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TKO Holdings reportedly recorded a substantial increase in revenue following the UFC’s merger with WWE.
TKO Group Holdings, the parent company overseeing the merger between Ultimate Fighting Championship (UFC) and World Wrestling Entertainment (WWE), has revealed a staggering $1.7 billion profit for the full year, following its acquisition and consolidation of the two sports entertainment giants.
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13:37 - 26.01.2024
Netflix secures Exclusive Rights for WWE's Raw in $5BILLION deal
WWE Raw is coming to Netflix from 2025!
TKO’s Record Performance Driven by Live Events and Sponsorship
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This astounding financial performance was reportedly fueled by a 13% rise in revenue, reaching $1.3 billion for the year 2023, as reported by Sportico.
Live events and sponsorship contributions played a pivotal role in bolstering UFC's revenue, which saw a remarkable 34% increase in events income, totaling $168 million.
In addition to that, strategic partnerships, including securing Anheuser-Busch as the official beer partner of UFC, and the transformative deal to bring WWE's Raw to Netflix from 2025, is said to have further enhanced the company's financial standing.
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On the WWE front, the division reported a total revenue of $331.2 million for 2023 Q4 alone, with a significant portion coming from media rights.
The integration of WWE into TKO's portfolio has no doubt shown promising results, with average attendance soaring by 34% in Q4 and record-breaking viewership on Peacock for premium events.
TKO management has also highlighted potential cost-saving benefits from the merger, estimating savings of up to $100 million.
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07:34 - 05.03.2024
WWE Paul Heyman set to be inducted into WWE Hall of Fame class of 2024
From his trailblazing work in ECW to his continued influence in WWE, Paul Heyman is officially the first pick for the 2024 WWE Hall of Fame.
TKO Holdings Future Outlook and Cost-saving Measures
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Sportico reports that TKO anticipates a substantial increase in sales for the current year, projecting revenue to range between $2.575 billion to $2.65 billion.
The international market, particularly in regions like Abu Dhabi and Saudi Arabia, is expected to also be a significant contributor to this growth.
Despite not delving into net gains or losses in the recent earnings release, TKO has disclosed profitability metrics suggesting a strong cash generation potential resulting from the UFC-WWE merger.
This strategic move underscores TKO's commitment to maximizing synergies following the consolidation of UFC and WWE under its umbrella.
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00:21 - 30.01.2024
SuperSport WON'T Let Go of WWE despite Netflix's Jaw-Dropping $5 Billion deal
Multichoice confirmed SuperSport won't lose WWE amid their billion-dollar Netflix deal.
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