TKO Group, a group owned by Endeavor and which brings together WWE and UFC, released its financial results for the first quarter of 2024 this Wednesday.
The group had revenue of US$629.7 million in the first three months of this year, but a net loss of US$249.5 million.
The revenues of the two companies were similar, with UFC recording US$313.0 million, while WWE earned US$316.7 million.
Much of the net loss comes from the UFC side, due to an antitrust lawsuit (against monopolies), in which it paid 335 million dollars.
In this results presentation, TKO Group highlighted the following from WWE:
- WWE held 47 events, including two premium live events (Royal Rumble and Elimination Chamber). Both recorded revenue and audience records.
- WWE has reached a multi-year deal with Netflix to broadcast Raw starting in January 2025. USA Network will continue to air Raw until the end of 2024, and NBCUniversal will pay $25 million for the final three months of the year.
- In April, WrestleMania
- PRIME drinks became a partner of WWE, and the first to have advertising in the company’s center ring.
On the UFC side, TKO Group highlighted the following:
- The UFC held 11 events, including five with live audiences, which recorded good audiences and some box office records.
- In April, UFC 300 was one of the most successful events in the company’s history, with a box office of $16.5 million and more than 20,000 fans at the T-Mobile Arena in Las Vegas.
- TKO reached an agreement to pay 335 million dollars in an antitrust lawsuit (against monopolies).
Full details of this TKO Group financial report can be seen here.
What do you think of these TKO Group financial results for the first quarter of 2024?
