TKO Group Holdings reports third quarter 2023 results, announces revenue of $449.1 million

Originally published at TKO Group Holdings reports third quarter 2023 results, announces revenue of $449.1 million

The first earnings report for TKO. 

TKO Group Holdings, the company formed via the merger of WWE and UFC under the Endeavor umbrella, pushed out their third quarter 2023 earnings report

They generated a total of $449.1 million in revenue. Here is a portion of the press release: 

  • On September 12, 2023, Endeavor and WWE closed the transaction to combine UFC and WWE to form a new, publicly listed company, TKO Group Holdings, Inc.

  • On September 13, 2023, the Company declared a special one-time cash dividend of $3.86 per share of Class A common stock, which was paid on September 29, 2023

Third Quarter 2023 Financial Highlights

  • Revenue of $449.1 million
  • Net income of $22.0 million
  • Adjusted EBITDA1 of $239.7 million
  • These results cover the period from July 1, 2023 through September 30, 2023 for UFC and the period from September 12, 2023 through September 30, 2023 for WWE

Third Quarter 2023 Operational Highlights and Recent Developments

  • UFC held 13 events that consistently delivered strong viewership and attendance and set several all-time records for gross revenue at the respective arenas

  • WWE entering into a five-year domestic media rights agreement with NBCUniversal for SmackDown beginning in October 2024

  • WrestleMania 40, to be held at Lincoln Financial Field in Philadelphia in April 2024, sold more than 90,000 tickets in one day when it went on sale, breaking the record for all-time gate set at WrestleMania 39

  • In October, UFC completed a multi-year sponsorship agreement, UFC’s biggest ever in the aggregate including cash and marketing assets, with AB InBev to become the exclusive “Official Global Beer Partner of UFC” effective January 1, 2024

  • In October, UFC agreed to an expansion of its presence in the Middle East North Africa (MENA) region with the extension of its partnership with the Department of Culture and Tourism – Abu Dhabi to continue to host numbered events through 2028 and an agreement to bring up to 3 Fight Nights to the region annually, including its first event in Saudi Arabia in March 2024

Coverage of the conference call is going to be provided here on POST Wrestling.