TKO Group Holdings, the company that houses the UFC and WWE, announced earning for Q1 which beat analyst expectations. It did post a $249 million loss due to the UFC’s settlement of the antitrust lawsuits filed by former fighters.
Yet, TKO announced earnings of $629.7 million and an adjusted EBITDA of $282.2 million. The company raised its guidance to $2.685 billion in revenue and adjusted EBITDA of $1.205 billion.
The earnings are due to WWE’s Royal Rumble and the UFC events during the first quarter which includes UFC 297, 298 and 299.
UFC revenue is up from Q1 last year as it posted earnings of $313 million as opposed to $306.7 last year. This was driven by an increase in sponsorship revenue and live events. We once again saw the UFC opening up new segments for sponsors and the renewals from current sponsors have proven to be lucrative for the company.
WWE revenue posted Q1 earnings of $316 million for 2024.
Payout Perspective:
TKO business is thriving right now with both WWE and UFC seeing its popularity gain. Event with the loss to settle the antitrust lawsuits, the company still saw a tremendous rise in earnings Notably, WWE’s earnings are from media rights while the UFC’s rise in earnings derive mainly from sponsorship revenues.
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