Live sports rights fees are on a run right now, and have been for roughly the past half decade. It actually has nothing to do with anything the WWE has done, it's just that the trend finally reached them (they tried to get in on this in their last rights deal, but it didn't work).
The thought is that live sports is one of, if not the only category of programming that is immune to the time shifting and online consumption trends that have affected channels and their parent companies since the mid-late 2000s. This is why it's not just WWE that's seeing massive increases in rights fees, but all live sports period.
However, I'm of the thought that this is a massive bubble brought on by the usual short sighted business thinking. Here's why: did all of the massive rights fees deals ESPN signed keep them from cutting hundreds of staff members and anchors over the past 5 years? Has it helped their ratings? Has it helped Fox Sports 1's ratings (if it did, they probably would have fought harder to keep the UFC rights)? My point is, it's not the sports themselves that are necessarily that important, but specific events like the Super Bowl, March Madness, the NBA Finals, and the Champions League finals that are truly immune to those downward pressures. As for everything else, they'll still attract live audiences, but those don't necessarily have to be TV audiences, and they're very slowly dwindling anyway (see the ratings decreases for the NFL and College Football).
Now, USA's basically wedded to RAW as long as Bonnie Hammer is chairman of NBCUniversal, so a lot of what I just typed doesn't matter right now. But if ratings and ad revenue keep falling for SmackDown, expect Fox to take a hard look at that deal sooner rather than later. If the bottom falls out for WWE on the TV rights front, then all of a sudden this live events problem that they seemingly don't care about is going to become a very real issue for them.
They don't have to care about always tarping off a third of their arenas for now. I'm not sure they're going to be singing that tune in roughly 5 years.