TKO “strong start” following WWE/UFC merger
February 28, 2024
TKO Group has announced financial results for its year ended December 31st 2023. The reported results presented in this earnings release cover the period from January 1st 2023 through December 31st 2023 for Ultimate Fighting Championship (UFC) and the period from September 12th 2023 through December 31st 2023 for World Wrestling Entertainment (WWE).
“TKO is off to a strong start following record financial performance in 2023 at both UFC and WWE,” said Ariel Emanuel, CEO of TKO. “We secured Anheuser-Busch as the official beer partner of UFC, delivered a transformative deal to bring WWE’s Raw to Netflix beginning in 2025, and expanded our international footprint in important growth markets. We have more conviction than ever in the combination of these businesses and TKO’s ability to drive topline growth and margin expansion, generate meaningful free cash flow, and deliver sustainable long-term value for shareholders.”
Full Year 2023 Highlights and Recent Developments
• The UFC segment delivered record financial results. Revenue increased 13 per cent to $1.3 billion (€1.2bn) and Adjusted EBITDA increased 11 per cent to $756 million.
• UFC live events revenue increased 34 per cent to a record $168 million, driven by growth in ticket revenues and site fees. UFC held 43 events that generated significant viewership gains and set several all-time records for gross revenue at respective arenas.
• UFC sponsorship revenue increased 18 per cent to a record $196 million, driven by new brand partners and renewal increases.
• Each WWE premium live event set a viewership record; total WWE domestic viewership and hours viewed on Peacock increased 25 per cent and 22 per cent, respectively, as compared to the prior year
• WWE live event average attendance increased 34 per cent.
• Full Year revenue increased 47 per cent, or $534.9 million, to $1.7 billion. The increase reflected an increase of $152.1 million at UFC, to $1.3 billion, and the contribution of $382.8 million of revenue at WWE associated with the period from September 12th 2023 through December 31st 2023.