroad can compete on its own.