TKO Group saw third quarter revenue decline while profits increased, a dynamic largely skewed by IMG’s focus on the upcoming Summer Olympic Games in Paris in 2024. UFC experienced a down quarter due to tough year-over-year comparisons, whereas WWE posted notable gains.
For the three months ended in September, TKO’s revenue fell 27% to $1.12 billion. This decrease included a significant drop at IMG—their live events and hospitality business—which saw sales fall by $492 million (or 59%) to $337 million.
UFC revenue also declined by about $30 million (or 8%) to $325 million. This was partly due to one less numbered UFC event compared to the prior year. Last year’s comparison included UFC 306, which was held at the Sphere in Las Vegas and was the highest-grossing event in UFC history. UFC profits for the quarter were down 15% to $166 million.
Despite the revenue drop, TKO’s consolidated net income surged to $107 million, up from $3.4 million in the same quarter last year. This increase was driven by lower operating expenses at IMG, which swung to a $61.4 million profit.
WWE was a bright spot this quarter, with revenue rising by $76 million to $402 million. Profits also grew 19% to $207 million, thanks primarily to higher revenue from the first-ever two-night SummerSlam and Wrestlepalooza, the company’s launch event for its new distribution agreement with ESPN. WWE also benefited from increased media rights, production, and content revenue due to two additional nights of programming, new partners, and higher renewal fees.
Reflecting these results, TKO raised its targets for the full year, expecting revenue to reach $4.72 billion and net profit to hit $1.58 billion. Company executives will host a conference call at 5 pm ET to discuss the results.
“TKO delivered solid third quarter financial results, and with UFC and WWE’s sustained momentum, we are once again raising our full-year guidance,” said Ariel Emanuel, TKO’s executive chair and CEO. “Having secured landmark multiyear media rights deals for UFC, WWE, and Zuffa Boxing, our conviction in TKO has never been stronger. We remain focused on operational execution, including preparing for UFC’s launch with Paramount, further integrating and unlocking synergies with IMG, On Location, and PBR, and maximizing shareholder value.”
https://deadline.com/2025/11/tko-q3-2024-paris-olympic-games-ufc-wwe-1236608288/