TKO Q1 2024 Earnings report

[Chris]

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

https://www.f4wonline.com/news/wwe/tko-earnings-report-call-notes-wwe-revenue-up-new-raw-development

 

[Chris]

Linked article notes the investors call his happening rn so stuff gonna be coming in from that over the next hour too

 

[Roy Mustang]

"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."

That feels like a huge bargain for NBCUniversal even for 4 months only

 

[Chris]

Call notes:

Per the norm in the TKO era, there wasn't a ton of specific and unique information about WWE or UFC, but here are a few notes.

• Ari Emanuel, CEO Mark Shapiro and CFO Andrew Schleimer represented TKO per usual. Emanuel ducked out before the Q&A portion began.
• Site fees and other "cash and non-cash incentives" will continue to drive both big WWE and UFC events.
• Schleimer said TKO got a "meaningful payment" for WWE bringing Elimination Chamber to Australia -- their highest non-Saudi payout to date. He also said next year's WrestleMania in Las Vegas is tied to both cash/non-cash incentives.
• Shapiro said the Saudi relationship has been handed off to Nick Khan from Vince McMahon and put over how strong Khan has been with it.
• He didn't indicate what the change to the WWE/Saudi arrangement will be, saying as of now, they still have just the two yearly events on the books and the one yearly event for UFC. He did mention wanting to "festivalize" the WWE experience there.
• The non-exclusive UFC negotiating window opens up in January and lasts for three months. Shapiro said they don't want to leave, but do want to do what's best for the company.
• Several factors go into keeping UFC shows at the Apex in Las Vegas including margins, fan interest, and revenue. Schleimer said they haven't found the right mix yet, but are working on it. Shapiro said there's no experience like the live one and that they err on that side when they can.
• Shapiro said that according to Dana White, the impending UFC PPV at the Sphere in Las Vegas is a "one and done."

Edited into the linked article in OP

 

[Dale]

I believe Backlash Puerto Rico was in the 1 mil range and Clash at the Castle in Wales was around the 3 mil mark I think, so the Elimination Chamber payment must have been a good one.