The third quarter of this year was a very profitable one for TKO, the parent company of UFC and WWE. It’s interesting that in Q3 of 2024, UFC’s income was almost equal to WWE’s, despite the UFC holding more events and having a larger worldwide presence. This indicates that Stamford-based promotion captured a lot of audience interest this year.
TKO Group recently reported a combined revenue of $681.2 million for the quarter, with WWE generating $326.3 million and UFC bringing in $354.9 million.
This significant increase in media rights and sponsorship revenue, which saw a 14% rise compared to the same quarter last year, is responsible for the surprising result.
🤼♂️ $TKO (TKO Group – WWE & UFC parent) Q3 Earnings Knockout! 🥊
— The Earnings Edge (@TheEarningsEdge) November 6, 2024
Revenue: $681.2M 📈
Profit: $57.7M 💰
Adj. EBITDA: $310M 💪
Key Points:
• WWE revenue 🎭: $326.3M
• UFC revenue 🥊: $354.9M
• Raising 2024 guidance to top end of range ($2.74B) 🎯
Big Moves:
• $2B stock…
In contrast, fewer events during the quarter led to an 11% decrease in UFC’s revenue. The report also revealed that WWE’s adjusted EBITDA was $175.3 million, while UFC’s adjusted EBITDA was $195.6 million, indicating strong profitability for both divisions.
Thanks to the strong performance, Endeavor has raised its full-year sales prediction to $2.745 billion, which is more than the original goal of $2.67 billion.
Bill Apter weighs in on WWE’s new recruitment initiative
Bill Apter, a veteran wrestling journalist, shared his thoughts on the new recruitment program called WWE ID. This program helps upcoming indie wrestlers get a chance to work for WWE. While Apter sees the benefits of the program, he is also worried about how it might affect indie wrestling schools that are not connected to WWE.
During an appearance on Sportskeeda’s “The Wrestling Time Machine, Apter explained, “It depends on who you are. If you are an Indie wrestling school like the Monster Factory and you are not approved by them, it’s like going to a school and getting a degree, you know you went to this important school, or you’re gonna go to a school that’s not really recognized as the most important.”
He continued, “It’s not just about going to the schools, it’s also going to be where they are going to be following certain talents around as they develop in the Indie wrestling scene. So I think it’s good in one way.”
