On Wednesday, TKO announced its earnings report for the fourth quarter of 2025. Overall, the company beat analyst and internal expectations yet again.
The company made $1.038 Billion in Q4 which reflects a year-to-year increase of 12%. Adjusted EBITDA was $12 million which was up 30% from Q4 of 2024.
The UFC made $401.4 Million for Q4 which is an increase from year-to-year when it made $343.9 Million for Q4 in 2024. For the overall year of 2025, the UFC made $1,502.2 Billion. In 2024, it made $1,406.2 Billon.
WWE made $359.6 Million for Q4 which is an increase from $298.3 from Q4 in 2024. Overall, WWE made $1,709.4 Billion. In 2024, it made $1,398.1
Notably, WWE made more than UFC in 2025. This could be due in part to the big two-night Wrestlemania in Las Vegas as well as the site fees paid by Saudi Arabia and other countries last year.
For Q4, the UFC’s biggest area of growth and revenue was the media rights, production and content segment. It made $222.6 million in Q4 versus $198 million in Q4 in 2024. Live events and hospitality grew in Q4 with $72.2 million. Partnerships and marketing grew to $93.4 million. The only segment that fell back was Consumer products, licensing and other which earned $13.2 million in Q4 2025 whereas it earned $14.2 in 2024. The adjusted EBITDA margin increased from 53% from 52%.
WWE’s biggest area of growth was in media rights, production and content as it earned $221.2 million versus $156.3 million in Q4 of 2024. Partnerships and marketing grew to $35.8 million. In Q4 of 2024, it was $22.8 million. Consumer products and licensing was up to $34.3 million from $26.1 in Q4 of 2024. Notably, live events and hospitality was down in the fourth quarter to $68.3 from $93.1 in Q4 of 2024. This may be due to the lack of international events and site fees associated with those events.
The adjusted EMITDA margin increased to 46% from 38%.
The full results are here.
Both entities that combat fans are concerned with under the TKO umbrella are doing well. Much of that has to do with its lucrative media rights segment. WWE is made more money than UFC in the last quarter of 2025 likely due to more consumer product revenue. The UFC really doesn’t have the demo where you can market toys for parents to buy for kids around the holidays. Regardless, both companies are doing well and we will see if they can survive an economic downturn.
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