TKO Group announced its earnings for the third quarter of 2024. The company that owns the UFC and WWE reported earnings that beat Wall Street expectations.
The company reported revenue of $681.2 million for the period ending September 30th and net earnings of $57.7 million. It also beat the Street’s expectations with an EBITDA of $310 million.
The UFC Sphere show was the leading driver for the MMA company this quarter as it drew $354.9 million in sales which was actually down from $397.5 million in 2023. The company explained that there were three fewer events this quarter than last year although the number of events will even out by 2024’s end.
UFC 306 produced one of the biggest costs for the quarter for the production of the event but also was the highest grossing event for the company and the venue.
The WWE revenue was up 14% from 2023 although it joined TKO in September 2023 last year. The company’s sponsorship revenue was the big financial driver for the quarter. Ticket revenue ($51.1 million) and media rights ($227.4 million) also were big drivers this quarter with the switch of networks for both Smackdown and NXT. The company generated $326.3 million overall.
Leave a Reply