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TKO released 2024 Q1 financial data to shareholders this week, including total revenue for both WWE and UFC. WWE edged UFC in total revenue by a 316.7 million to 313.0 million margin.

The breakdown in WWE revenue by category was provided:

  • $221.1 million – Media Rights & Content (UFC generated $214.5 million)
  • $50.2 million – Live Events (UFC generated $35.3 million)
  • $13.8 million – Sponsorships (UFC generated $48.6 million)
  • $31.6 million – Consumer Products (UFC generated $14.6 million)

WWE noted these details on revenue and expenses:

•WWE revenue was $297.6 million for the period from January 1, 2023 through March 31, 2023. The increase of 6%, or $19.1 million, in 2024 Q1 was primarily due to an increase in live events revenue and an increase in media rights and content revenue partially offset by a decrease in consumer products revenue.

•The increase in live events revenue was primarily related to an increase in ticket sales and site fees. The increase in media rights and content fees was primarily related to the contractual escalation of media rights fees for WWE’s flagship weekly programming, Raw and Smackdown, and premium live events.

•The decline in consumer products revenue was primarily due to the absence of revenue recorded in the prior year period related to the early termination of an agreement for licensed collectibles as well as the previously disclosed transition of their venue merchandise business to Fanatics in May 2023.

•Expenses decreased primarily due to a decline in personnel costs and other direct costs, principally related to planned cost reduction initiatives implemented following the formation of TKO, partially offset by an increase in production costs as well as travel and entertainment costs.

•The Company is raising its guidance and now expects full year 2024 revenue of $2.610 billion – $2.685 billion and Adjusted EBITDA of $1.185 billion – $1.205 billion due to outperformance through the first three months of the year as well as a $25 million domestic media rights agreement for Raw for the fourth quarter of 2024.

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Read the full report HERE.

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