WWE
WWE’s first quarter revenue finished at $316.7 million, helping fuel another successful quarter for parent group TKO.
The numbers were reported as part of TKO’s first quarter earnings report released Wednesday, followed by an investors call that kicks off at 5 PM Eastern.
This post will have notes from that call when it starts. Please refresh this page later for updated quotes and notes.
The WWE number is a year-over-year (YOY) increase of 6% from 2023’s $297.6 million in the pre-TKO era due to an increase in both live event & media rights revenue, offsetting a dip in consumer products revenue.
TKO revenue, which includes UFC, finished at $629.7 million, up 105% YOY. However, that number is inflated due to the absence of WWE the year prior.
The most interesting part of the afternoon release was the reveal that WWE Raw will remain on USA Network through the end of 2024 for $25 million. As NBCUniversal’s deal for Raw ended at the end of September, there was some question as to where their flagship show would air for the last quarter of the year before heading to Netflix.
TKO’s full-year guidance increased to $2.685 billion, up from $2.61 billion originally forecasted. That is based on the $25 million for the USA deal and outperforming their numbers for the first quarter.
WWE revenue breakdown for Q1:
- Media rights & content $ 221.1 million
- Live events: $50.2 million
- Sponsorship: $13.8 million
- Consumer products $31.6 million
WWE highlights
Several of the other highlights TKO noted about WWE included the following, all of which were reported on:
- 47 total events which included Royal Rumble and Elimination Chamber. Both PLEs set all-time records for gross revenue and viewership which were previously reported on.
- Their Netflix deal for Raw domestically and everything on the TV side internationally starting in 2025.
- Even though the event took place in the second quarter, they touted the financial success of WrestleMania 40 in Philadelphia.
- Their first-ever center mat deal with Prime Energy
UFC notes:
On the other side of the coin, UFC revenue increased slightly to $313 million, up $6.3 million YOY. That was buoyed by a $10.6 million increase in sponsorship and $3.9 million increase in live event revenue, offset by a $9.6 million decrease in media rights & content revenue due to holding one less PPV than last year.
They held 11 shows, five in front of live crowds, in the first quarter, setting all-time gross revenue records for those live shows in the process.
Similar to WrestleMania, they touted the financial success of UFC 300 even though it fell in April.
UFC revenue breakdown for Q1:
- Media rights & content $ 214.5 million
- Live events: $35.3 million
- Sponsorship: $48.6 million
- Consumer products $14.6 million
Call notes:
Coming at 5 PM Eastern
News Summary:
- TKO earnings report & call notes: WWE revenue up, new Raw development
- Check all news and articles from the latest Cricket updates.