TKO Group Holdings reports impressive financial results for 2023
TKO Group Holdings, the prominent sports and entertainment conglomerate controlled by Endeavor, has revealed its impressive financial results for the fiscal year 2023.
The annual report showcased substantial growth across its flagship properties, the Ultimate Fighting Championship (UFC) and World Wrestling Entertainment (WWE).
The company reported a revenue figure of US$1.7 billion for 2023, marking a 47 percent increase from the previous year. This surge in revenue highlights TKO Group Holdings’ continued success in leveraging its diverse portfolio of sports and entertainment assets.
Breaking down the revenue figures, the UFC contributed significantly to TKO’s stellar performance, achieving a record annual revenue total of US$1.3 billion – representing a 13 percent increase compared to 2022. Notably, the MMA promotion’s revenue for the fourth quarter of 2023 amounted to US$282.8 million, surpassing the US$271.7 million generated during the same period in the previous year.
WWE posted a commendable revenue of US$331.2 million in the fourth quarter of 2023, further bolstering TKO Group Holdings’ overall financial results.
Despite the impressive revenue figures, TKO Group’s net income for 2023 stood at US$175.7 million, reflecting a decrease of US$213.3 million compared to the previous year. However, the company’s adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) witnessed a significant increase, reaching US$809.1 million.
“TKO is off to a strong start following record financial performance in 2023 at both UFC and WWE,” said Ariel Emanuel, CEO of TKO Group Holdings.
“We secured Anheuser-Busch as the official beer partner of UFC, delivered a transformative deal to bring WWE’s Raw to Netflix beginning in 2025, and expanded our international footprint in important growth markets.
“We have more conviction than ever in the combination of these businesses and TKO’s ability to drive topline growth and margin expansion, generate meaningful free cash flow, and deliver sustainable long-term value for shareholders.”
TKO Group Holdings has set ambitious revenue targets ranging between US$2.57 billion and US$2.65 billion, with an aim for adjusted EBITDA of US$1.15 billion to US$1.17 billion for the current year.
