TKO reports Q3 2023 financial results
TKO Transaction Highlights
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
New York, NY, November 7, 2023 – TKO Group Holdings, Inc. (NYSE: TKO) today announced financial results for its third quarter ended September 30, 2023. The reported results presented in this
earnings release cover the period from July 1, 2023 through September 30, 2023 for Ultimate Fighting Championship (“UFC”) and the period from September 12, 2023 through September 30, 2023 for World Wrestling Entertainment, Inc. (“WWE”).
“Since launching TKO on September 12th, our teams at WWE, UFC, and Endeavor have been focused on
integration and executing our strategy,” said Ariel Emanuel, CEO of TKO. “This includes identifying cost synergies at the high end of the range we guided, bringing events to new international markets including Saudi Arabia and Australia, delivering media rights increases for WWE, and closing the largest global
partnership deal ever for UFC with AB InBev. We remain bullish about TKO’s ability to accelerate growth and unlock long-term value for shareholders.”